There’s no argument that mobile is the most promising frontier for commerce. Delivering on that potential, however, very much depends on making payment as fluid as possible.
Today PayPal One Touch is launching in 13 new markets, including Australia, Austria, Belgium, Denmark, France, Germany, Netherlands, Norway, Poland, Spain, Sweden, Switzerland and Turkey. Already the feature is available in the U.S., Canada, and the U.K.
One Touch is based on a product initially created for Venmo called Touch, a button in native mobile apps and browser checkout carts that allows users to pay for goods without the hassle of filing out billing information. One Touch is important for PayPal as a whole, because it helps its 169 million users to purchase more products in more marketplaces and takes advantage of the mobile commerce boom.
Though PayPal and its subsidiary Venmo have had this feature far ahead of new competitors like Apple Pay and the soon to be released Android Pay, Paypal is now fighting to be the digital wallet of choice for consumers. Competition is fairly fierce. For example, Apple recently expanded its Buy button to the U.K. and became the first mobile payment to be accepted by that country’s rail service.
PayPal’s global head of merchant and next-generation commerce, Bill Ready, seems unconcerned. He said that One Touch has generated at least a 50 percent conversion rate for PayPal on mobile and that this will be a driving force in shaping the consumer and merchant relationship in the coming decade.
In addition to that, he said that Braintree, PayPal’s payment processing service for merchants, accepts Apple Pay and Android Pay, allowing the company to take a cut of those transactions as well. So while a person may use Apple Pay to make a purchase (rather than PayPal One Touch), PayPal can still make money on the backend of the transaction if the merchant uses Braintree as its processor.
To use One Touch, you’ll need to opt in with your PayPal account. Once the feature is enabled, look for the “Stay Logged In” checkbox when checking out with PayPal to confirm that you have access. Consumers in the U.S. can begin to opt in through PayPal’s One Touch website starting today, while others can do so “in the coming weeks,” even if they’re not part of the initial rollout.
*Update: PayPal’s users numbers have been update from 152 million to 169 million, which is a more current figure.