PayPal Growing as the Banking World’s Next Super App
PayPal CEO Dan Schulman has recently expressed his thoughts on the company’s growth and the future of PayPal as the banking world’s next super app. Let’s read what this means and who can help you with the best credit card processors in the U.S.
PayPal’s Growth & Best Credit Card Processors
PayPal registered $936 billion payment transactions last year. The payments giant anticipates 400 million global users by June 2021. The company is currently working on expanding its existing offerings and starting to offer crypto services as well.
2020 ended with 377 million consumer accounts, including close to 30 million merchant accounts, for PayPal. The payment giant added about 73 million net new actives during the past 12 months. PayPal expects to reach 750 million users by 2025.
In today’s increasingly digital world, it’s more vital than ever to use the most advanced payment processing services. To find the best credit card processors to apply to, you’d better work with a seasoned merchant services comparison company in the country. This way, you can be sure to find the best deal for your business.
PayPal Towards Becoming a Super App
The payment giant wants to turn into the next super app in the banking world. In addition, PayPal is also interested in expanding into banking and stock trading.
What is a super app? Well, this is an everyday app that becomes the main means for a consumer purchasing goods/services during everyday activities. In fact, it incorporates all the separate apps into a connected ecosystem offering streamlined and controlled data and information between those separate apps for shopping and paying.
According to Schulman, in a digital-first world, commerce is associated with differentiation, adoption, and innovation. And payments are responsible for closing the loop. As for a super app ecosystem, the latter creates that bridge and drives value for all stakeholders. As Schulman notes, players with digital-first as their DNA have more chances for expansion.
To sum up, PayPal’s CEO Dan Schulman has recently talked about the company’s plans on becoming the world’s next banking super app. This way, the payment giant can offer mobile payments, shopping, investing, savings, budgeting, and crypto capabilities on one single platform, as AliPay does in China.
Author Bio: Payment industry guru Taylor Cole is a passionate payments expert who understands the complex world of the best credit card processors. He also writes non-fiction, on subjects ranging from personal finance to stocks to crypto pay. He enjoys eating pie with ice cream on his backyard porch, as should all right-thinking people.