PayPal and Barclays Team Up With New Mobile Payments Plan
Despite the fact that eBay and PayPal are back together for the next several years, there may yet come a day when PayPal and eBay part company for good. PayPal has been working to minimize the loss of eBay for some time now, and now, a new deal between PayPal and Barclays may help to do just that.
The partnership is primarily geared toward the consumer and small business user, which will provide a new range of options for users on that front. The small business user—particularly those in the UK—are also set to benefit from a range of new experiences that are built into the system, reports note.
All users will get in on a new set of features, including the ability to manage a PayPal account from Barclays’ digital operations, as well as the ability to use Barclays products to connect to the PayPal digital wallet system. Barclays’ debit and credit cards can also be connected to PayPal, allowing them to be used as the basis for online, mobile, or in-app payments. The cards can also be automatically updated when their expiration dates are reached. There’s also word that the duo will be working to get Pingit, Barclays’ own mobile app, more into the picture as well.
It’s not surprising that PayPal was willing to work with Barclays on this; mobile payments are huge in the UK right now, and PayPal connecting with Barclays would give it not only a note of credibility in the field but also that necessary name recognition to connect with the market. Meanwhile, Barclays gets access to a full, robust infrastructure that’s already been used worldwide, so there’s no real risk that PayPal will fall down on the job and make Barclays look bad by extension.
Barclays gets a reliable new augmentation to its mobile operations, and PayPal gets access to a hefty new slug of customers that will help it mop up the loss of eBay’s business, assuming that loss ever actually materializes after 2023. That’s good news for just about everybody, except PayPal and Barclays’ competitors.