PayPal embraces NFC
PayPal unveiled new partnerships and product updates at the annual Mobile World Congress in Spain.
PayPal Monday unveiled new partnerships and product updates at the annual Mobile World Congress in Spain that touch upon its online, in-app and in-store offerings.
One of PayPal's biggest updates will be to its Android app for users in Australia and the U.S. The app now will support NFC-based payments, a technology the company previously shunned under former president David Marcus, who is now with Facebook.
"We have a tremendous opportunity to transform commerce and financial services, and mobile is at the center of that evolution," said Dan Schulman, president and CEO of PayPal. "We are committed to giving people flexibility and choice in the ways they move and manage their money. Leveraging our mobile scale and leadership, platform-agnostic approach and partnerships, PayPal is uniquely poised to leverage new value propositions. We believe the financial system should be more seamless, secure and affordable to drive the hopes and aspirations of people outside the traditional financial system."
PayPal announced a collaboration with one of Europe's largest mobile carriers, Vodafone, where millions of PayPal's European customers will be able to fund payments on Android smartphones at Visa contactless terminals using the Vodafone Wallet, according to a press release. The service will start in Spain and expand to additional European markets later this year.
PayPal is also working with leading telecom providers in Mexico and Brazil, Telcel and Claro, on their digital wallets to help their more than 140 million active users manage and make every day spend purchases via mobile devices.
PayPal also announced it would expand Xoom, the international funds transfer service, to Africa.
PayPal's One Touch, which offers customers an online and mobile checkout experience without having to retype in payment information, usernames or passwords, is also coming to an additional 120 markets, putting it in 143 markets in total.