Apple continues to expand its payments ecosystem via PayPal partnership.
pple is further expanding its offering in the payments space by partnering with PayPal. As part of the deal, PayPal’s payment options (including Venmo) will be integrated within Apple Pay, while Apple’s payment options will be accepted within PayPal’s ecosystem. This move further highlights Apple’s ambitions to be as fundamental to the payment value chain as Visa and Mastercard.
In recent years, Apple has worked extensively to diversify its payment operations, which now include a digital wallet, a credit card, a buy now pay later service, and a mobile point-of-sale (POS) solution. By creating a broader ecosystem of services accessible via or otherwise linked to Apple Pay, the company is aiming for the platform to become a one-stop shop for all consumers’ payment needs.
This is undoubtedly a necessary step to drive uptake of Apple Pay, as mobile wallet usage in key Western markets such as the US has met resistance. Ingrained consumer habits mean cards remain the key payment method for both online and in-store purchases. In the US, Apple Pay accounts for only 5.7% of ecommerce transaction value in 2022e as per GlobalData’s 2022 Financial Services Consumer Survey. Meanwhile, all mobile wallets available in the market account for just 8.7% of in-store transaction value as of 2022e.
Quelle: h t t p s : / / w w w . electronicpaymentsinternational.com/comment/apple-paypal-payments-ecosystem/
|
Thread abonnieren
