PayPal Makes Big Strides with Mobile Wallets in Australia
MasterCard and Visa both recently announced plans to launch mobile wallets in Australia, but it seems that PayPal may have the upper hand.
PayPal has signed contracts with EatNow and OrderMate to process payments at over 2,000 restaurants in Australia. The company did this “to enable Australian customers to save time, order and pay on any device, moving us a step closer to a time when the traditional wallet will be left at home.”
All of these changes are occurring due to PayPal’s efforts to expand to point of sale software. This started in 2012 with the launch of PayPal’s Application Programming Interfaces. Many American retailers like Home Depot and Dollar General have already begun accepting PayPal payments in their stores. Now restaurants in Australia will do the same.
Managing director for PayPal Australia Jeff Clementz said, “Over the last year, PayPal has been collaborating with hospitality and POS companies to provide more flexible and secure payment options for Australian consumers, making it easier than ever to pay how they want, when they want. Our five million active Australian accounts now have access to over 90,000 Australian merchants online, offline and on their mobile.”
This may put a slight damper on MasterCard and Visa’s plans for rapid expansion in the mobile wallet industry.