The trend towards mobile engagement and ‘mobile-first’ business strategies is continuing virtually unabated for the vast majority of tech companies operating today. Even the largest global influencers, including the likes of PayPal, have made it clear that their next iteration of consumer engagement strategies will heavily rely on mobile-integrated design and deployment.
In reality, this news should come as no surprise. Recent studies have shown that a substantial majority of internet consumers now complete their online shopping using their mobile or portable device, such as a tablet. Although desktops and laptops (now considered ‘traditional browsing tools’) remain a potent force in the world of e-commerce, continued changes instigated by search engine giants such as Google (who has geared search engine page rankings in favour of mobile-optimised websites) have delivered a strong message to web-based companies that those who ignore mobile browsers and consumers will be heavily penalised.
Regarding PayPal, the company has made it clear that their primary objective remains to become an indispensable, highly utilised tool favoured by the general public at large. PayPal recently announced that 2016 will include heavy investments in mobile deployment strategies, new security measures and a host of other improvements, all of which will, it is hoped, help the company overshadow its competitors and become the de facto payment tool for individuals around the world.
The remittance software industry, which includes PayPal and a host of other applications, remains a highly competitive arena, even when considering PayPal’s historic dominance. The fact that so many new companies can make their mark here, either due to ease of use, security or convenience, has proved to be a sharp reminder for PayPal that their size and legacy could easily diminish if the company does not continue to adapt to the changing nature of the internet and the dynamics of consumer interaction.
As it stands, PayPal currently remains the leader in global remittance software by a hefty margin. In Q1 alone, the company processed well over $3.2 billion US in consumer transactions. Additionally, the company added well over four million new active accounts in Q1 alone. In the eyes of PayPal’s corporate leadership, however, this is just the tip of a much larger iceberg. More information regarding PayPal’s proposed mobile updates will likely be made available to the public in the upcoming months.