Every year, thousands of people make their way to Austin, TX to attend the very popular SXSW Festival. And this year, the festival brings lots of entertainment, news and more. Among the man companies that will be carrying out a demo is PayPal, which plans to give SXSW attendees a taste of the future digital wallet.
There is no doubt that PayPal is the king in its industry, and while others have attempted to compete, only a few have managed to stay afloat. Since it was founded in 1998 in California, PayPal didn’t carry out a complete redesign of its products until now. After all, their goal is to provide customers with the convenience of paying for their purchases online, which removes the hassle of having to carry paper money or even credit cards.
The demo at SXSW will be conducted by the company’s VP of Global Product & Experience, Sam Shrauger. He has the entire session planned out and his objective is to awe the attendees, by showing them how PayPal is completely digital and how it comes to revolutionize the world. The interesting thing is that all users will have the capability of adding their personalization touch to their wallet, and customize it to fit their own needs and desires. Shrauger adds that people will have a chance to see their money work in a way they never thought possible.
Besides the advantages that PayPal already presents, their new digital wallet will give the customer the following conveniences:
Grace period: Consumers will have the chance to purchase an item at a store and bring it home, while taking advantage of a grace period that goes from 5 to 7 days.
- Installments: Consumers will be able to pay off their purchases in payments
- Applying gift cards: The digital wallet will enable consumers to use their airline miles, gift cards, among others.
- Spending Limits: The customization will allow consumers to set their own boundaries and rules regarding their purchases.
- Lists: Just like eBay, consumers will be able to build their lists of items in order to compare prices and other charges.
- Deals: Find, save and use deals and coupons.
It may be difficult at first to grasp the different new opportunities that PayPal’s digital wallet presents. However, in order to simplify it, just imagine that you just saw a new laptop that has been recently released. You have accrued over 13,000 miles with your airline credit card and you saved $100 gift card from a relative. Currently, there is no way for you to combine the values of the two towards your laptop purchase, but PayPal’s digital wallet will allow you to do just that!
Today’s world has become digitalized, and the internet has allowed us to connect with each other rather easily. While PayPal is not looking to prevent you from swiping your debit or credit card, it’s surely presenting you with innovative and extremely convenient options.
If you’re planning on attending the SXSW, be sure to check Sam’s demo from today, March 13. If not, keep your eyes open as PayPal is planning on making these features available the last weeks of May.