Currently available only in Singapore, this software development kit will allow consumers to make payments on mobile apps directly
PayPal has launched its latest offering — a mobile software development kit (SDK) that will allow consumers to make payments on mobile apps directly. Currently available only in Singapore, this SDK aims to help businesses to integrate a mode of payment within their applications to provide a seamless and secure experience.
According to research done by PayPal, two in three Singaporeans have made online payments on a mobile device. “A lot of traffic has shifted from mobile apps to native apps. However, over the last few years, we have noticed that it is not just the big players like Golden Village or Qoo10 that have caused this shift, but even the small and medium enterprises (SMEs) that want to provide a unique payment experience to their consumers,” said Rahul Shingal, Country Manager for Southeast Asia, PayPal, in an interaction with e27.
The key features of PayPal’s mobile SDK include allowing consumers to pay via Paypal and linking it to the application without being redirected to another page to make payments and having to enter their financial details repeatedly. “Small and medium enterprises can basically offer a service to their customers that they were previously unable to,” Shingal added.
“We are expecting hundreds of integrations, if not thousands in Singapore. According to industry statistics, we also expect mobile commerce to be almost 3/4 of the e-commerce market in Singapore,” said PayPal.
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Businesses such as HotelQuickly, Coastes, Dilivrit and My Laundry Box have since integrated PayPal’s SDK within their mobile applications. According to Coastes, it has seen 20 per cent increase in revenue and 30 per cent increase in customer return since the integration of the SDK within the digital menu on its mobile app.
“We have over 1.5 million active accounts in Southeast Asia. Our key markets are Singapore, Malaysia and Indonesia. What we see is that a large majority, almost north of 70 per cent of e-commerce purchases are intangibles such as inbound travel, freelance services, digital content, as they naturally bypass issues of logistics and the like,” observed PayPal on the trend that demand for intangibles is growing faster than that for tangibles.
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