December 6th, 2020 | 2 MIN READ

eComm Weekly: PayPal's New Digital Wallet Features

Written by author_profile_images Shaneil Lafayette

Shaneil is a Commerce Technology Advocate and Data Analyst at Elastic Path. As a part of the Product Marketing Team, she focuses on enabling the market on the commerce solution technology that helps digitally-driven brands drive revenue growth.

PayPal is adding brand new features to increase convenience for their customers. Do you have them as a part of your ecosystem yet? Check it out.

eCommerce Weekly. What's new and what's noteworthy?

Next on the list is PayPal. We know PayPal as a convenient payment solution But their aim is actually to get even more convenient. Now, with the roll out of their new digital wallet they'll have some new features like budgeting tools, support for cryptocurrency, the Buy Now, Pay Later functionality, and to top it off, they'll have a seamless integration with all the shopping tools from their newly-acquired company, Honey.

So what does it mean for merchants and consumers? Well, with the new shopping tools from honey, PayPal will now be able to track consumers from their initial phase, their initial interest in a product and target them with promotions and savings and then have all of the checkout experience be in one place. And now with this data, they're going to be actually providing anonymous data to merchants to help them with driving sales.

Next, customers have the access to a new digital currency, as now you'll be able to buy, sell, and hold cryptocurrency across 28 million different merchants, without any new integrations on the merchant side. And lastly, They'll be doing a complete overhaul transformation on all of their newly acquired companies, to bring all the features together in one place. So no more switching between apps or having to use a desktop experience to get what you need.

I don't know, to me this screams convenience. So are brands actually ensuring that they have PayPal as a part of their ecosystem? Because if you're not, you could be missing out on customers that want convenience. That's all for eComm weekly. Tell me what you think!

 

Source: https://tcrn.ch/3giogKm

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