PayPal’s New Partnerships Give Consumers More Choice and Flexibility

Payments company PayPal has demonstrated its mobile leadership at this year’s Mobile World Congress with new industry partnerships that give people more choice and flexibility and product updates that make financial services faster, simpler and more inclusive.

PayPal’s newest collaboration is with Vodafone, one of the biggest mobile carriers in Europe. This partnership will allow millions of PayPal’s European customers to fund payments on Android smartphones at Visa contactless terminals using the Vodafone Wallet.

PayPal is also collaborating with Telcel and Claro, leading telecom providers in Mexico and Brazil, to help its over 140 million active users to manage their purchases through mobile devices.

These partnerships, along with PayPal’s technology-agnostic approach, give merchants and consumers more choice and flexibility in making and receiving payments.

In line with its vision to democratize the movement and management of money through innovation, PayPal’s recently acquired Xoom is eyeing to bring its service to Africa. This move will make it easy for people in the US to send money to loved ones with an M-Pesa account in Kenya.

PayPal also announced an improved version of its mobile app with support for near field communications (NFC). To be first unveiled in the US and Australia, the app will enable Android users to easily tap and pay at locations that accept contactless payments.

Dan Schulman, President & CEO, PayPal, commented, “We have a tremendous opportunity to transform commerce and financial services, and mobile is at the center of that evolution. We are committed to giving people flexibility and choice in the ways they move and manage their money. Leveraging our mobile scale and leadership, platform-agnostic approach and partnerships, PayPal is uniquely poised to leverage new value propositions. We believe the financial system should be more seamless, secure and affordable to drive the hopes and aspirations of people outside the traditional financial system.”