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PayPal Enables 'One Touch' Mobile Payments & Bitcoin Transactions

PayPal customers will now be able to make one-click payments in mobile shopping apps, and soon will be able to pay with Bitcoins.

Just ahead of today’s highly anticipated mobile payments news from Apple, PayPal announced that it has enhanced its own mobile payments offering with the availability of “One Touch” mobile payments and Bitcoin transactions. Both new features, announced yesterday at TechCrunch Disrupt in San Francisco, aim to make PayPal’s user experience a more seamless payments experience and offer greater convenience for customers in choosing how they want to pay, according to the company’s announcement.

[For more of our coverage on mobile payments, check out: Digital Wallets: High Awareness, Low Adoption.]

The availability of Bitcoin transactions was made possible through a new partnership between Braintree, eBay’s payments processing subsidiary, and Coinbase, a digital Bitcoin wallet provider. Merchants and developers that have integrated the v.zero SDK from Braintree will be able to accept Bitcoin in the next few months, allowing their customers to pay with bitcoins in their mobile apps, the announcement said.

The One Touch payment feature will allow customers to buy items through mobile apps with one click by selecting PayPal as their payments option and clicking “agree” to authorize the payment, the announcement said. Users’ payments preferences will already be saved. They won’t have to enter a username or password, creating a quicker and more secure experience, since they won’t have to enter their payments credentials and save them in each shopping app they use. Mobile shopping apps that have already integrated PayPal’s One Touch include Stubhub and ParkWhiz. The feature is already available on iOS and is in beta version on Android.

Jonathan Camhi has been an associate editor with Bank Systems & Technology since 2012. He previously worked as a freelance journalist in New York City covering politics, health and immigration, and has a master's degree from the City University of New York's Graduate School ... View Full Bio

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KBurger
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KBurger,
User Rank: Author
9/9/2014 | 12:16:50 PM
Re: Payments
What I want to know is, where do banks fit into this? When you say "other companies will not cede anything to Apple" are you talking about other technology companies, or financial services firms as well? We know payments is the area most ripe for disruption & that is seeing the entrance of a lot of non-traditional players. Does this mean banks have conceded, and if so, what have they conceded? Or do they stand to benefit by having lots of potential new partners and new offerings for customers? Bottom line, what does it mean for the banking community?
Jonathan_Camhi
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Jonathan_Camhi,
User Rank: Author
9/9/2014 | 10:50:02 AM
Re: Payments
Definitely not. Assuming that Apple does make a big payments move today, as expected, I think it will be interesting to see what kind of partnerships are formed either with Apple or to compete with it. It's been hard to get players to partner together because everyone wants to own the transaction data. But faced with disintermediation from Apple, other organizations might be more willing to share that data.
Byurcan
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Byurcan,
User Rank: Author
9/9/2014 | 10:45:53 AM
Payments
Interesting development. It's clear that other technology companies are not just going to sit back and cede the mobile payments war to apple.
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