PayPal all set to launch mobile deals

Timely capitalizing on the propensity of buyers towards compactness and convenience at the time of online shopping, PayPal—the world’s leading payment gateway—has decided to shock Groupon and LivingSocial with its new launch of mobile deals that would more likely be comprised of restaurant deals and all other great deals that smartphone owners want to catch then and there.

Media reports said the company is ready to land in the daily deal space in the beginning of next year. However, what will make the company stand out are habits-focused and location detecting daily deals it is going to offer.

Talking to a media outlet, PayPal’s president Scott Thompson pointed out the company’s motive behind the up and coming venture disclosing its plan to lift up revenue to seven billion dollars by 2013 on the back of it. The company’s revenue stood at $3.4 billion in 2010.

The San Jose-based eBay’s offspring is all set to achieve the target because of its current standings: 100 million active accounts in 190 markets. In addition, it permits payment transactions in 25 currencies.

Though the company did not make public which categories related to deal of the day might its mobile couponing service be covering, yet its prospective mobile-driven business may give a clear trace of what possibly they would be.

And, for sure restaurant deals (comScore: 31pc respondents of a survey buy food for delivery and pickup from smartphones) will be on top.

As near as 2/3 of smartphone owners are engaged in online shopping in US and that unquestionably is not a diddly-squat and can attract any enterprising technical geek towards the mobile solution designing to capitalize on vast internet retail market.

Be it fast food, airplane tickets, best deals, event passes, or cloths, all have come under the radar of mobile shoppers.

We can expect a breakthrough in how a mobile technology is used for promoting hot deals after the entry of the market leader. Acquisition of Zong in August has reinforced the company’s leadership in mobile payment transactions.