PayPal once was the king of perception among younger shoppers, consumers who sought sites specifically that accepted PayPal, which was also more readily available to teens who would be unable to get credit cards on their own. But Apple Pay has sucked much of the mobile air out of the room, leaving PayPal with a serious shortage of youthful payment buzz.
“If you’re below 30, PayPal’s not relevant,” Piper Jaffray analyst Gene Munster told Bloomberg. “With consumer awareness, Apple is out there overnight. That’s a piece PayPal is desperately struggling with.”
That story also quoted Arielle Gurin, a 22-year-old student at the University of Maryland saying that PayPal is “outdated already. I know you have to have it for like EBay, or you can use it for Amazon. But I feel like it’s not big anymore.”
Davis Meiering, an undergraduate student at the NYU Stern School of Business, is quoted as saying that it’s not what he turns to on his phone, whether it’s for payments between friends or in stores. “I don’t use the PayPal app on my phone,” Meiering, 20, told Bloomberg. “I only ever use it online.”