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PayPal Adds In-Store Solutions With iZettle Acquisition

Retail TouchPoints – PayPal will acquire iZettle, a small business commerce platform operating in Europe and Latin America, for $2.2 billion. The deal will combine iZettle’s in-store solutions with PayPal’s global scale and mobile and online payment systems.

PayPal will gain in-store capabilities in Brazil, Denmark, Finland, France, Germany, Italy, Mexico, The Netherlands, Norway, Spain and Sweden, where iZettle works with nearly 500,000 merchants. Additionally, the deal will open near-term in-store expansion opportunities in some of PayPal’s other markets, and accelerate the growth of its omnichannel commerce solutions in Australia, the UK and the U.S.

The move toward omnichannel could be beneficial for PayPal, as 81% of retailers are expected to deploy unified commerce platforms by 2020, according to a survey by Boston Retail Partners (BRP). As of February 2018, 28% of respondents were already using a single platform to support commerce for stores, mobile and the web.

Read Full Article: PayPal Adds In-Store Solutions With iZettle Acquisition

Guess Which Digital Payment Method Is Most Popular (Hint: It Isn't PayPal)

The Motley Fool – Mobile payments will eventually replace credit cards. The dynasty of credit card companies is coming to an end. So says CEO Michael Corbat ofCitigroup Inc. (NYSE:C), the world’s largest provider of credit cards. In an exclusive interview with The Australian Financial Review, Corbat said, “We know, at some point, cards are going to go away, and it’s just going to be digital wallet, digital payments.”

That type of pronouncement by an industry leader in credit cards confirms a trend that many had already recognized — digital payments are the wave of the future, and the future is arriving more quickly than you might think. In a recent survey, 64% of consumers reported having made a mobile payment in the past 12 months, and the total transaction value of digital payments is forecast to top $738 billion this year.

New research from Boston Retail Partners reveals that 36% of North American retailers accept Apple Inc.‘s (NASDAQ:AAPL) Apple Pay, more than any other payment system. Another 22% say they plan to accept the iPhone-maker’s payment solution with the next 12 months.

Read full article: Guess Which Digital Payment Method Is Most Popular (Hint: It Isn’t PayPal)