PayPal is teaming up with Google’s newly released feature: Android Pay – a mobile payment platform in an effort aiming to extend PayPal’s range of online services on mobile devices. The partnership was recently announced by the two companies and this will allow users to use PayPal as an instrument of paying when availing everyday retails from transportation, restaurants to local groceries and any other consumer-related stores.
The acclimatization in Android Pay will commence by consenting Android customers to choose their PayPal balance as a process of payment, but will still upturn to cover the financial cards that users have added to their PayPal account in the months onward.
By advancement, the other half of incorporation is with Discover; therefore PayPal in the Android Pay wallet will be fully functional at anyplace in the Android Pay itself and Discover as they are accepted.
The agreement tracks further activities on PayPal’s part to produce trusts with the key card systems, which also had comparable goals of mounting PayPal’s impression by teaming up with the executives, as an alternative of exchange with participating companies.
In the preceding period, PayPal concluded its issues with Visa making its online payment service an opportunity for consumers to pay with their smartphones in stores, and permitted Venmo users to instantaneously take out money when their Venmo account was connected to their Visa cards. In a short time, the company labeled this exertion as “a new PayPal” that is “actively partnering across the digital payments landscape.”
The firm then made a similar deal with MasterCard, which is again intended for the related reasons mentioned above. That partnership also qualified MasterCard’s digital wallet service as a payment option for PayPal’s Braintree sellers.
About Android Pay
Android Pay is a mobile payment service that was released last Wednesday and has various features and associated banking giants such as the Bank of America, Bank of New Zealand, Discover, mBank and USAA.
Recently, it also welcomed a whole new batch of banking associates such as Bank of Stockton, Boundary Waters Bank, Citizens Bank of the South, Country Bank for Savings, Countryside Bank, First Green Bank, First State Bank of the Florida Keys, and Indiana University Credit Union. The new android feature currently supports 18 different banks and is soon to expand internationally as Google planned.
Some of the known features of the apps are card management, payment methods and card deactivation. All of these will be useful if the app of the chose bank is installed. For example, if one chooses to deactivate a Barclays Card, it would not be done unless the app is installed or if attempted to do it with another bank’s app.
PayPal Holdings opened trading at 43.09 and closed at its high of 43.19. It had a low of 42.86 in its recent session. As for the other indicators, RSI barely moved from its position and is currently at 55.41. Coppock Curve, on the other hand, is seen to show some good progress but it is still in a negative zone specifically at -1.22. A hold on buy would be best advised.