PayPal partnership could catalyze Android Pay adoption (PYPL, GOOGL)

pulse

May 19, 2017 4:25 PM

This story was delivered to BI Intelligence "" subscribers. To learn more and subscribe, please .

null

An extension of the strategic partnership between PayPal and Android Pay will now allow customers to pay in mobile browsers with ease.

Before, PayPal customers could add their credentials as a payment method for in-store and in-app Android Pay payments.

Now, that’s extending to the mobile web, meaning that shoppers using Chrome on Android KitKat 4.4 or above will be able to use the two services together at any merchant that accepts PayPal. Even more, payments can be verified with just a fingerprint, rather than a username or password.

The move could ease pain points on the mobile web for a considerable number of users. Mobile browser shopping is becoming more common, but it’s challenging, thanks to frictions associated with smaller screens and slower connections. This leads to sub-2% conversion rates, according to Monetate. Buy button offerings can fix that, because they eliminate steps that add hassle. Verifying with a fingerprint makes these payments even more convenient.

The move could vastly lift adoption for Android Pay.

Mobile payments are becoming more popular, but they still face some high barriers, such as consumers' continued loyalty to traditional payment methods and fragmented acceptance among merchants. But as loyalty programs are integrated and more consumers rely on their mobile wallets for other features like in-app payments, adoption and usage will surge over the next few years.

BI Intelligence, Business Insider's premium research service, has compiled a detailed report on mobile payments that forecasts the growth of in-store mobile payments in the U.S., analyzes the performance of major mobile wallets like Apple Pay, Android Pay, and Samsung Pay, and addresses the barriers holding mobile payments back as well as the benefits that will propel adoption.

In full, the report:

To get your copy of this invaluable guide, choose one of these options:

The choice is yours. But however you decide to acquire this report, you’ve given yourself a powerful advantage in your understanding of how mobile payments are rapidly evolving.

pulse

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.

Eyewitness? Submit your stories now via social or:

Email: eyewitness@pulse.ng