Tag: alibaba

PayPal spins off to capitalize on mobile payments

| October 2, 2014

eBay has announced that PayPal will be its own, separate company from now on

PayPal is finally being spun off as an independent company. As mobile commerce continues to grow at a rapid pace, eBay has decided to separate itself from PayPal, allowing the company to march into the future on its own. PayPal has seen tremendous growth with the help of eBay, but the company may now be prepared to take its future in its own hands. There are also rumors concerning eBay’s future, which may end up intertwined with Chinese e-commerce giant Alibaba.

PayPal continues to see strong growth in the mobile sector

PayPal has seen strong growth this year already. The company’s payment volume grew by 29% over what it had been in June of 2013, reaching $55 billion in transactions processed. The company has established a strong foothold in the mobile commerce space, well ahead of other companies that were looking to do the same a few years ago. While PayPal has become one of the most popular names in the mobile payments field, the company is expected to see strong competition come from Apple, Google, and even Facebook. This time, however, it will not have the support of eBay.

Alibaba may seek to purchase eBay or PayPal

paypal - mobile paymentsThere are rumors that Alibaba, one of the largest e-commerce organizations in the world, will purchase eBay, or perhaps PayPal, within the near future. These rumors have little evidence to support their substance, but Alibaba has been known to purchase companies that have been competing with it in the digital commerce space. Whether or not eBay would agree to be acquired by Alibaba is little more than a matter of speculation currently.

Mobile payments market expected to reach $721 billion by 2017

The mobile payments market is expected to see significant growth over the next few years. A recent report from Gartner suggests that the market will reach $721 billion in valuation by the end of 2017. PayPal has a lot to gain from this growth, but the company will have to prove that it can be competitive with new mobile commerce services entering the global market.

Mobile commerce platform embraces biometric technology

| September 19, 2014

Alipay to adopt biometric technology to make mobile payments much more secure than they are currently

Apple may not be the only name in the biometric game. Alipay, the prominent mobile payments platform from China’s Alibaba, is preparing to launch its first biometric-based identification system. Biometric technology is becoming more important in the field of mobile commerce. Because this field has to do with the trafficking of financial information, security is a major priority for the industry as a whole. Biometric technology can help ensure the security of a person’s financial information while using a mobile device.

Biometric technology from Nok Nok Labs to be used on Galaxy S5 devices

Alibaba plans to enable secure online payments through fingerprint scanners on Samsung Galaxy S5 devices in the near future. These devices are equipped with biometric technology that will allow for secure mobile payments through the Alipay mobile application. The Alipay Wallet will also take advantage of this technology, replacing the password it needs with a fingerprint instead. The technology that is being used for this purpose comes from Nok Nok Labs.

Mobile security continues to receive relatively little attention, especially when it comes to matters of digital commerce

mobile commerce - biometrics security technologyMobile commerce security is a major issue that has received only modest attention in recent years. Despite the massive number of people that have embraced mobile payments, relatively few of them take steps to protect their financial information when shopping online. Some mobile commerce platforms also lack the security solutions needed to protect their users, which has lead to serious problems for certain companies in the past.

Biometric technology could make people much more comfortable with the concept of mobile commerce

Biometric technology is one of the most aggressive solutions to the security problem. A hacker can exploit the security faults of mobile devices and applications, but mimicking a person’s biometric information is a much more difficult task. Using a fingerprint to keep a mobile device secure could introduce a greater degree of security to the mobile commerce space and make people much more comfortable with shopping online from a mobile device.