Making payments will soon be a breeze as payment service provider PayPal rolls out its new mobile software development kit (SDK) in Singapore, Hong Kong and Australia.
From 29 April to 20 May 2014, PayPal polled 15,105 adult banked consumers aged between 18 to 64 years old in 15 major markets. The markets include Singapore, Australia, Brazil, Canada, China, France, Germany, Israel, Italy, Japan, Russia, Spain, Turkey, U.S., and the UK.
The survey found that 72 percent of the Singaporean respondents were tired of queues. Close to half of them (42 percent) also ranked having to wait in line as the top inconvenience that they wish to get rid of in their lives. Furthermore, 36 percent of the Singaporean respondents wanted technology to remove that obstacle.
Spurred by this finding, PayPal's new mobile SDK is designed to allow the creation of mobile apps that embed the payment function into it. This eliminates app redirects when a user wants to make a payment via PayPal or credit card, thus providing a seamless mobile experience.
To further ease mobile payment processes, apps developed using the mobile SDK will only require the user to log into their PayPal account once. This stamps out the need to key in usernames and passwords every time they want to make a purchase via the app and pay with PayPal. "The new SDK will make payments so seamless that it is almost invisible, which will drive higher customer conversion rate," said Lawrence Chan, PayPal's vice president of merchant services for Asia Pacific and general manager for Southeast Asia and Japan.
Even though ease of payment is the main aim of the mobile SDK, PayPal has also made security as one of its top priority. According to Chen, payments made via apps with PayPal's mobile SDK will go through multi-factor authentication before they are authorised. Chen explained that PayPal uses a keystroke logger technology to compare a user's typing pattern to that of the user's history. He added that PayPal will also analyse if the user's location -- which is determined through the mobile device's GPS -- does not vary much from his past transaction locations before approving a transaction.
Built with merchants in mind
According to Chen, PayPal's SDK aims to enable merchants tap onto the mobile opportunity, and give their customers choice in how, when and where they want to pay. It also provides merchants and developers "the freedom to innovate instead of worrying about the complexities with payments."
There are currently four merchants in Singapore that have gone live with the mobile SDK. They are: beach bar Coastes, laundry service provider My Laundry Box, on-demand delivery company Dilivrit, and hotel booking firm HotelQuickly.
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