In an interesting partnership deal, PayPal Holdings.Inc has officially announced its integration with the social media giant, Facebook. With this integration, a wide range of exciting features is lined up for users making commerce as something one can do anytime, anywhere.
According to reports cited by The Wall Street Journal, PayPal will now introduce several new online shopping features. Also, users will now receive messages about their purchase on PayPal, the receipt form through Facebook's chat messenger service. Experts view this amalgamation of payments into social interactions as the future for U.S.A. With China already implementing this, it is seen as a big, necessary move in the United States.
As of now PayPal has already enabled Facebook to let people pay for services such as ordering a car through Uber Technologies, ordering a pizza, booking an appointment for a hair salon and so on. However, to be able to use these features, it is mandatory for the merchant to be a PayPal customer. The feature will be available to all U.S consumers with a Facebook and PayPal account.
Speaking about PayPal's alliance with Facebook in an interview with CNBC, PayPal's head of global initiatives, Anuji Nayar said, "This is about allowing you to conduct commerce whenever you want to be doing it. As more and more of your life goes through the mobile environment, the idea of a laptop or desktop is going away."
PayPal has about 167 million active consumer accounts and 15 million merchants using the PayPal services. Currently, mobile payments constitute about 30 percent of the total payments completed to PayPal and the company hopes to expand this number through the new partnership with Facebook.
Facebook, on the other hand, has been the undisputed king of the social networking platform for more than a decade. Facebook boasts of 1.57 billion active users per month and 1 billion of them actively use the messenger application.
