Amazon introduced the concept for web purchases and has been trying to promote one touch on other web sites, but now Apple, BitPay, MasterCard, Visa are all trying to reduce payments friction to become “top of wallet” with consumers. Now according to this article in re/code, PayPal has also entered that fray:
“Last year, PayPal made it easier for people to pay with PayPal on mobile apps. Now, the online payments giant will try to do the same thing for the Web.
Today, PayPal is introducing its One Touch payment product for mobile and desktop websites. The product prompts online shoppers to enter their PayPal usernames and passwords once on a computer or phone, and then buy stuff on sites that accept PayPal without re-entering any password, payment or shipping information. The product, PayPal believes, can help online merchants that accept PayPal increase sales, as PayPal says One Touch has done for app makers on mobile phones.
In some ways, the new product seems like an attempt to bring Amazon’s 1-Click payments to the rest of the Web. It also allows PayPal to beat Apple Pay in the transition from mobile apps to websites, which Apple hasn’t yet made. But while PayPal is calling the product One Touch, it actually requires two clicks to complete a purchase, depending on how you count it. Shoppers need to click once to choose PayPal as the payment option on a given website, and then click or touch again to confirm a shipping address and PayPal funding type.”
PayPal has been stagnant for years, but the spinoff from eBay may be energizing the sleepy payments giant.
Overview Tim Sloane, VP, Payments Innovation
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