|Do it all in one single application? PayPal did. © Paypal|
To meet the needs of its users, PayPal is constantly improving its services. Recently, the American platform launched the first version of its super app, offering a combination of financial tools, including direct deposit, bill payment, digital wallet, peer-to-peer payments, shopping tools. , cryptographic capabilities, and more.
THE PAYPAL SUPER APPLICATION IS THE MASTER-KEY TOOL
In a conference call with investors, PayPal CEO Dan Schulman announced the end of coding for the super app wallet. The great app combines payments, savings, bill payment, cryptocurrency, shopping, and more. Thus, the American firm wants to be more than a simple payment button for its community, but rather a place where there are tools apps, like WeChat, including a whole series of crypto services. In other words, PayPal wants to transform its platform into a one-stop-shop for purchases and finance.
For the CEO of the firm, each portfolio will be “unique, driven by advanced AI and machine learning capabilities.” Schulman also said that “it’s hard to be a great app,” while being aware of the competition in the market.
A GREAT APP THAT COULD SEDUCE MORE THAN ONE
In addition, the American firm’s super app will help attract more users and engage existing ones even more. Thus, it will certainly be profitable for the cryptocurrency. Lately, the online payment giant raised the cap to $ 100,000 a week in crypto that users residing in the United States can buy.
As a reminder, Venmo, the PayPal-owned payments company that launched virtual currency trading in April of this year, recorded around $ 58 billion in payments in the second quarter of 2021, with more than 76 million active accounts.