PayPal launches new partnerships, expands int’l mobile transactions

Global Business

PayPal has agreed to pay $25 million in fines after being accused of adding new customers to a credit service without their permission. Despite the setback, the online payment company is aggressively expanding its global reach by announcing some new partnerships at an event entitled Commerce Re-wired.

CCTV America’s Mark Niu filed this report San Francisco.

PayPal launches new partnerships, expands int\'l mobile transactions

PayPal launches new partnerships, expands int\'l mobile transactions

PayPal has agreed to pay $25 million in fines after being accused of adding new customers to a credit service without their permission. Despite the setback, the online payment company is aggressively expanding its global reach by announcing some new partnerships at an event entitled Commerce Re-wired. CCTV America's Mark Niu filed this report San Francisco.

Highlights:

  • At the forefront of PayPal’s new technology is PayPal One Touch, which allows consumers to make single tap purchases across any device-smartphones, tablets and laptops.
  • PayPal says that in five years’ time, mobile transactions on its platform have gone from less than one percent of total transactions to 30 percent.
  • About 25 percent of PayPal’s total payment volume crosses international borders. PayPal is now launching China Connect, which will link Chinese consumers directly with PayPal’s global merchants.
  • PayPal also announced a new partnership with Chinese bank card organization UnionPay.
  • PayPal had its biggest first quarter ever this year, handling over one billion transactions. It expects that number to grow rapidly if customers find mobile transactions safer and more convenient.