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PayPal Holds Lead in Mobile Wallets

PayPal seems to be maintaining its lead in themobile wallets space. The company established a prominent place in the mobile commerce space years ago, being one of the first to draw attention to the convenient nature of mobile payments and through its offering of innovative digital and mobile services. PayPal has faced down competition from other companies that have entered into the mobile commerce space and has managed to excel where other companies have failed. According to a new survey from CMB, consumers seem to favor PayPal over others when it comes to mobile payments. The survey shows that 71% of mobile consumers make use of PayPal’s mobile wallet, which is being used to make purchases in physical stores and on the Internet. Many of those that have not used the wallet to make a purchase in a physical store have reported that they plan to do so within the next six months.

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