PayPal Jump Starts The Future of Shopping with Broader Mobile Commerce Platform

PayPal has formally unveiled several key new new payment technologies that collectively represent “a one-stop shop for merchants to engage their customers directly during every part of the shopping lifecycle.” Writing on the official PayPal blog, the eBay-owned company’s president Scott Thompson says there’s a “new normal” in retail. “Shopping is 24×7,” Thompson writes, “and …   Read More

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PayPal has formally unveiled several key new new payment technologies that collectively represent “a one-stop shop for merchants to engage their customers directly during every part of the shopping lifecycle.”

Writing on the official PayPal blog, the eBay-owned company’s president Scott Thompson says there’s a “new normal” in retail. “Shopping is 24×7,” Thompson writes, “and it happens everywhere – not just in a store or website. The intersection of smartphones, social media, online and offline shopping has put the” consumer squarely in control.”

Despite not providing precise details pertaining to the new technologies he hinted at, Thompson suggested that PayPal will make digital commerce solutions more widely available (in other words, across a broad variety of devices and platforms), while delivering new funding options like cash, credit, and even installment payments.

We’ll be announcing much more over the next few months, so stay tuned. You’ll also be able to check out our new products and services first-hand at the X.commerce Innovate Conference October 12-13 in San Francisco.

PayPal is also committed to pushing forward with geo-targeted mobile ad campaigns, barcode scanning resources, real-time inventory data and more. With PayPal now firmly behind Near Field Communications technology, it’s no surprise that the term “virtual wallet” continues to surface in PayPal’s public comments on its further plans and points of emphasis.

PayPal recently revised its 2011 mobile total payments volume estimate to $3 billion. Just last February, PayPal had anticipated only $2 billion.

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