PayPal has partnered with electronics company LG and eCommerce platform Magneto and acquired startup Iron Pearl as it seeks to expand on its TV, mPOS and web growth practices.
PayPal and LG have partnered on a “Smart TV” platform that allows users to purchase on-demand items with their PayPal accounts. The technology can also be used to let consumers donate to charities or make purchase in real time via interactive TV ads, as Finextra notes.
PayPal and Magneto – another eBay subsidiary – have partnered on two platforms: “In-Aisle Selling” and “Order Ahead.” The first function allows store employees to accept credit or debit cards in-store through a standard swipe-and-dongle system, while the latter lets merchants create specialized menus and templates in PayPal’s mobile app. Customers can place and pay for orders outside of a physical retail store, schedule a pick-up time and then retrieve their purchases by presenting their name, order number or a QR code, as gigaom notes.
Finally, PayPal has acquired data analysis and “growth hacking” startup Iron Pearl for an undisclosed price. The Iron Pearl acquisition brings on board Stan Chudnovsky and James Currier: two well-known names within the industry who specialize in helping products and services spread virally around the web.
“It’s time for PayPal to take this very seriously,” PayPal President David Marcus told Reuters. “This is a key function of any growth company.”
Read the full Finextra story here, the gigaom piece here and the Retuers report here.
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