Paypal Holdings Inc (NASDAQ:PYPL) has announced that is working together with Facebook Inc (NASDAQ:FB) in a collaboration that will integrate PayPal’s payment services with Messenger.
The partnership will make it easier for customers to make online payments with ease while conveniently receiving message notifications about their services. For example, users will receive receipts via messenger for every online purchase they make. Customers will be able to make payments for a wide range of services using Messenger as long as the merchant receiving the payment is a PayPal customer. The new feature will be available to US customers who have both Facebook and PayPal accounts.
“This is about allowing you to conduct commerce whenever you want to be doing it,” stated PayPal’s head of global initiatives, Anuji Nayar.
The PayPal executive also pointed out that it is a smart move because people are shifting towards mobile platforms. Online shopping using laptops and desktops is slowly becoming less attractive for this reason and the fact that handsets are convenient and very mobile. PayPal has been planning to cast its net beyond transactions and into the consumer segment. The firm has been striking partnership deals with companies such as Visa Inc (NYSE:V), Mastercard Inc (NYSE:MA), Alibaba Group Holding Ltd (NYSE:BABA) and Vodafone Group Plc (ADR) (NASDAQ:VOD).
Facebook was a vital target for PayPal because of its deep roots in social media and the fact that last year the company announced a plan to expand Messenger so that it can facilitate payments. Facebook Vice President David Marcus revealed in September that his firm would integrate bots that can accept payments directly within Messenger. PayPal’s EVP Bill Ready has also confirmed that merchants will soon receive payments through their bots.
“We will continue to execute on our vision of offering PayPal in more places where people shop online, in app and in store by partnering with companies who share our desire to create meaningful products that benefit both consumers and merchants,” stated Ready.
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Paypal stocks closed the latest trading session at $43.87.