PayPal Launches One-Touch Mobile Checkout for Apps
PayPal is aiming to make mobile app payments a little easier with the launch of its new product, One Touch. This platform helps merchants and app developers give their customers a convenient way to pay for products and services.
One Touch is the payment industry’s only single touch payment system on iOS.
One Touch came about after PayPal’s recent acquisition of Braintree which had previously purchased the startup Venmo in 2012. One of the products in these acquisition was Venmo Touch. It had a social app allowing users to send money to one another through their phones, or to send cash to a bank account overnight. According to TechCrunch, Venmo Touch was designed to give users access to their stored payment information when using Braintree-supported apps, like Uber and Airbnb.
Mobile users won’t have to enter their credit card numbers every time they want to check out with one of these apps. They will just click a button and the information will appear. That’s the same theory that PayPal is using with One Touch.
PayPal’s network is much larger than Venmo’s and Braintree’s, which means its new development will have a greater chance of launching successfully. The introduction of One Touch will give a large number of PayPal merchants an easy way to accept payments on their applications. Consumers who are already familiar with PayPal can now get a much easier way to pay for products and services on their phones.