Would You Feel Comfortable with Your Bank Running Daily Deal-Style Discounts?
Well hold on to your checkbook tight, because according to DiscountVouchers.co.uk CEO, Gerald Doyle, that is exactly what PayPal will be doing if they complete their transition into the discount arena. In an exclusive statement, Doyle who has overseen DiscountVoucher’s launch into daily deals publicly addresses his concerns with and warnings about PayPal’s upcoming move to discounts and how it will more than ‘stir-the-pot’, per say, for all involved in the industry.
- Gerard Doyle CEO of DiscountVouchers.co.uk
“PayPal is fundamentally a bank and banks hold a privileged position in our society where trust and integrity are essential. PayPal needs to decide if they are a bank or a merchant. If they start emailing daily deals to their customers I’m not sure if the reaction would be 100% positive. It could backfire and they could end up biting the hand that feeds them.
Daily deals experts may be asking if PayPal’s move into the discounts arena dilutes their focus – but undoubtedly they will have a significant advantage as they have data on millions of users over the world. PayPal has an enviable database of consumer data that if correctly utilized would provide them with a unique competitive advantage. They need to seriously consider how their customers will react if they think their buying history is being used to feed them special offer.” - Gerard Doyle, CEO DiscountVouchers.co.uk
MORE ON THIS: We dive into the details of the huge impact PayPal’s database will make in an article earlier today.
“Like Google, PayPal run the risk of upsetting their merchant clients by entering the same space in direct competition.”
“Paypal’s decision feels very much like Google’s move into different vertical search markets; no doubt PayPal has seen the huge sums being spent at daily deal sites and decided they’d like a bigger slice.
PayPal would be better placed in a supporting role with an existing company where PayPal provides anonymous personalization direction to the deal emails along with low cost transaction. Combining with an existing Daily Deal website in this way would create a true Groupon competitor.” - Gerard Doyle, CEO DiscountVouchers.co.uk
About DiscountVouchers.co.uk
DiscountVouchers.co.uk features the latest money saving offers from a growing range of retailers, all updated in real time. Designed to help consumers save money with both leading high street brands and specialist retailers, DiscountVouchers.co.uk offers one of the widest choices of discounts available.Part of ASAP Ventures Ltd, the company behind the award winning Carrentals.co.uk price comparison site, DiscountVouchers.co.uk is committed to offering a growing range of the best savings available online.
