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PayPal Revamps App to Make it More Simple and Personalized
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PayPal Holdings, Inc. (PYPL - Free Report) is revamping its cellular application in a bid to focus more on its foremost options, particularly sending and requesting of funds.
The revamping of mobile app will make its most popular function, sending and receiving money, much simpler to use. On the other hand, few buttons like Affords, Donate, Order Forward, among others, will be shown under a new “Extra” menu to make the homescreen look simpler and easier to use.
In addition, the homescreen will have enough space to show all personalized notifications. A few of these include alerts relating to the cash obtained or fee requests from different giant blue playing cards.
As of now, the company’s new app on Android will be available in select markets of Australia and Italy. It is expected to be rolled out in the United States and different markets worldwide, followed by a launch on iOS.
With the latest move, PayPal will make its app more personalized, which is likely to attract more merchants to its platform, making it a bit more like millennials' favorite payment app. This will enhance the customer base of the company, in turn aiding its top-line growth in the long haul.
E-Commerce Market Holds Promise
In today’s fast moving world, e-commerce has gained immense popularity. It will continue to gain traction in the long haul with the increased penetration of internet and mobile phones. The e-commerce market has resulted in the emergence of online payment services and apps.
Enhancement of the mobile app is thus expected to complement PayPal’s growing Payments segment.
According to data from Statista, revenues in this sector are expected to hit $1.7 trillion in 2018 and $2.5 trillion in 2022, at a CAGR of 9.6% between 2018 and 2022.
Per Technavio’s latest report, the global e-commerce payment market is expected to generate $135 billion by 2022.
We believe PayPal is well poised to leverage e-commerce sector’s growth potential with strong payment solutions.
Bottom Line
Competition from other companies in the market continues to intensify as the world becomes more and more cashless. The Cash App, Square’s (SQ - Free Report) mobile payment app counterpart and bank-backed Zelle are challenging Venmo, PayPal’s mobile peer-to-peer payment app that allows for quick transfer of money between family and friends.
Therefore, such innovative moves are vital to keep attracting new customers to the platform, which should help Paypal to have an edge over peers.
Paypal has performed relatively well in the past year. The company’s shares have returned 48.5% over a year, outperforming the industry’s rally of 40.7%.
Also, in the last reported quarter, Paypal added 7.7 million active accounts, with net new active accounts up 18%. The firm also saw a notable 28% increase in total payment transactions to 2.3 billion. This aligns with a 29% boost in total payment volume to $139 billion. The firm’s peer-to-peer payment app Venmo, which Paypal acquired in 2014, saw a massive 78% year-over-year boost in TPV to $14 billion.
We believe continued innovation will continue to attract merchants and customers to PayPal’s payment platform.
Long-term earnings growth for Infineon Technologies and Rambus is currently projected to be 7.5% and 10%, respectively.
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
Image: Bigstock
PayPal Revamps App to Make it More Simple and Personalized
PayPal Holdings, Inc. (PYPL - Free Report) is revamping its cellular application in a bid to focus more on its foremost options, particularly sending and requesting of funds.
The revamping of mobile app will make its most popular function, sending and receiving money, much simpler to use. On the other hand, few buttons like Affords, Donate, Order Forward, among others, will be shown under a new “Extra” menu to make the homescreen look simpler and easier to use.
In addition, the homescreen will have enough space to show all personalized notifications. A few of these include alerts relating to the cash obtained or fee requests from different giant blue playing cards.
As of now, the company’s new app on Android will be available in select markets of Australia and Italy. It is expected to be rolled out in the United States and different markets worldwide, followed by a launch on iOS.
With the latest move, PayPal will make its app more personalized, which is likely to attract more merchants to its platform, making it a bit more like millennials' favorite payment app. This will enhance the customer base of the company, in turn aiding its top-line growth in the long haul.
E-Commerce Market Holds Promise
In today’s fast moving world, e-commerce has gained immense popularity. It will continue to gain traction in the long haul with the increased penetration of internet and mobile phones. The e-commerce market has resulted in the emergence of online payment services and apps.
Enhancement of the mobile app is thus expected to complement PayPal’s growing Payments segment.
According to data from Statista, revenues in this sector are expected to hit $1.7 trillion in 2018 and $2.5 trillion in 2022, at a CAGR of 9.6% between 2018 and 2022.
Per Technavio’s latest report, the global e-commerce payment market is expected to generate $135 billion by 2022.
We believe PayPal is well poised to leverage e-commerce sector’s growth potential with strong payment solutions.
Bottom Line
Competition from other companies in the market continues to intensify as the world becomes more and more cashless. The Cash App, Square’s (SQ - Free Report) mobile payment app counterpart and bank-backed Zelle are challenging Venmo, PayPal’s mobile peer-to-peer payment app that allows for quick transfer of money between family and friends.
Therefore, such innovative moves are vital to keep attracting new customers to the platform, which should help Paypal to have an edge over peers.
Paypal has performed relatively well in the past year. The company’s shares have returned 48.5% over a year, outperforming the industry’s rally of 40.7%.
Also, in the last reported quarter, Paypal added 7.7 million active accounts, with net new active accounts up 18%. The firm also saw a notable 28% increase in total payment transactions to 2.3 billion. This aligns with a 29% boost in total payment volume to $139 billion. The firm’s peer-to-peer payment app Venmo, which Paypal acquired in 2014, saw a massive 78% year-over-year boost in TPV to $14 billion.
We believe continued innovation will continue to attract merchants and customers to PayPal’s payment platform.
PayPal Holdings, Inc. Price and Consensus
PayPal Holdings, Inc. Price and Consensus | PayPal Holdings, Inc. Quote
Zacks Rank & Stocks to Consider
Currently, PayPal carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the same industry are Infineon Technologies AG (IFNNY - Free Report) and Rambus Inc. (RMBS - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Long-term earnings growth for Infineon Technologies and Rambus is currently projected to be 7.5% and 10%, respectively.
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
See Them Free>>