PayPal expects e-commerce to become mobile-centric in the coming years
PayPal has been finding a great deal of success in the mobile space, especially where e-commerce is concerned. The company has been focusing more heavily on mobile payments in recent months in order to establish a stronger presence in the mobile sector. This aligns with eBay’s own mobile initiatives as well and both companies plan to become leaders in the mobile commerce field in the near future. PayPal’s President, David Marcus, believes that e-commerce will soon become mobile-centric as consumers begin to use their mobile devices to shop online.
Consumers are using their mobile devices to shop more regularly
Mobile activity among consumers is on the rise. Approximately 74% of smartphone owners use their devices to shop online, with 79% of this crowd making a purchase. Some 40% of tablet users participate in mobile commerce regularly. As such, retailers are beginning to focus more heavily on engaging the mobile audience and many have launched new mobile commerce platforms and mobile websites in order to accomplish this goal. Online retailers are finding more success by engaging mobile consumers, which is encouraging them to put more focus on mobilizing their e-commerce initiatives.
Consumers may use mobile devices for all payment transactions within the next five years
PayPal President David Marcus believes that “mobile will be everything” within the foreseeable future. This may be an ambitious view, but considering the rate at which mobile device ownership is rising, as well as the growing popularity of mobile commerce, such a statement may be true. Marcus believes that consumers in North America, Europe, and Asia will be able to make payment transactions exclusively through a mobile device rather than making use of physical currency. As such, businesses must prepare themselves to accommodate these consumers.
PayPal continues to see competition from Amazon and Alibaba
PayPal has already managed to overcome many of its competitors in the mobile field, but must still fend off competition from companies like Amazon and China’s Alibaba. The latter company is considered the largest e-commerce organization in the world and has recently begun taking the mobile commerce space more seriously.
