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Online payments: PayPal aims to become the “super app”

01/06/2021
Categories: Economy/Forex

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The American payments giant dreams of being a “super app”. In search of growth drivers, he aims to add even more services to his application. The Californian company's perspective would be to imitate the success of Chinese “super apps” such as WeChat and Alipay. The American payment giant, which has more than 400 million customers spread across more than 200 markets, dreams of becoming a “super app”, according to an announcement by its boss, Dan Schulman, at an investor day in February

.

PayPal already allows its users to invest in cryptocurrencies. The group found that half of customers who have opened a crypto account on PayPal come to check their application every day. However, PayPal is far from having the interactivity of a WeChat, which is originally a social network, or the wealth of services of an Alipay, which combines financial services and

a marketplace.

For PayPal, this transformation means, at first, eating more and more of the pie that banks used to share, even if PayPal's main competitor “is cash.”

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