Welcome!

News Feed Item

ADDING MULTIMEDIA Time, Money and Tech: PayPal Study Reveals Global Attitudes

From its first day, PayPal has helped revolutionize the way people across the globe think about and use money. As part of its recent global rebrand, PayPal today announced findings from a 15-country survey aimed to understand both universal human attitudes and country-specific variances in perspectives about time, technology, money and other central elements of the People Economy.

The People Economy is how PayPal describes its belief that people’s lives can and should be more connected, more human, and filled with deeper meaning. People who make, share and collaborate, and those who buy, sell, and trade, all want the same thing: more of a say and less in the way. PayPal’s continued technological innovation, focus on improved processes, and mission to give people direct control over their money are integral to the People Economy. PeopleEconomy.com serves as a place to discover and be inspired by the individual voices behind this growing notion.

“At PayPal, we always strive to lead as a revolutionary brand. With our rapidly changing environment, we must create based on the needs and changes in the marketplace,” said Christina Smedley, vice president, Global Brand and Communications, PayPal. “With PayPal’s truly global marketplace, better understanding the key values we’re supporting around the world – both at universal and at country-specific levels – is essential for delivering products that further empower the people we serve. This survey furthers us in that mission.”

70 Percent of the World Thinks Technology Should Make Payments Simpler, Connected and Faster, with More Choices and Opportunities

Whether it’s the pain of the waiting on shopkeepers to take payment, annoyance at having to find and carry cash, frustration with lugging around a wallet, balking at reliance on kiosks or other things standing between people and what they want, the world is ready for what PayPal delivers: the faster, safer way to pay and get paid.

For example, in Singapore (73 percent), China (72 percent) and Australia (51 percent), the majority of people want technology to help them avoid long lines. European shoppers are more fed up with having to wait for someone to take payment or having to get cash to complete a purchase, with Spain (55 percent), Italy and Russia (53 percent), France and Turkey (41 percent) and the UK (39 percent) reporting the highest levels of dissatisfaction. The problems persist online as well; if a site requires a customer to sign up or register before making a purchase, they’re apt to lose more than half of prospective sales in Italy (52 percent), Canada (51 percent) and Spain (50 percent).

The Majority of People Waste up to Four Hours a Day on Mundane Tasks; How it’d Be Spent Varies Dramatically by Country

Whether waiting in line/queuing to pay for things, commuting to and from work or sitting in traffic, enduring pointless meetings or calls, or simply running through the day’s errands, more than half of the world (56 percent) wastes hours each day that they’d like help recapturing. Only Germany has a significant percentage (19 percent) of its population that professes being highly efficient and wasting no time. By contrast, only two percent of Americans report feeling efficient.

For the rest of the world, getting to and from work and dealing with daily routines seem to be the biggest time-sucks, with every country averaging more than an hour on each. Italians, however, have the worst commutes, wasting more than two hours each day (123 minutes on average) followed closely by Israelis (117 minutes). Russians waste nearly three hours on errands each day (166 minutes), followed by Brazilians (125 minutes), Americans (118 minutes), the Chinese (115 minutes), and the Turks (112 minutes). In the US, being stuck in traffic and pointless meetings, calls and emails come in as a close, combined second for what we waste time on (22 percent each).

While the fact that we waste time on the days’ necessities may not be surprising, how each country would spend that time if given the chance varies from country-to-country. Of those wishing to spend more of that wasted time on worthwhile endeavors, Americans lead the world in ranking family time (54 percent) as the way they wish to spend more time, while, the Japanese want to treat themselves with solitude (63 percent), the Chinese seek more physical activity (48 percent) and Spaniards want more time for leisure activities (35 percent).

“While we’re not yet in the business of solving gridlock, we know that whenever we can shave time from the payments process for our 148 million active account holders, we’re giving them back one of life’s most precious resources,” continued Smedley. “Whether spending that time with family and friends, relaxing, exercising or getting some quiet solo time, the value is immeasurable.”

Fast-Growing Economies Embrace Mobile

While keys lead the list of things people won’t leave the house without, the smartphone is just as important – beating cash and credit cards on a global scale. This statistic confirms for businesses that figuring out mobile payments is key to future sales. In fact, in some of the world’s fastest-growing economies, the majority of the population has already embraced mobile payments. In China, 90 percent of respondents pay from their phone, followed by Russia (85 percent), Brazil (nearly 70 percent) and Turkey (60 percent). Even in China, however, where mobile is mainstream, 35 percent of respondents wish paying by phone were easier. The world is ripe for continued innovation.

In the US, 54 percent say that small local businesses like farmers markets and local shops can benefit from mobile or online payments, and 49 percent believe American entrepreneurs overall would benefit from an easier flow of money.

For more information about the survey findings and for infographics illustrating its findings, click here: www.PeopleEconomy.com

About the Survey

Research was conducted April 29th to May 20th, 2014 by Reputation Leaders, an independent research firm, among 15,105 adult banked consumers aged 18 to 64 in 15 major markets. Interviews were conducted by RDD phone interviews in the US, and by online survey in Australia, Brazil, Canada, China, France, Germany, Israel, Italy, Japan, Russia, Singapore, Spain, Turkey, and the UK. Respondents were balanced by quotas in each country to ensure the sample mix was representative of national adult populations by age and gender. Key findings show both universal beliefs that transcend boundaries, and country-level differences. The margin of error for the total sample of 15,105 adults is 0.8% at the 95 percent level of confidence. In each country of 1,000 adults interviewed, the margin of error is +/-1.3% at the 95 percent level.

