PayPal is preparing for offline payments

PayPal is preparing for the upcoming entry into force of the EU Digital Services Act (DMA) with a new initiative: Offline payments. As TechCrunch reports, the company plans to expand its domain physical transactions.

This is for PayPal DMA represents a significant change taking place Allow third-party applications to access NFC technology, which currently supports Apple Pay. Therefore, iPhone users can choose alternative mobile wallets as your default option. At this point, the company hasn’t provided many other details about its plans to comply with Apple’s DMA or how this will specifically impact PayPal.

In the words of AlexChris, PayPal CEOThe company’s strategy focuses not only on continuing its successful collaboration with Apple, but also on finding new ways to meet its users’ demand for omnichannel and offline solutions.“. Although the CEO did not reveal specific details about when PayPal will implement the offline solutions enabled by the DMA, he assured: “The company will be ready to do so as soon as the new functionality is available“.

PayPal’s foray into physical payments is not new. Over the last decade, PayPal has made several attempts, from partnering with national retailers in the United States to developing mobile wallet technologies and using QR codes. But despite these efforts Apple Pay continues to be the main player in this sectorparticularly in the United States.

On the other hand, Mobile wallets are widespread in Europe. According to recent studies, the majority (72%) are actively involved in this technology. By 2024, the mobile payments market size in Europe is estimated to reach $108.35 billion (€100,611.7 million); and $373,290 million (€346,627 million) in 2029. While Apple and Google have gained ground, 90% of Europeans have used PayPal services, according to the data.

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The DMA, the comes into force on March 7thThe aim is to end persistent unfair practices in the digital ecosystem and address the role of digital gatekeepers in the online market.

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