PayPal has announced its launching a mobile app that enables shoppers to buy stuff on their smartphones – using their face. PayPal has developed the new mobile app that will enable shoppers to pay for goods automatically using the latest facial recognition technology. As the global market for mobile rapidly expands and the market for desktop PC’s dramatically shrinks, this move suggests PayPal are serious about competing via smartphones and tablet devices. If your business involves commerce or selling via the web or mobile, facial recognition technology will enable a faster and smoother buying process for customers. If you haven’t considered how facial recognition might impact your business in the future, now is a goods time to get ahead of the curve.
Check-in to pay with your face
Using the new app developed by PayPal, for the first time ever in the UK, shoppers will be able to pay directly for goods and services and be recognised by their picture and first name. The new mobile app for PayPal is capable of highlighting nearby shops and restaurants that accept PayPal as a form of payment. Customers via the mobile app can then ‘check-in’ to specific shops by tapping on individual retailers.
Mobile App shopping growth
It’s estimated that by 2017 the market for M-Commerce (mobile commerce) will be worth $3.2 trillion. That’s a huge amount of zeros and a staggering figure that genuinely depicts the way the market is moving. Customers have shifted away from traditional retail stores on the high street, through desktop based online shopping right through to mobile. As highstreet retailers started to feel the pinch, desktop online shopping exploded. Now the big shift for retailers, and the major strategic challenge, will be to move as effectively from desktop commerce to mobile.