PayPal Co-founder Launches New Service for Mobile Payments

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Max Levchin-the co-founder of PayPal, has launched a new mobile payment service that is going to compete in all the mobile payment businesses in the world. To start with, it is important to note that the mobile payments business is really crowded these days and is also growing like mad. The new service has been named Affirm. This service is going to empower the users to make online payments in a matter of a few seconds. They would be able to complete the payments from their Smartphones and all other mobile devices with high levels of convenience.

Not to forget that PayPal, which is owned by eBay, is the leading online payments company in the world. Millions of users from all across the globe make use of the service for a number of different reasons. However, now the company is being challenged by various competitors like Moneybookers, Square Inc. and many more due to which they must offer something new and more exciting to the customers. There is no sort of shortage in terms of opportunities as well as problems which have been created by the boom of the mobile commerce sector. In lines to this, Affirm plans to reshape the whole concept of mobile payments in order to generate a huge fan following.

Moreover, the company also plans to streamline the entire mobile check out processes. The whole scenario involves typing and adding in a lot of information including the address and card numbers. In order to have the confirmation of the identity of the users, Affirm is making use of Facebook Inc. So, the first time users would be required to log on to the service by making use of their Facebook accounts. After logging into their accounts, they would be required to confirm the Affirm app to access their personal information, after which the process will continue.

Levchin used to be the chief technology officer of PayPal before it had been acquired by eBay. He is the person to be credited for the designing and construction of the various user interfaces and security modules of the websites, which are indeed quite safe and efficient till the present times. At the same time, PayPal has also been criticized to be less-user friendly due to which the new rivals are improvising on this opportunity. The Chief Financial Officer of eBay, Bob Swan has stated that the market is indeed quite vast due to which more and more players are being attracted into the game. He also added PayPal needs to go that extra mile in terms of offering the customers and users with fast checkouts and related options.

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