On Monday, [PayPal] announced 23 new retail partners, plus a special testing feature with Jamba Juice. On Tuesday, it announced integration with NCR. And on Wednesday, its parent company, eBay, announced its Q4 earnings in the immediate aftermath of one of the biggest retail tradeshows of the year, NRF 2013…After my trip to NRF, I accepted an invitation from PayPal to check out their Commerce Innovation Center in New York City to sit down for an exclusive interview with Anuj Nayar…The center was comprised of a mix of solutions that are live, in beta or still in development, and of which I saw plenty of variance in viability and usefulness, too.
PayPal is not only developing new applications but also, new ways to buy and sell that will change the landscape of commerce.
- An image recognition mobile app that allows consumers to take a picture of any item and receive information instantly about price, design, availability and more.
- A QR code system designed for stadium or arena use that would allow consumers to scan, access a menu, place an order and schedule a delivery to their seat without every getting up or missing a second of their game or event.
- A merchant-facing tablet app that gives store workers real time access to data about consumers’ purchase histories, suggests items to upsell, allows for checkout and more.
Perhaps most interestingly, PayPal noted that it was able to use such an app to give consumers payment installment options, essentially allowing small businesses to extend credit at no risk to their own operations for the first time.
Carsley briefly discusses PayPal’s endeavors in TV commerce,
One of the more farfetched ideas: an Internet-enabled television set that would double as an eCommerce platform, with the accompanying logic appearing to be, “if it can connect to the web, you can sell on it.”
While is may seem farfetched now, CoreCard’s Manish Gupta details the very real potential of TCommerce. To learn more about the reality of TCommerce and other new ventures, read:
To read Ben Carsley’s full article, visit: