WOW! PayPal hit a whooping new milestone: the payments platform has more than 100 million active accounts. That is amazing. Who would of thought in a million years people would be paying for stuff with their mobile phone. That little gadget that they sleep with, eat with, travel with, etc, etc, etc, Wow, times have changed!
The news, announced by PayPal President Scott Thompson, also comes with a bold prediction: that by 2015, the wallet will become a thing of the past. That why I think it is really important that business really seriously take a hard look at merging off-line and on-line marketing strategies today and start SMS texting their products to their clients on-the-go. Mobile and Local Internet Marketing is here to stay and it will be HUGE by the year 2015.
“As the trend toward digital currency continues to gain momentum, we are focused on delivering solutions that are not just new and different, but better than what is currently the norm today,” Thompson said in a blog post.
They also predicted and said, “We believe that by 2015 digital currency will be accepted everywhere in the U.S. – from your local corner store to Walmart. We will no longer need to carry a wallet.”
To back his assertion, PayPal is launching a new campaign that will challenge five Bay area residents to only use digital currency to pay for all of their purchases — no cash allowed. It’s an intriguing campaign that could become a good marketing cool for the company.
PayPal has been on a tear in recent years, generating more and more of eBay’s total net revenues and profits. The company is expected to facilitate more than $3 billion in mobile transactions this year alone.
The payments company faces some powerful challengers, though. Google recently unveiled its mobile payment solution, Google Wallet, to the world. PayPal has sued the search giant, accusing two of PayPal’s former executives (now with Google) of stealing and sharing trade secrets.
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