This morning, PayPal announced two mobile commerce solutions for businesses in Singapore – mobile-optimized shopping websites and checkout – that would help increase mobile sales.
PayPal has announced the "PayPal Mobile Payments Standard" solutions which provide all merchants with a mobile payment checkout experience that is optimized for iPhone, iPad and Android devices. It detects whether customers are using their mobile device for payment and redirects them to a mobile-optimized payment page even if the merchant's website is not optimized yet. On top of that, the online payment processing company has also unveiled the "Mobile Commerce in a Box" solution in Singapore that helps businesses build mobile-optimized websites with mobile friendly user-interface, from conversion of their online stores in less than an hour and at no additional cost. This way, businesses stand to benefit from increased browsing time, lower bounce rates and higher conversion rates, leading to increased sales.
Renowned coffee shop group, Pacific Coffee Company, was at the event to showcase the use of My Perfect Cup loyalty card that lets users top up the stored-value using their PayPal account, and purchase the food and beverages with the use of Quick Response (QR) code from their mobile device. This makes the entire cashless transaction extremely easy and convenient. We also saw the supposed two-step PayPal purchases from online sites including movie tickets, travel package as well as gadgets.
According to Elias Ghanem, managing director of PayPal Southeast Asia and India, we are seeing a lot of devices becoming more social and connected, and mobile.
"Three years ago, we were talking about the online and the offline whereby online (and mobile) constitute 4% of the entire $400 billion retail business around the world. Today, that number has gone to 6% for online and mobile. But most importantly, almost 40% of the offline transactions are influenced by an online device. What if in terms of being an influencer becomes a transactor? In 2013, we are removing the letter "e" from ecommerce; we believed that the online and offline have completely blurred and the change for all our merchants is now the entire retail. There is $10 trillion opportunity around the world for both local consumers and foreigners. In 2010, Singaporeans had spent $1.1 billion online and through their mobile and in 2015, it was projected to be $4.4 billion. This shows that more Singaporeans are using their mobile to shop online" Ghanem said.