Payments

Tech Giants Keep Aside their Rivalry for Good (and for the Customer)

MEDICI

PayPal is now available as a checkout option on Apple’s online retail store in the US and UK. Apple is also promoting PayPal’s credit system which offers buyers up to 18 months to pay off a purchase and that too without interest. Apple already offers PayPal as a payment option for the iTunes Music Store and the App Store. This is quite interesting since Apple had become a payments rival to PayPal post the launch of Apple Pay.

PayPal has already made attempts at throwing flak over Apple Pay by running an ad targeting Apple’s iCloud hack. With the use of PayPal in its online hardware store, Apple seems more interested in providing convenient payment options to customers rather than trying to dominate the payments space. Apple seems focused on providing as many payments options as possible to those looking to buy Apple’s products.

Here is an illustration highlighting PayPal’s integration into Apple’s online retail store:

paypal apple online

Going through Apple Pay’s list of official partners, PayPal was amongst them. With the current deal, PayPal gets an opportunity to offer its payments services to one of the largest online stores in the US. Braintree, owned by PayPal, is already fully capable of processing Apple Pay transactions.

This is the beauty of how Silicon Valley software companies deal with things. It’s not about them or their products, it is about the customer and that makes the big difference. Apple and PayPal appeared to be at loggerheads but they have resolved the issue quickly so both can benefit from it. PayPal was initially kept out of the official partnership list and was portrayed as a competitor.

Now that PayPal is being accepted at Apple Stores, PayPal might become an official partner in the near future. Moreover, Braintree would get more integrated into Apple’s system.

MEDICI Team

MEDICI

MEDICI Team is a group of content writers, bloggers, journalists, researchers, and editors from the MEDICI team who collaborate to create FinTech insights.

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