PayPal CEO Dan Schulman: Announces Shift To Mobile Payments, Says They Will Be 'More Than Just A Button'

Digital business firm Paypal is establishing itself as "more than just a button" to an international payments platform as it prepares separation from mother company eBay by the end of the year.

New PayPal CEO Dan Schulman, in PayPal's Commerce: Rewind event, said the company will undergo changes at a time when financial services business is experiencing some fundamental changes. They are planning to re-imagine PayPal as a SaaS platform.

How consumers are beginning to use mobile technology to make a purchase is a large part of that change.

According to Schulman, the disparity between offline and online commerce is primarily disappearing and blurring. Paypal has 165 million active users worldwide. One out of three transactions by PayPal is now by mobile technology.

Schulman believes PayPal can be a world leader in this shift to mobile payments. "I can see us having more mobile transactions than we do through desktop", he said.

The payments business is very in demand today, because of the payment abilities on watches and smartphones. Schulman said that over a billion of transactions were done in mobile in the early part of 2015 and that the number of mobile transactions had increased to 40 percent a year.

The international mass adoption of mobile is around 2 billion people all over the world.

The event is a move to build PayPal as beyond payments platform supported by eBay. PayPal confirmed last week that it would go as "PYPL" on the Nasdaq.

PayPal plans to spin off from eBay, its mother company, in the latter part of 2015. It would be powering Paydiant, a moblile payments gateway which PayPal purchased in the first quarter of 2015. Paydiant has established itself as a substitute to other smartphone payment systems provided by Apple and Google.