A smart business strategy is customer-focused and starts with solving problems. Top performing companies know how to think outside the box and come up with innovative products & services that revolutionize customer experience thus being able to keep the company in profits even when the going gets tough.
Last week CNN showed an interview with David Marcus, President at PayPal. Ebay had just acquired payment gateway Braintree for $800 million to strengthen PayPal’s mobile presence. Let’s watch this short 2 minutes video to see what David Marcus had to say in regards to the barriers and opportunities for mobile wallets.
Ebay’s Business Strategy – Braintree to Boost PayPal’s Mobile Presence
Are we ready for mobile wallets?
A survey conducted among 1,500 US smartphone owners by the consumer research company Chadwick Martin Bailey found that only 16% of respondents had used a mobile wallet in the previous six months. The study was conducted January this year.
PayPal is convinced that mobile wallets will revolutionize payments. Nevertheless, there are still several questions consumers would like to have an answer to…
- Where can you use mobile wallets?
- At how many locations can you use mobile payments?
- What can go wrong? What are consumers afraid of when paying with mobile wallets?
A couple of weeks ago PayPal announced Beacon – a new technology that will enable customers to literally pay hands-free. According to David Marcus, Beacon is “a magical user experience” and PayPal is looking forward to bring this convenient payment to more and more people.
Let’s have a look at PayPal Beacon’s latest “hands-free payment” ad…
I guess we’ll see more alternatives and different gateway payment methods from PayPal & Co. in the next weeks due to the upcoming holiday shopping season. So, stay tuned to our next blog posts.
What do you think are the biggest barriers and opportunities for mobile wallets? What’s your opinion on PayPal’s current business strategy? How is this going to pay out?