PayPal APAC has announced mo.bi.pay, a mobile solution for SMBs to integrate a customizable shopping cart on their mobile site.
Mo.bi.pay (mobile built-in Payments ) is a plug-in developed by Singapore based Vertical Solutions, and gives small to medium sized businesses the ability to integrate a mobile shopping cart on an existing Ecommerce website without affecting their standard desktop version. As the mo.bi.pay plug-in works in conjunction with PayPal’s mobile best practices, the customizable shopping experience offers secure mobile transactions, and will help reduce the amount of shopping cart abandonment.
According to PayPal APAC’s regional head of SMB Kris Chen, Ecommerce merchants with mobile adapted websites have seen 245% year-over-year growth in total mobile transaction volume. In contrast, merchants without a mobile centric offering have seen only 118% year-over-year growth in mobile payments.
“Buyers will have problems browsing, purchasing and checking out on their mobile devices, and ultimately orders will drop off. Given there are no costs to the merchant and no membership sign-up or additional address requirements to fill out on the customer's device, we're seeing significant interest in mo.bi.pay." Kris Chen added.
PayPal, has been expanding their mobile offerings as of late, and has begun to offer integrated in-app purchases through their updated SDK, and is already featured on black car service application Uber. Mcommerce growth was also one of PayPal president David Marcus’ predictions for Ecommerce in 2014.
