PayPal will get a new look and a first worldwide marketing campaign, which should help it to stay ahead of its mobile competitors, as the competition is growing ever fiercer.
Focus on mobile payments
Its new logo, unveiled on Wednesday, has been kept simple on purpose, which is better for mobile appliances. PayPal will also get its very first United States marketing campaign through a television ad.
A transformed logo and a marketing campaign signal PayPal's intent to focus more on the mobile market and on the possibility to pay for their physical goods through their smartphone, for example. "Our brands and the ways consumers are going to experience them, the way people are going to touch us, is going to change hugely in the coming years", Christina Smedley (vice president of global brand and communications) said.
Large potential market
Research has indicated that the American mobile payment market will reach 90 billion dollars (65 billion euro) by 2017, with a worldwide worth of 721 billion dollars (520 billion euro).
PayPal currently has 143 million users, but is not used that often for transactions in American stores, a problem it hopes to remedy with this marketing campaign. On a worldwide scale, some 3 to 7 % of consumers pays with their smartphone in stores, but 27 % says it would want to use this mean of payment.