PayPal is finding a great deal of success through its focus on the mobile commerce space
PayPal is beginning to see significant promise in the mobile commerce space. The company has long held a strong mobile presence, but a stronger focus on mobile commerce specifically may ensure future growth. PayPal has announced that it saw a 21% increase in revenue during the fourth quarter of 2015, with revenue reaching $2.6 billion. This growth was partly due to the acquisition of remittance firm Xoom. Strong support for mobile commerce also secured revenue growth for the company.
Xoom ensures that PayPal has more access to consumers interested in mobile payments
The acquisition of Xoom gave PayPal access to some 1.6 million new customers. Many of these consumers used Xoom’s mobile service to send remittance payments to their families in other countries. This form of mobile commerce added one percentage point to PayPal’s overall revenue growth, according to the company’s estimations. Payments processed by PayPal grew significantly throughout 2015, with more consumers opting to use their mobile devices to make payments and send money to others.
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Mobile commerce continues to grow in power throughout the world, especially as smartphone penetration expands
Mobile commerce has become a powerful force throughout the world. Due to the expansion of the mobile Internet, more consumers are opting to use their devices to either shop online or send money to others. Consumers are also using their devices to make purchases in physical stores, where retailers are beginning to make use of mobile point-of-sale systems in order to support mobile payments. PayPal could secure future growth by focusing on mobile commerce and effectively engaging consumers that rely heavily on their smartphones and tablets.
Braintree proves to be a success for PayPal, which is focusing on improving mobile commerce
PayPal is also finding success through its acquisition Braintree, a company specializing in mobile payments. The company processes payments being made through a variety of mobile applications, with companies like Uber opting to use Braintree’s services. According to PayPal, the volume of payments handled by Braintree quadrupled over what it had reported two years ago.