PayPal is parlaying its dominating online presence and emerging brick-and-mortar stature to cable television boxes and digital video recorders.
The eBay subsidiary recently inked deals with Comcast and TiVo that will enable programming viewers to purchase goods and products with their PayPal accounts using a remote control. From a Finextra article:
The deal with DVR (digital video recorder) giant TiVo means that, beginning this Autumn, firms will be able to run interactive TV advertisements that let viewers buy the product through PayPal with a few clicks of their remote control.
A similar agreement with Comcast Cable will let viewers make purchases or donations related to the content they’re watching either directly through their TV using the remote control, or on a companion device such as a phone or tablet. The pair are also looking at ways to let consumers accept coupons directly into their PayPal online wallet during ads.
PayPal is dubbing this initiative the maturation of “t-commerce,” which it claims is on the verge of becoming mainstream. A recent company survey revealed 50% of cable TV subscribers have shown interest in buying items and services promoted and linked through the content they’re viewing.
PayPal’s new partnerships could turn into a boon for the company in this day and age when consumers frequently watch programs on their DVR to avoid commercials. Through this system, retailers now can reach those “lost” customers and capture some spend they might have otherwise missed.
Click here to read more from Finextra.