Recently, eBay president and CEO John Donahoe said that its subsidiary, Paypal, plans to launch POS terminal products and develop mobile payment services.
At present, eBay is based on the idea of ​​creating a “new retail world†where consumers will get a seamless experience from physical stores, mobile phones, laptops and other mobile devices, and mobile payments are an important part of their vision.
Earlier this month, PayPal launched a service for Android mobile phone users that can be paid through Near Field Communication (NFC) technology. But Ken Sena, an analyst at Evercore Partners, a US investment bank, believes that eBay has not yet proposed a strategy to create mainstream technology standards. Once the global mainstream technology standards are established, PayPal may not be able to become the mainstream payment method.
The mobile payment market has an amazing outlook
According to Analysys International data, China Mobile Internet revenue reached RMB 19 billion in the first quarter of 2011, an increase of 41.9% over the same period last year. IResearch shows that the scale of China's mobile payment transactions in 2012 is expected to exceed 100 billion yuan. According to a recent study by market analyst firm Juniper Research, the global mobile payment market will grow from $240 billion in 2011 to $670 billion in 2015. At present, mobile payment services have formed large-scale applications including public transportation, subway ticketing, convenience stores, supermarkets, and restaurant micropayments in Japan and South Korea. Mobile payment systems in China, Europe and the United States are also becoming more sophisticated, which means that mobile payments will become a global trend.
On the one hand, due to the accelerated popularity of smartphones, it has opened up a broader market prospect for mobile payments. According to statistics released by Mercator Advisory Group, a US payment consultancy, as of 2014, 70% of US consumers will have at least one smartphone, while 52% of smartphones will support Near Field (NFC) mobile payment technology. . Currently, relevant groups, including third-party payment companies, telecom operators, banks and credit card companies, are competing for this market.
On the other hand, the global market for mobile e-commerce is booming. Ma Boning, head of Amazon's wireless business, said that with the rapid development of mobile Internet, users will gradually prefer mobile e-commerce, because they will experience a high-quality, convenient and well-experienced service. It is believed that in the next two years, the proportion of mobile e-commerce in e-commerce will increase significantly. Oriental Securities analysis believes that mobile payment is the cornerstone of mobile e-commerce. In the process of rapid development of mobile e-commerce, mobile payment will also shine as a supporting business.
Frequently responding to competition
According to media reports, eBay.com acquired Zong, a mobile payment company, for $240 million in cash. It is reported that Zong maintains contact with more than 250 mobile network operators in 45 countries around the world, providing localized, secure and easy-to-use payment services. eBay intends to merge the company with PayPal after the acquisition to form a joint effort to expand the mobile payment business. eBay said: "We believe that Zong can enhance our value and help us get more than 400 million mobile phone users, so that they can get more choices when paying."
In addition, eBay has acquired GSI Commerce, an e-commerce solutions and services company. President and CEO John Donahoe stressed that this is the third new business created by eBay after online auctions and online payments, and is currently integrating GSI Commerce with other businesses. At present, GSI's original five customers have settled on the eBay website, and 56 customers are using PayPal services.
In addition to the growing eBay platform, PayPal has also diversified its payment methods. The payment service has been launched on two NFC-enabled mobile phones, that is, by binding the PayPal account, the money transaction can be directly performed after the pairing is successful. The two phones can complete the entire transaction with a single touch.
Overall, PayPal's series of initiatives have laid the foundation for its mobile payment business and an important step in responding to competitors such as Google.
It is understood that Google will be with MasterCard, Citigroup and electronic currency transaction processor First Data Corp this summer. Jointly launched the Google Wallet service based on NFC technology. Google's mobile payment service will be effectively compatible with MasterCard's PayPass wireless payment system, which is currently installed in 124,000 stores in the United States.
Can you become a mainstream payment method?
Juniper's recent research report pointed out that the popularity of Near Field Communication Technology (NFC), hand-ticket services used by retailers and other forms of mobile payment is the main reason for the global mobile payment transaction to rise sharply in the next few years. the reason. By 2014, the total global transaction volume through Near Field Communication Technology will reach nearly $50 billion. Near field communication technology will increasingly attract market attention. In the next 18 months, about 20 countries are expected to launch near-field communication services. At the same time, the demand situation for the use of financial services in developing countries is that the number of active mobile payment service users will double in 2013, thus driving the corresponding increase in transaction value.
Donahoe, president and CEO of eBay, believes that the popularity of smartphone usage blurs the concept of online payments and offline payments. He also said, “Many merchants contact us and ask us to promote PayPal business to their point of sale.†PayPal expects that the total amount of mobile payment in 2011 is expected to reach US$3 billion, thus ranking in the company's annual business development. The middle ranks third. But Donahoe also said that NFC payment methods still have a long way to go because there are no industry standards at present.
There is no unified standard for global mobile payment services. Banks have rich merchant resources and bank card user resources, but most of their mobile payment solutions need to be changed, and users pay a higher cost. Telecom operators have a huge user base and their technology. The program does not need to change the machine, and the cost is relatively low. However, due to the qualification restrictions, only small payments can be made at present. From the current situation, the battle for mobile payment standards between telecom operators and the banking industry will continue.
Ken Sena, an analyst at Evercore Partners, a US investment bank, also believes that eBay has not yet proposed a strategy to create mainstream technology standards. Once the global mainstream technology standards are established, PayPal may not be able to become the mainstream payment method.
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