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Sparkassen and Volksbanken and Raiffeisenbanken also want to launch their own applications
On June 26, Google introduced its Google Pay payment system in Germany (see Google wants to make payloads via app app attractive to them Germans), Paypal payment service provider now wants to meet this challenge, as CEO Dan Schulman told Handelsblatt. With a new version of his app, you should be able to pay his claims for "future […] as well as with Google Pay."
However, there was already a QR code reader Paypal, as Schulman announced, in the past (see PayPal gets rid of money) – but it has collapsed. The extent to which the new edition differs from attempts made in 2013 and 2016 (see PayPal retry), and if it has an impact on acceptance, will be shown.
150 billion dollars a year for "unnecessary fees and interest"?
Paypal's 60-year-old CEO praises his company's offerings as a savings opportunity for people without a bank account. However, in his unspecified statement that only Americans without such a bank account would spend $ 150 billion a year on "unnecessary fees and interest", he may have been wrong. "That would be [nämlich] a good $ 13,000 a month and a household without a bank account," as financial blogger Norbert Häring pre-calculates . At Paypal, no one was available to explain this figure yesterday.
But the wait times and bureaucratic hurdles that Schulman said he wanted to avoid without a credit card or bank account for 24 hours are more understandable. This one does not accept a check, because there, instead of his full name "Daniel" is the abbreviation "Dan", which could have happened to him also in Germany (see "you could not not prove your identity ")
After only the credit cards disappear
China, where Schulman's information says that" 95% of people are mobile ", says his words" open the way "for the # The future of financial transactions, which he sees coming in other countries, will give six billion smartphones to the world in five years. He therefore considers that a "triumphal march of digital payment" is "inevitable," but adds that it "will take a long time until the end of the money". According to him, credit cards disappear much sooner.
To follow Google, Paypal wants to "continue to buy very specific skills for one to three billion dollars a year […]," according to Swedish mobile cashier iZettle. "If it integrates strategically and financially," said Schulman, "a bigger deal is possible." However, his company was not "dependent" on a larger transaction because it could also enter into partnerships with companies like Alibaba or large financial institutions. He wants to extend the existing cooperation in Germany with the German bank.
German financial institutions want to move consumers on their own terms to mobile numbers
Except Google and Paypal try in Germany (after failure of Telekom, O2s, Vodafones and Otto-Versand) as well as banks of 39, savings and banks Volksbank and Raiffeisen, consumers to their mobility conditions: Both groups of financial institutions with a large customer base, Google therefore refuse cooperation and have announced their own applications for the summer. While Google has managed to win Commerzbank as a partner, Apple has not yet agreed with German financial institutions (see Google Pay: Mini-Start in Germany).
See also the #heiseshow of July 5: Mobile payment – Is the end of money coming to an end?
( Peter Mühlbauer )
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