On the third floor of a very inconspicuous building in New York City is one of the most cutting-edge testing sites for emerging technology platforms. PayPal’s “Innovation Center” is hidden in plain sight among New York’s other attractions such as Time Square and the Empire State Building, and most people walk by it without even batting an eyelash. However, the testing and think-tanks that are percolating inside this mecca of tech would make even a grown man’s mouth drool with gadgets and apps galore that one could only fathom in their wildest dreams.The Innovation Center is actually a fairly old concept that is just becoming a talked about institution in the annals of tech culture. Opened in 2011, the venue has been increasing in foot traffic steadily since its debut. The place looks more like a mini-mall than a testing zone with different suits setup to demo unique and interesting things. The showroom’s purpose is to demonstrate PayPal’s latest technologies as well as ones they are considering releasing in the futures; even if it is only a mock-up with examples of how it could be used in real life.
The biggest reason that the PayPal Innovation Center is getting media is because of a new feature they are planning to release that allows online merchants to accept PayPal as a form of payment without the guest ever leaving the website. This has been a hot button issue for many retailers who want to keep their brand intact and not look like a two-bit operation be sending their customers off-site to pay for their goods.
Additionally, PayPal announced some integration upgrades in association with eBay to make the shopping experience more pleasant there as well. Since the majority of PayPal’s revenue comes from eBay sale commissions, staying on top of that partnership is crucial to the company’s success moving forward.
Overall, PayPal’s Innovation Center is going to be making more waves as they continue to expand their functionality and consumers continue to expect more out of their apps and software. Having a showcase to demo their new features and get feedback from users in real-time will be massively beneficial, especially since many people hiding behind the guise of a keyboard and monitor or touchscreen can be disingenuous when it comes to their criticism. We expect big things from PayPal in the future, and their cutting-edge Innovation Center will help them win the future.