The online and mobile payments company is now making its first move toward even smaller devices.
The skyrocketing popularity of wearable technology cannot be denied, particularly now that these mobile devices have taken the Mobile World Congress by storm and virtually every manufacturer in the industry has either released products within this category or is on the verge of doing so.
In response to this massive new trend, PayPal now intends to create a payments app specific to these devices.
This move toward wearable technology will notably expand its reach within the mobile payments and the greater mcommerce category. The intention of PayPal appears to be an April launch for the new mobile payments app, with a focus on Samsung’s smartwatches. The Gear 2 and the Gear 2 Neo will be the first mobile devices that will be hosting this application.
The PayPal app will make it possible for the wearable technology devices to be used for a range of purposes.
Among those functions include making actual mobile payments, but also storing rewards, redeeming them, and sending and receiving money with other users of the app. A PayPal spokesperson from San Jose, California explained that mobile devices are no longer limited to the original tablets and smartphones. Instead, it can come in a range of different forms, including smartwatches or even jewelry such as bracelets.
She went on to explain that the vision that PayPal has established is to allow consumers to make payments and other transactions in a frictionless and seamless way, making it easier and more convenient to shop no matter what device an individual happens to prefer. She added that the company now considers payments through these wearables to be a fascinating and highly innovative way to help in eliminating friction from the action of making a payment.
The PayPal spokesperson also made it clear that while they are adding wearable technology to their compatibility, they are not under the impression that the smartphone will be going away at any point in the near future. Instead, the tech market is simply offering a broader range of options, and the company is making sure that they make sense with each of them.