Мобильный 1 Add news
March 2010
April 2010
May 2010June 2010July 2010
August 2010
September 2010October 2010
November 2010
December 2010
January 2011
February 2011March 2011April 2011May 2011June 2011July 2011August 2011September 2011October 2011November 2011December 2011January 2012February 2012March 2012April 2012May 2012June 2012July 2012August 2012September 2012October 2012November 2012December 2012January 2013February 2013March 2013April 2013May 2013June 2013July 2013August 2013September 2013October 2013November 2013December 2013January 2014February 2014March 2014April 2014May 2014June 2014July 2014August 2014September 2014October 2014November 2014December 2014January 2015February 2015March 2015April 2015May 2015June 2015July 2015August 2015September 2015October 2015November 2015December 2015January 2016February 2016March 2016April 2016May 2016June 2016July 2016August 2016September 2016October 2016November 2016December 2016January 2017February 2017March 2017April 2017May 2017June 2017July 2017August 2017September 2017October 2017November 2017December 2017January 2018February 2018March 2018April 2018May 2018June 2018July 2018August 2018September 2018October 2018November 2018December 2018January 2019February 2019March 2019April 2019May 2019June 2019July 2019August 2019September 2019October 2019November 2019December 2019January 2020February 2020March 2020April 2020May 2020June 2020July 2020August 2020September 2020October 2020November 2020December 2020January 2021February 2021March 2021April 2021May 2021June 2021July 2021August 2021September 2021October 2021November 2021
News Every Day |

PayPal’s Peggy Alford On Buy Now Pay Later, Crypto and the Super App Future

In under 24 months, we’ve witnessed the astonishing success of buy now, pay later (BNPL), the meteoric rise of cryptocurrencies and the effects of a devastating pandemic that sped up payments tech by a factor of years, forcing consumers and businesses to reimagine commerce as they knew it.

As headwinds and tailwinds shift in a stormy time of change, PayPal Executive Vice President of Global Sales Peggy Alford spoke with PYMNTS’ Karen Webster about connecting the dots of a connected economy, streamlining the way its many moving parts and manifold players work together. The interview was done as part of The Commerce Summit, hosted virtually by Commerce Ventures.

Alford said we already have many answers to critical questions about this process that merchants and other businesses aren’t asking now — but will be soon. For instance: “How do I realize all of [these] evolving … capabilities that could add complexity … into a very simplified experience for my business?”

That remit could almost double as PayPal’s current mission statement, she said.

“The platform that we’re trying to provide, sort of this one-stop shop, is really about enabling consumers as well as businesses to be able to adopt easily all of this evolving technology,” she said.

PayPal brought much of this vision into focus during its third-quarter 2021 earnings report, detailing its redesigned app, its super app, deeper moves into BNPL with the acquisition of Paidy, integrating the Venmo peer-to-peer (P2P) app with Amazon and more. In so doing, it gave investors, consumers and competitors a vision of what the connected economy could look like as exemplified by a pioneering platform.

Read more: PayPal’s Super App, BNPL Expansion and More Expected From Q3 Earnings

“The connected economy that lots of folks are talking about, putting that power in the palm of your hand, is about convenience, it’s about security, it’s about flexibility and scalability,” Alford said. “All of those things have to come together because if they don’t, then you end up with more and more innovation that just makes things more difficult to use.”

That thinking informed the design of PayPal’s hotly anticipated super app, launched in Q3, and organized as a series of personalized dashboards connecting many apps into a single view that enables managing it all — from banking to crypto, BNPL to loyalty points — in one app.

Evolving Toward Digital Flexibility

Alford told Webster that for PayPal, “the next evolution — and something that PayPal is focused on — is driving financial inclusion [and] improving financial health with digital technology.”

That’s largely a function of flexibility and rewriting the old rules of where and how we pay.

“Creating this access and the seamless experiences for all the ways that you can buy in all of its forms and doing that to provide access to goods and services around the world is what is going to create kind of the perfect conditions for consumers and merchants globally,” she said.

PayPal is hardly alone on that evolutionary trek, but it shows signs of pulling ahead. A clear example is how the platform is diving into crypto with both feet — to the delight of users.

“We’re building infrastructure in a way that we can evolve because … we don’t know exactly what shape this whole cryptocurrency phenomenon is going to take,” Alford said. “Our goal is to actually be able to support … central bank digital currencies [(CBDCs)] because we really view this as an enabler, not something that’s going to take the place … of central banks around the world.”

Noting that cryptocurrency trading on PayPal “saw exceptional response” and crypto trading volume on the platform “greatly exceeded” expectations — CEO Dan Schulman said the new app drove a 15% lift in consumer crypto transactions — Alford told Webster that PayPal users holding crypto are logging into their accounts at twice the rate of non-holders.

See more: PayPal, Crypto and the Continued Super App Evolution

“That engagement with our wallet is really important,” she said.

However, what Alford said she is most fired up about is “really adding utility to crypto by enabling consumers to use it to purchase, as well as enabling merchants to offer it as a funding source.”

Pointing to the range of businesses small to large using the platform, Alford said “not everybody is going to have the appetite to enable this capability on their own. What we’re really focused on is enabling customers in the U.S. [first] to use their cryptocurrency balance as a funding source, whenever they shop at the millions of merchants across our network.”

