PayPal aims to make mobile payments even simpler
PayPal has been the go-to digital payments company for years. Few others were in the space that it dominated in online payments, but as the years have gone by, and payments have ventured into mobile, PayPal has been slowly falling from the top. It’s always innovated to stay as far ahead as it can, and this latest update to its mobile services comes hot of the heels of eBay’s acquisition of payments startup Braintree last year.
So, PayPal’s One Touch PayPal system lets shoppers pay with one touch when a user is shopping in a merchant’s app – if they’ve already downloaded the PayPal app previously, that is.
The idea behind all of this is to enable customers to shop freely using their mobiles, stripping away the frustration of entering registration details or payment information when making a purchase on their phone’s small screens. It’s also hoped that in doing so it’ll increase merchant conversion rates in the process – stopping mobile cart abandonment.
It’s also really simple for merchants to integrate too, as all that’s needed is Braintree’s app development kit to get it working.
“We think … this will be the absolutely easiest and safest way to pay on a mobile device,” Braintree CEO Bill Ready said in an interview with Re/Code. “A couple of years from now, if you encounter anything apart from this kind of experience on mobile, you’ll think it’s archaic.”
PayPal isn’t completely original in its One Touch vision, as popular US payments app Venmo does something similar with Venmo Touch. This service allowed shoppers with Venmo accounts to purchase goods on merchant sites and apps that ran on Braintree’s payment system.
However, thanks to PayPal’s much larger user base this should grow rapidly in the mobile commerce space. The first payment will need to be authorised by PayPal, but from then on out purchases can be made with just a touch of the “buy” button in app. Of course, that’s a rather dangerous thing to be able to do, so we’ll see how long it takes before someone issues a complaint about their child making purchases or about accidental orders.
While this clearly benefits both parties involved, the service can only take off if enough merchants decide it’s worth integrating it into their payment systems.