PayPal Launches One-Touch Shopping Across Multiple Apps
Aug. 21, 2014
PayPal’s acquisition of online payments provider Braintree-and with it, the popular P2P money-sharing app Venmo-appears to be bearing even more fruit. On Tuesday, Braintree CEO Bill Ready revealed on the company’s corporate blog that PayPal is testing a service enabling consumers to make one-touch payments across multiple shopping apps. PayPal One Touch is a repackaging and extension of Venmo Touch, a similar app Braintree launched more than a year ago after it had acquired Venmo in 2012. Ready said the opportunity to scale a service like One Touch that can considerably reduce friction in mobile payment to hundreds of millions of PayPal users was one of the reasons being acquired was so attractive.
“This will become increasingly important as consumers look to mobile devices as their primary computing devices and are demanding a more seamless buying experience,” said Ready. “Despite more than half of all e-commerce shopping sessions coming from mobile devices, consumers convert or buy at a rate about two thirds less than desktop if checkout experiences aren’t mobile optimized. One Touch payments with PayPal is a tremendous leap forward in arming developers and innovators with the ability to deliver the mobile buying experiences that consumers now expect.”
Ready said PayPal expects beta testing to last about one month before the service is rolled out to all developers and consumers.