About Reputation Leaders

Reputation Leaders Ltd is an international market research firm based in London that specializes in helping companies to build reputations through brand positioning, thought leadership and social purpose. They specialize in conducting multi-country, cross-cultural quantitative studies that drive media headlines and market insights.

About PayPal

At PayPal, we put people at the center of everything we do. Founded in 1998, we continue to be at the forefront of the digital payments revolution, giving people direct control over their money. Through our innovations, we make life better for our over 148 million active accounts in 26 currencies and across 203 markets, processing more than 9 million payments daily. An eBay Inc. (Nasdaq: EBAY) company, PayPal is the faster, safer way to pay and get paid. The service gives people simpler ways to send money without sharing financial information, and with the flexibility to pay using their account balances, bank accounts, credit cards or promotional financing.

Visit www.paypal-media.com for more information and follow us on TwitterFacebookYouTubeLinkedIn and our PayPal-Forward blog.

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Enterprises are adopting Kubernetes to accelerate the development and the delivery of cloud-native applications. However, sharing a Kubernetes cluster between members of the same team can be challenging. And, sharing clusters across multiple teams is even harder. Kubernetes offers several constructs to help implement segmentation and isolation. However, these primitives can be complex to understand and apply. As a result, it’s becoming common for enterprises to end up with several clusters. Thi...
Microsoft Azure Container Services can be used for container deployment in a variety of ways including support for Orchestrators like Kubernetes, Docker Swarm and Mesos. However, the abstraction for app development that support application self-healing, scaling and so on may not be at the right level. Helm and Draft makes this a lot easier. In this primarily demo-driven session at @DevOpsSummit at 21st Cloud Expo, Raghavan "Rags" Srinivas, a Cloud Solutions Architect/Evangelist at Microsoft, wi...
Containers are rapidly finding their way into enterprise data centers, but change is difficult. How do enterprises transform their architecture with technologies like containers without losing the reliable components of their current solutions? In his session at @DevOpsSummit at 21st Cloud Expo, Tony Campbell, Director, Educational Services at CoreOS, will explore the challenges organizations are facing today as they move to containers and go over how Kubernetes applications can deploy with lega...
SYS-CON Events announced today that Avere Systems, a leading provider of hybrid cloud enablement solutions, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Avere Systems was created by file systems experts determined to reinvent storage by changing the way enterprises thought about and bought storage resources. With decades of experience behind the company’s founders, Avere got its ...
SYS-CON Events announced today that Taica will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. ANSeeN are the measurement electronics maker for X-ray and Gamma-ray and Neutron measurement equipment such as spectrometers, pulse shape analyzer, and CdTe-FPD. For more information, visit http://anseen.com/.
Today most companies are adopting or evaluating container technology - Docker in particular - to speed up application deployment, drive down cost, ease management and make application delivery more flexible overall. As with most new architectures, this dream takes significant work to become a reality. Even when you do get your application componentized enough and packaged properly, there are still challenges for DevOps teams to making the shift to continuous delivery and achieving that reducti...
As you move to the cloud, your network should be efficient, secure, and easy to manage. An enterprise adopting a hybrid or public cloud needs systems and tools that provide: Agility: ability to deliver applications and services faster, even in complex hybrid environments Easier manageability: enable reliable connectivity with complete oversight as the data center network evolves Greater efficiency: eliminate wasted effort while reducing errors and optimize asset utilization Security: imple...
High-velocity engineering teams are applying not only continuous delivery processes, but also lessons in experimentation from established leaders like Amazon, Netflix, and Facebook. These companies have made experimentation a foundation for their release processes, allowing them to try out major feature releases and redesigns within smaller groups before making them broadly available. In his session at 21st Cloud Expo, Brian Lucas, Senior Staff Engineer at Optimizely, will discuss how by using...
In this strange new world where more and more power is drawn from business technology, companies are effectively straddling two paths on the road to innovation and transformation into digital enterprises. The first path is the heritage trail – with “legacy” technology forming the background. Here, extant technologies are transformed by core IT teams to provide more API-driven approaches. Legacy systems can restrict companies that are transitioning into digital enterprises. To truly become a lead...
SYS-CON Events announced today that Yuasa System will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Yuasa System is introducing a multi-purpose endurance testing system for flexible displays, OLED devices, flexible substrates, flat cables, and films in smartphones, wearables, automobiles, and healthcare.
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend 21st Cloud Expo October 31 - November 2, 2017, at the Santa Clara Convention Center, CA, and June 12-14, 2018, at the Javits Center in New York City, NY, and learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.
SYS-CON Events announced today that CAST Software will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CAST was founded more than 25 years ago to make the invisible visible. Built around the idea that even the best analytics on the market still leave blind spots for technical teams looking to deliver better software and prevent outages, CAST provides the software intelligence that matter ...
SYS-CON Events announced today that Daiya Industry will exhibit at the Japanese Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Ruby Development Inc. builds new services in short period of time and provides a continuous support of those services based on Ruby on Rails. For more information, please visit https://github.com/RubyDevInc.
When it comes to cloud computing, the ability to turn massive amounts of compute cores on and off on demand sounds attractive to IT staff, who need to manage peaks and valleys in user activity. With cloud bursting, the majority of the data can stay on premises while tapping into compute from public cloud providers, reducing risk and minimizing need to move large files. In his session at 18th Cloud Expo, Scott Jeschonek, Director of Product Management at Avere Systems, discussed the IT and busine...
DevOps at Cloud Expo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 21st Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to w...