Mobile phones have increasingly become tools that consumers use for banking, payments, budgeting, and shopping. Given the rapid pace of developments in the area of mobile finance, the Federal Reserve Board began conducting annual surveys of consumers’ use of mobile financial services in 2011. This 78-page report, “Consumers and Mobile Financial Services” (March, 2015) examines trends in the adoption and use of mobile banking, payments, and shopping behavior and how the emergence of mobile financial services affects consumers’ interaction with financial institutions.
Usablenet Integrates With PayPal’s Mobile Express Checkout for Mobile Website Payments
Usablenet has announced integration with PayPal’s mobile payments product, Mobile Express Checkout, to enhance payment offerings on clients’ mobile websites. Usablenet can now extend PayPal’s Mobile Express Checkout to mobile commerce websites and other supported solutions, such as mobile applications, tablets, Facebook & other social media, and in-store kiosks. Usablenet works with Fortune 500 companies to extend their websites to any customer, via Mobile, Facebook shops, Apps, Kiosks and Assistive versions.
With more than 90 million active users worldwide, PayPal’s total payment volume represents 16.5% of U.S. e-commerce and 15% of global e-commerce. In Q3 2010, PayPal reported a 26% increase in online payment volume growth compared with Q3 2009, a portion of which was attributed to mobile transactions. Over the 2010 holiday shopping season (from November 15 – December 15, 2010) PayPal experienced a 300% increase in mobile payments volume and closed out 2010 with $750 million in mobile payment volume; this is 50% more than the $500 million PayPal projected earlier in the year.
Founded in 2000, Usablenet has created a technology platform that extends all features, functionality, and content contained on clients’ websites (or other available sources) to their customers wherever they are — including mobile phones, mobile applications, tablets, Facebook and other social media, and in-store kiosks. Usablenet is the mobile partner for nearly 200 Fortune 1000 companies including Amtrak, American Airlines, ASOS.com, Estée Lauder, FedEx, Hilton, JCPenney, JetBlue, and Marks & Spencer, among others.
“Given our significantly shared client base with PayPal, we are thrilled to be able to extend PayPal to mobile and to our other solutions,” said Usablenet President Nick Taylor. “Imagine the power of extending PayPal not only to consumers on mobile phones, but also to those shopping at an in-store kiosk powered by Usablenet or on Facebook where we provide the shopping experience.”
“Usablenet empowers top e-commerce merchants throughout the world,” said Bill Zielke, PayPal’s Senior Director of Merchant Services. “By integrating PayPal’s Mobile Express Checkout with Usablenet’s offerings, businesses can enable consumers to speed through checkout securely using their mobile phones.”
Source: MarketWire