PayPal makes headlines with Venmo and Square partners with SAP, while PPRO Group comes to Atlanta and Apple looks to India.
Here’s your weekly news roundup.
PayPal continues to make headlines with Venmo expansion. As reported by the digital payments platform in a recent press release, their social payments service, Venmo, can now be used to shop at more than 2 million online storefronts worldwide.
Establishing its popularity with the millennial generation, Venmo offers users the ability to not only purchase goods and services but to share their purchases and payments via a social media feed. This enables others to share and like the payment history of each Venmo user.
Regarding what’s next for the social payments platform, the same press release quotes Bill Ready, COO of PayPal, as stating “our vision for Venmo is to not only be the go-to app for payments between friends, but also a ubiquitous digital wallet that helps consumers spend wherever and however they want to pay, regardless of device. Through 2017 and beyond, we will continue to evolve the payments experience that has helped make Venmo a cultural staple, while also applying that same magic to split, share and pay in new ways.”
Square and SAP join forces to enhance retailer offerings. According to a blog post on Square’s web site, the innovative payment facilitator has teamed up with German company SAP to offer a new enhancement to SAP Business One – a business management software designed for small and medium-sized enterprises.
Put simply, the software solution aims to automate key business functions in operations, financial services and human resources. And with the new partnership, the same article states those key departments that already rely on SAP will now have access to Square’s hardware point-of-sale (POS) solution, as well as financial services and fast settlement options to streamline their operations.
And for the larger retailers that have more complex needs when it comes to their back-office requirements, the newly enhanced SAP Business One will now have one streamlined and comprehensive view of their sales and payments data – offering them more efficiencies when it comes to managing their operations.
Facebook is now open for delivery. As if the online social platform didn’t already offer just about everything else, you can now order food through your favorite app. According to an article in Facebook’s newsroom, the app is now officially taking convenience to the next level when it comes to choosing your next meal by facilitating payments for online delivery and takeout. The network had previously tested the capability before rolling it out to all of its users in the U.S.
The article states the new functionality “combines options from a number of food ordering services and popular restaurants so you don’t have to search through multiple places to find what you’re looking for.” And all this can be done by visiting the “Order Food” section via the explore menu. You then select your desired option (takeout or delivery) and then which delivery service partner you would like to use. And if you don’t already have an account with delivery.com, for example, you can create one on site without even having to leave the Facebook app.
Cross-border e-payments leader PPRO Group opens a new office in Atlanta. In a recent blog post, the company explains the reason for the strategic opening is to “help American online businesses expand their international customer base using locally preferred e-payment methods.” According to the same source, when compared to most European and Asian e-commerce markets, the US has some catching up to do.
Steve Villegas, Vice President, Partner Management at PPRO, is stated in the same post as saying “our success in selling our service proposition has significantly increased the number of US-based customers we have and we are committed to ensuring a close partnership with them. Naturally, this was a key factor behind our decision to open an office in the region. The majority of US e-commerce sites still focus exclusively on their domestic market and credit cards. This is despite the fact that businesses that sell cross-border, report nearly double the sales revenues of those that don’t.”
Apple looks to India for next Apple Pay launch. As part of their next global growth initiative, the innovative technology company is looking to partner with established players, like Paytm, to launch its Apple Pay service in India, according to a recent article in LiveMint.com.
The same article quotes Apple senior vice president Eddy Cue as saying “you have some great payment mechanisms today and we will leverage all of that in doing this. That’s one of the advantages that we have with Apple Pay—Apple Pay isn’t trying to come up with a brand new payment vehicle, so the fact that people like Paytm are doing well here is great. The fact that credit cards are doing well here is great. We just need to integrate with the popular ones and make the service available.”