|By Business Wire||
|July 8, 2014 04:05 PM EDT||
Please replace the graphic for the release dated July 07, 2014 with the accompanying corrected graphic.
The release reads:
TIME, MONEY AND TECH: PAYPAL STUDY REVEALS GLOBAL ATTITUDES
Global Survey Supports Value of Empowering People Economy
United States Looks to Foster Small Business Growth with Money Flowing More Freely
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.
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.
Without a clear strategy for cost control and an architecture designed with cloud services in mind, costs and operational performance can quickly get out of control. To avoid multiple architectural redesigns requires extensive thought and planning. Boundary (now part of BMC) launched a new public-facing multi-tenant high resolution monitoring service on Amazon AWS two years ago, facing challenges and learning best practices in the early days of the new service. In his session at 19th Cloud Exp...
Dec. 7, 2016 09:30 AM EST Reads: 828
SYS-CON Events announced today that Dataloop.IO, an innovator in cloud IT-monitoring whose products help organizations save time and money, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Dataloop.IO is an emerging software company on the cutting edge of major IT-infrastructure trends including cloud computing and microservices. The company, founded in the UK but now based in San Fran...
Dec. 7, 2016 09:21 AM EST Reads: 131
Fact: storage performance problems have only gotten more complicated, as applications not only have become largely virtualized, but also have moved to cloud-based infrastructures. Storage performance in virtualized environments isn’t just about IOPS anymore. Instead, you need to guarantee performance for individual VMs, helping applications maintain performance as the number of VMs continues to go up in real time. In his session at Cloud Expo, Dhiraj Sehgal, Product and Marketing at Tintri, sha...
Dec. 7, 2016 09:15 AM EST Reads: 1,063
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...
Dec. 7, 2016 09:15 AM EST Reads: 7,237
Much of the value of DevOps comes from a (renewed) focus on measurement, sharing, and continuous feedback loops. In increasingly complex DevOps workflows and environments, and especially in larger, regulated, or more crystallized organizations, these core concepts become even more critical. In his session at @DevOpsSummit at 18th Cloud Expo, Andi Mann, Chief Technology Advocate at Splunk, showed how, by focusing on 'metrics that matter,' you can provide objective, transparent, and meaningful f...
Dec. 7, 2016 09:15 AM EST Reads: 4,599
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
Dec. 7, 2016 08:30 AM EST Reads: 1,859
Whether your IoT service is connecting cars, homes, appliances, wearable, cameras or other devices, one question hangs in the balance – how do you actually make money from this service? The ability to turn your IoT service into profit requires the ability to create a monetization strategy that is flexible, scalable and working for you in real-time. It must be a transparent, smoothly implemented strategy that all stakeholders – from customers to the board – will be able to understand and comprehe...
Dec. 7, 2016 08:15 AM EST Reads: 483
An IoT product’s log files speak volumes about what’s happening with your products in the field, pinpointing current and potential issues, and enabling you to predict failures and save millions of dollars in inventory. But until recently, no one knew how to listen. In his session at @ThingsExpo, Dan Gettens, Chief Research Officer at OnProcess, discussed recent research by Massachusetts Institute of Technology and OnProcess Technology, where MIT created a new, breakthrough analytics model for ...
Dec. 7, 2016 08:00 AM EST Reads: 426
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain. In this power panel at @...
Dec. 7, 2016 07:45 AM EST Reads: 817
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smar...
Dec. 7, 2016 07:30 AM EST Reads: 823
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
Dec. 7, 2016 06:45 AM EST Reads: 1,998
@DevOpsSummit at Cloud taking place June 6-8, 2017, at Javits Center, New York City, is co-located with the 20th International 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 wait for long developm...
Dec. 7, 2016 06:30 AM EST Reads: 1,812
Kubernetes is a new and revolutionary open-sourced system for managing containers across multiple hosts in a cluster. Ansible is a simple IT automation tool for just about any requirement for reproducible environments. In his session at @DevOpsSummit at 18th Cloud Expo, Patrick Galbraith, a principal engineer at HPE, discussed how to build a fully functional Kubernetes cluster on a number of virtual machines or bare-metal hosts. Also included will be a brief demonstration of running a Galera MyS...
Dec. 7, 2016 06:15 AM EST Reads: 5,332
"We build IoT infrastructure products - when you have to integrate different devices, different systems and cloud you have to build an application to do that but we eliminate the need to build an application. Our products can integrate any device, any system, any cloud regardless of protocol," explained Peter Jung, Chief Product Officer at Pulzze Systems, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 7, 2016 05:15 AM EST Reads: 1,062
"We are an all-flash array storage provider but our focus has been on VM-aware storage specifically for virtualized applications," stated Dhiraj Sehgal of Tintri in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 7, 2016 04:00 AM EST Reads: 873