PayPal is acquiring mobile software development startup Duff Research, a move to accelerate the rollout of its digital wallet efforts. Financial terms were not disclosed.
PayPal is rolling out a series of new tools enabling developers to offer more frictionless payment experiences within their mobile applications.
PayPal co-founder Max Levchin is going head-to-head with the digital commerce giant with the launch of Affirm, a new payment startup dedicated to streamlining the checkout process across smartphones and other connected mobile devices.
PayPal is extending its PayPal Here mobile payment processing platform to Europe, beating rival Square in the race to establish a beachhead on the other side of the Atlantic.
The integration of near-field communication technology and cloud-based systems in the mobile payments market poses security risks, warned Frost & Sullivan.
A group of Internet companies, systems integrators and security firms have teamed to offer a strong online authentication standard designed to replace the need for passwords, which provide weak authentication because of user reuse as well as having to protect against malware and phishing attacks.
A recent PayPal mobile wallet trial in a New Jersey mall suggests both retailers and consumers remain confused by how the service works.
Mobile payments in the United States are predicted to increase at a 48 percent compound annual growth rate, from $12.8 billion spent in 2012 to $90 billion by 2017, according to the latest research from Forrester.
eBay anticipates its mobile payment volume will exceed $20 billion in 2013. The company also said its PayPal unit will handle around $20 billion in mobile transactions this year. The figures are up significantly from what the company reported for 2012.
PayPal is partnering with retail and hospitality services firm NCR to offer consumers new mobile payment options at restaurants and retail stores.