The Future of BNPL and the Role of Trust

As big as the crypto and CBDC story is getting, it’s still just beginning. That’s not the case for BNPL, where PayPal has been a major player, starting with its prescient purchase of BillmeLater in 2008.

Unlike pure-play BNPL providers, PayPal’s strategy is to make installments easy for merchants, enabling them in turn to meet consumers clamoring for the option, Alford said.

“Ultimately, we’re a payment processor,” she said. “Payment processors are a scale business, and we have that scale. We don’t make our money by charging a premium. What we do is we focus on ensuring that we’re providing incremental value to the merchants so that they are getting more business from it.”

In turn, she said, businesses are able to attract more volume to the platform.

Pointing to underwriting risk inherent in the BNPL sector during economic upheavals like the current inflation situation, Alford told Webster, “I think some of the smaller … mono-line companies that don’t … have a diversified portfolio of products will see consolidation.”

As with all things financial, consumer and business trust will make or break any proposition.

“It’s so important,” Alford said. “When you think about all of this innovation in the digital payment and commerce space, having that sort of trust to be able to … have your … very personal details … and access to all of these tools in a place that you trust is extremely important. It’s been sort of integral in all of the innovation that we’ve done.”

Read also: PayPal’s New Super-App Positioned to Deliver Next-Level Connected Experience









Read also

Victor Osimhen’s eye came out of its SOCKET and Napoli star needed six plates and eighteen screws after horror injury

Man Utd CONFIRM Ralf Rangnick appointment as interim manager on six-month contract until end of the season

Horrific footage shows pack of hyenas savage LION in gruesome attack after big cat was left abandoned


News, articles, comments, with a minute-by-minute update, now on Today24.pro

News Every Day

Insurtech Market Revenue Growth Defined by Heightened Product Innovation

Today24.pro — latest news 24/7. You can add your news instantly now — here


News Every Day

Triller Triad Combat: Pulev vs. Mir live stream, results, and discussion



Sports today


Новости тенниса
Даниил Медведев

Медведев принес России победу над Эквадором в матче Кубка Дэвиса



Спорт в России и мире

Адвокат Бушманов: задержанные после матча фанаты ЦСКА рискуют получить до 15 лет тюрьмы


Загрузка...

All sports news today




Загрузка...

Sports in Russia today

Полиция составила более 50 протоколов после матча ЦСКА – «Зенит» в Москве


Новости России

Game News

Cyberpunk 2077 rated 'very positive' by new user reviews


Russian.city


Здоровье

Портативный ирригатор RL 450 от Revyline с доставкой в Хабаровском крае


Губернаторы России
Владимир Путин

Мировое напряжение: кого, когда и как предупреждал Путин


Путин передал приветствие участникам чемпионата Европы по дзюдо среди смешанных команд

«Хотели встретиться и обсудить «Спартак»: Губерниев рассказал о последнем разговоре с Градским

Кедми назвал США инициаторами информационной истерии о «вторжении» России на Украину

Врач Шангичева посоветовала делать гимнастику для глаз после COVID-19


Ксения Собчак поддержала Диму Билана после скандала с его «пьяным» концертом

Саксофонист Бутман заявил, что Путин может сыграть Баха «двумя руками»

Валерия Гергиева наградили Золотой медалью имени Георгия Свиридова

Композитор Александр Градский умер после экстренной госпитализации в Москве


Серена Уильямс попросила помощи у подписчиков: карма настигла меня

Кубок Дэвиса. Стал известен соперник россиян по четвертьфиналу

"Кубок Дэвиса". Даниил Медведев сравнял счёт в противостоянии России и Испании

Российский теннисист Карловский поднялся на 37 позиций в рейтинге ATP




Футбольные фанаты после матча ЦСКА – «Зенит» задержаны за хулиганство

Лукашенко и Алиев обсудили итоги встречи лидеров России, Армении и Азербайджана

Мировое напряжение: кого, когда и как предупреждал Путин

Татьяна отзывы


Баранец: РСЗО «Торнадо-Г» превосходит предшественников по дальности и точности стрельбы

За сутки в России выявили 33 548 новых случаев коронавируса

Будет ли оттепель в Новый год: дали печальный прогноз погоды на декабрь

Горожанам рассказали о повышении пенсий



Путин в России и мире







Персональные новости
Russian.city

Сергей Рахманинов

В Петербурге 150-летию со дня рождения Рахманинова посветят турмаршрут и фестиваль



News Every Day

Insurtech Market Revenue Growth Defined by Heightened Product Innovation




Friends of Today24


Загрузка...
Музыкальные новости
"Воскресенье " Олег Митяев



Персональные новости
Близкий друг Путина миллиардер Пугачев. Вся правда о Путине, его семье и деньгах. В гостях у Гордона (2021)

Навальный об уволенном за пост священнике (2021)

Slava Marlow – суперуспех и депрессия в 21 год / вДудь (2021)

Обнаглевшие дети путинской элиты (2021)

Дайте собакам мяса (новый звук) -Владимир Высоцкий

Группа "Рождество" - песня "Так хочется жить!" (Видео с концерта в Киеве группы "РОЖДЕСТВО" в 2011 году в Доме офицеров)

Adriano Celentano Любимая песня Челентано (высочайшая энергетика) talentTV

Moscow.media