Monday December 9, 2013 6:26 pm
PayPal looks to become your digital wallet with latest update
PayPal has recently released a slew of updates to its mobile app, bringing with it numerous features aimed at carving out a place in our digital wallets. With more and more people moving their life into the digital realm, companies like Square, Google, and PayPal are moving swiftly to gain the first mover advantage in the financial app market.
Some of the most notable features of PayPal’s latest’s updates include, the ability to find shops around you via GPS, the ability to order products and services before you arrive at said shops, and special promotional discounts and coupons, which apply automatically during your checkout process.
PayPal has partnered with Eat24 to offer it’s “Order Ahead” functionality, allowing you to place your order on the app before you arrive, and bypass any lines to grab your meal and go.
The app also offers the ability to pay for your tab directly from your table at participating merchants, making waiting for a waitress to bring you a check a thing of the past. These types of convenient payment methods serve to create a shopping experience for the digital consumer, which makes it very difficult to go back to the “old ways” of swiping credit cards and using cash.
In addition to all the purchasing and payment features in the new PayPal app, you can also enjoy the use of the send and receive functionality. PayPal offers the ability to send money to friends and family in many foreign currencies, differentiating itself from many of the money transferring services in the market. Send money for your purchases or debts, by adding in a mobile number or email address. Financial transactions across international borders and currencies are becoming super convenient, thanks to cutting edge features, like the ones offered by PayPal.
The future may bring some competition to PayPal’s offerings, from competitors like Google Wallet, and Square Wallet. Using your mobile phone to make payments for everything from food to clothing is something that is not only convenient, but may also help you to save money, by making it easier to take advantage of coupons and discounts. We’ve been using the app, and definitely enjoy the ease of use and convenience of all the features it offers. What do you think? Will you be using PayPal or Google Wallet as your primary form of payment? Chime in below in the comments.