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I mean the ecosystem and this, I would look a little more generally out there, at not just Apple, but you have Venmo, you have PayPal, you have Google, you have Cash App.

PayPal is a really good candidate. You've got buy now, pay later players who would love to be able to get in store utilizing NFC. All of these entities thereby can make money on the interchange because it'll be with their own issued cards. So don't forget that. Rob Rubin:. You know what?

Many financial apps, including Klarna, Revolut, PayPal, and a few others (e.g., X, the platform formerly known as Twitter), hope to become super apps. If they succeed in establishing full-service financial portals, consumers will likely spend more time in them, monitoring finances or even shopping marketplaces.

Commerce media became an even bigger trend when PayPal announced its own advertising venture in May. Like retailers, these financial institutions have extensive first-party data and want to monetize it. 鈥淎nyone who has access to first-party purchase data has to be thinking through how they can monetize and productize that data,鈥� our analyst Sarah Marzano said after the Chase announcement.

But leading wallets like Apple Pay, PayPal, and Chinese super app Alipay are winning over consumers through education on how they work and the limited amount of data they use, as well as through incentives like loyalty bonuses and mobile ID initiatives. The demographics: Younger and higher-income Canadians are driving mobile wallet growth.

Global wallets like Apple Pay, Google Pay, and PayPal have a sizable presence in the region, but local players like JumiaPay, MTN Moto, and STC Pay are gaining prominence in their respective markets. Network International provides an opportunity for CVC Capital Partners and Francisco Partners to extract value from this growing market.

Australia was already a competitive market to operate in鈥攊t鈥檚 home to BNPL giants like Block-owned Afterpay and Zip, and other providers like Klarna and PayPal have also moved in. Combined with macroeconomic headwinds, this could have made it difficult for Affirm to grow its business in Australia.

PayPal, same parent company, but they also haven't even broader ambit of services. And I think we're going to continue to see payment riders really push in these directions with their mobile wallets for the exact reason I just mentioned.

Half (51.3%) of UK adults use PayPal to pay online, while 24.0% use Apple Pay and 16.0% use buy now, pay later (BNPL) services, per our survey with Toluna. AI is speeding up service and product discovery鈥攂ut consumers remain cautious.

I would not rule out PayPal in the mix either. Marcus Johnson:. Yeah. My second question is who do they take this 2% from? Do you see one of these folks suffering more so? Is it PayPal? Is it Apple Pay? Is it Venmo? Google Wallet? Which one is Paze going to steal this 2% from? David Morris:. I think it's going to be the device-agnostic wallets. Marcus Johnson:. Okay. David Morris:.

I'm a PayPal guy. I use it for P2P, in a pinch, maybe a checkup. Rob Rubin:. Jamie? Jamie Toplin:. I use Venmo to pay my friends and family if we're splitting dinner or other purchases, but I actually pay my rent on Zelle. Rob Rubin:. All right. I have to say that I have never really used PayPal. My wife does, but I use Venmo and Zelle. David Morris:. You're really old, I'm old, and Jamie's younger.

But in addition to credit cards, there's also PayPal investing in crypto payments and Stripe, and most of the really big payment names are all doing it. PayPal just launched a proprietary stablecoin last August. They've not released numbers on it. It does seem like low adoption, but they're really setting it up to be used for remittances and other payment transactions like that. Rob Rubin:.

How much will PayPal see in US transaction payment value this year? A) $857.25 billion. B) $1.079 trillion. C) $1.330 trillion. D) $1.638 trillion. US PayPal transaction payment value across all lines will hit $1.079 trillion in 2024, per our March 2024 forecast. July 30, 2024.

Young consumers鈥� creativity and drive are starting to pay off, and banks should act so they can leverage their growth in savings.

I think the way to explain Amazon Pay is to actually explain a competitor that people would be more likely to know, and that's PayPal. The PayPal buy button, it's ubiquitous. It's all over the internet. Anywhere you go, there's a checkout option and it's PayPal. Amazon Pay has that same offering.

A few financial firms (Revolut, PayPal, and Klarna among them) are encountering hiccups as they diversify their services. Meanwhile, Snap and TikTok are pushing into in-app commerce, which moves them closer to super app territory. That鈥檚 clearly the direction Musk wants to take X, but there鈥檚 scant evidence that this approach will be attractive enough to consumers to take off.

Powered by cloud-based APIs, modern card issuing leapfrogs traditional issuer processing to help non-financial services companies launch and customize card programs. Here鈥檚 where their offerings will be most disruptive.

Digital wallets such as PayPal, Apple Pay, Samsung Pay, and Google Pay have made paying by mobile easier and more secure. People are spending more time on their smartphones. In 2023, the average UK adult will spend over three hours a day on their smartphone, per our forecast. That鈥檚 up from 2 hours and 18 minutes (2:18) in 2019. To view the time spent with smartphones forecast, click here.

From Apple to PayPal to Paze, wallets are introducing passwordless authentication that can be applied across mobile operating systems. 9. GenAI integration will supercharge search and transform the market. Sophisticated multimodal models are on their way. Despite early fanfare around genAI, the search market hasn鈥檛 fundamentally shifted鈥攜et.

And one of the things that we saw this year in that study was that PayPal was now the provider their customers would trust the most to provide them with banking services and trust for other alternative providers was also increasing year over year. Their current bank or credit union was the second most trusted provider in the list that we gave them.

If marketed properly, the tech can help it stand out from rivals and build customer trust before mass industry adoption.

Beauty is a top category for the 43% of UK consumers buying via social media, according to a November 2022 report by PayPal. TikTok, a relatively new entrant to the UK beauty market, is already the tenth-largest ecommerce merchant in the category, per NielsenIQ. Amazon鈥檚 domination of UK ecommerce sales will continue.

So I think there's issues there and ultimately how technologically savvy this company is, and that's where a Klarna or PayPal is going to do well. Rob Rubin:. How do they fill the gaps? Maria Elm:. Partnerships. Rob Rubin:. So they merge data with other providers? Maria Elm:. Yes.