PayPal recently launched One Touch, and redesigned its mobile app in response to the increasing popularity of mobile payments in the Asia Pacific region.
The move comes at a time when cross-border trade is one of the driving forces of the global economy. According to Go-Globe, Asia Pacific accounted for 36.5 percent of the worldwide business-to-consumer (B2C) e-commerce sales in 2014, and this is expected to reach 39.7 percent in 2016.
Mobile is expected to drive this growth in the region, with nearly half of all online consumers making a purchase via their smartphones in 2015, said Go-Globe. Moreover, Forrester predicts that there will be 2 billion smartphone users in the region in 2019.
The launch of OneTouch and the revamped app thus hope to tap on the potential growth of mobile commerce in the region.
Available to consumers in Singapore, Malaysia, Philippines, Indonesia and Thailand, One Touch allows consumers to checkout securely at any supporting merchant with a single tap on their mobile device. They do not need to enter any payment information or even their username and password after opting into the OneTouch service.
PayPal assures consumers that One Touch is secure as it features "invisible" security measures to authenticate users besides using risk models and technology. PayPal also offers the Buyer Protection which safeguards online shoppers against eligible unauthorised purchases made from their accounts.
PayPal's mobile app, on the other hand, has been revamped to offer country-specific features within the app. Consumers can also customise the app so that they can manage and send money directly from the home screen.
The latest version of the PayPal app is now available on the Apple App Store and Google Play Store in Singapore, Malaysia, Philippines and Indonesia, with more markets to follow.
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