As any regular visitor to our site will know, there is always plenty of activity in the digital payments space. There are many different tools and services out there to help both consumers and businesses with their money management, but one name that crops up time and time again is PayPal.
The payments organization has become a real powerhouse in the area and it continues to strike new deals as it looks to boost its presence further.
Digital payments integration
A good example of this was seen earlier this month, when digital payment solutions provider ACI Worldwide confirmed it was collaborating with PayPal. The partnership will bring digital wallet payment options to ACI’s biller clients, as PayPal and Venmo are being integrated with ACI Speedpay. The statement on the collaboration added that one of the clients set to benefit is the not-for-profit Monroe County Water Authority, which has already implemented PayPal and is looking to add Venmo too.
The release also suggested there was plenty of appetite for such services. According to an ACI Speedpay Pulse study, 56 percent of Gen Z and millennial consumers would think about paying a bill with the likes of Venmo or PayPal if they had the option.
Embraced by many
The news of this latest collaboration is intriguing and arguably just the latest sign of PayPal’s massive presence in the world of digital payments.
PayPal services have been embraced by a wide array of businesses through the years and the official website touches upon how it can be used across areas including the fashion and travel industry. As an example, British Airways outlines how consumers can use PayPal to pay for flights online. Another sector making use of the service is the business of online casinos. There are various payment methods that tend to be accepted but the most favored seems to be PayPal, as some casino comparison sites in the USA allow players to filter by which brands accept it. This is likely because PayPal is thought to be one of the most discreet methods you can use.
PayPal’s partnership with ACI Worldwide is just the latest collaboration it has been involved in too. For instance, earlier this year we reported on how it had teamed up with Fiserv. The announcement detailed how businesses using Clover and the Carat omnichannel commerce ecosystem would be able to accept PayPal and Venmo payments via QR codes.
One of the biggest names
When it comes to discussing the world of digital payments, there is no denying that PayPal is one of the area’s biggest names. The collaboration with ACI Worldwide is just the latest example of how it is being embraced and all eyes will be on whether consumers do ultimately use it for their bill payments.
This area is always evolving, so it will also be fascinating to see what other collaborations involving PayPal emerge in the months and years ahead.