PayPal added instant package tracking to its online order monitoring app, eliminating the need for online shoppers to manually enter order numbers or check their email for delivery status. Instead, PayPal streamlines the process by automatically collecting shipping information and tracking deliveries using Gmail integration.
TechCrunch reported that PayPal users may still use the instant package tracking tool even if their PayPal account is not linked to their Gmail account by manually entering the tracking information. Among the significant advantages of the new PayPal app feature is that it is free and may be utilized for transactions where PayPal was not used during checkout.
When there is an update to the order or a change in the delivery status, the app will send out live push alerts. It also provides a visual tracking feature that enables consumers to keep an eye on their parcels on a real-time map. Users have the choice to effectively and conveniently track their delivery.
The addition of the instant package tracking tool in the PayPal app puts Amazon and Shopify in direct rivalry with PayPal. Shopify's Shop app offers real-time order progress, delivery, and map tracking. Additionally, Amazon offers a "Map Tracking" tool that lets consumers see where their delivery person is.
Keeping Up with The Competition
PayPal always attempts to increase the post-purchase options it offers and improve the buying experience for its users as it responds to competition from other payment providers with this service.
According to Market Screener, Apple Pay, Stripe, Ayden, Google, and Amazon want to enter the market, endangering PayPal's once-privileged position. Despite the competition, PayPal manages a sizable amount of transactions and is still a key participant in the payment processing industry.
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The firm handles 23 billion transactions worth $1.4 trillion each year for 35 million merchants in 200 marketplaces and 150 currencies. PayPal's combined infrastructure, compliance record, and security commitment support these excellent numbers. However, PayPal must adjust to the changing market dynamics due to threats from rivals and a changing environment.
Former PayPal President and CEO to Speak at This Year's Money20/20
Meanwhile, former PayPal President and CEO Dan Schulman will speak at Money20/20, a well-known fintech event showcasing inspirational talks on financial innovations and market dynamics. The event will be held in Las Vegas on October 23, at 2 p.m. PT, offering firms a unique opportunity to learn about industry issues and future breakthroughs from experts.
According to a Business Wire article, Dan Schulman will discuss PayPal's rise to the top of the payments industry. He will also discuss his initiatives to support purpose-driven leadership and employee financial well-being. Jennifer Tescher, president and chief executive officer of the Financial Health Network, is going to moderate the conversation.
The event's 60-hour schedule is packed with ideas and conversations. Senior executives from major banks, venture capitalists, payment service providers, lending and credit corporations, startups, disruptors, and global technology organizations are scheduled to speak.
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