PayPal Accepted via USB Connection at Points of Sale
- PayPal bought FigCard, a recently created company specialising in mobile payment. Its solution relies on a device connected via USB to a cash counter or a POS terminal. The consumer installs the Fig application on his Wi-Fi enabled smartphone (iOS, Android, BlackBerry, etc.).
- With this investment, PayPal has opted for a distinct technological medium than the other major players. Through FigCard, it may equip merchants with Wi-Fi, neither relying on contact bank cards, as is the case with Square, nor on NFC, as pushed by most of the current pilots.
- This is PayPal’s second acquisition within two weeks. This move might enable it to become an alternative payment player in the mobile payment sector, as is already the case on the Web.
- eBay’s subsidiary also published satisfying figures: nine million acceptors and 90 million active accounts, which may increase to 130 million by 2013. PayPal announced it will integrate the credit payment method BillMeLater. This move enables it to anticipate worldwide competitive innovation. Annual sales should double within two years, as the penetration rate of e-merchant websites increases from 18% in 2011 to 24% (and, among eBay merchants, from 69 to 75%).