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PayPal President and CEO Dan Schulman’s interest of late has been in telling the tale of the connected economy and PayPal’s role in it as the super app connection point that concerns need. No one, he recently said, wants to have 40 or 50 apps on their phone, or take on the security liability that will necessarily follow that all of those apps are under a single password that is likely already for sale on the dark web. The world needs super apps to bring those disparate experiences together into something smooth and secure, which is what Schulman said PayPal can offer: consolidation of all of those financial instruments.
“And by the way, those financial instruments include rewards points, and the ability to choose buy now, pay later, or even use QR codes,” Schulman told Webster. “On the consumer side, we’re a consumer platform, and that has tremendous scale — we can add more and more services where people can live a lot of their digital lives on this app. For merchants who clearly want to be in the digital-first economy, this can be the operating system that enables them to move into a full, true, digital omnichannel experience.”
https://www.pymnts.com/earnings/2021/paypal-to-launch-super-app-in-q3-2021
