How PayPal is Taking "Awkward" Out of Asking Friends for Money

The mobile payment service hopes transaction fees from a plastic card, offered in partnership with MasterCard, will boost its bottom line. Venmo's move follows its rival Square's leap into the physical card space last year. Cheddar's Kristen Scholer and Tim Stenovec break down the latest.

This holiday shopping season, more people are shopping on mobile. Purchases through phones and tablets made up 41 percent of revenue over the Thanksgiving holiday season, according to Adobe. Aunkur Arya, Senior Vice President and General Manager of Mobile at Braintree, explains how the technology is driving more adoption of this trend. Mobile phone users made up 46 percent of visits to e-commerce sites on Thanksgiving, according to Adobe. Meanwhile, one-third of millennials are now willing to buy products through social media platforms and drone delivery, according to Braintree. As for what's next in this space, Arya says contextual commerce is the future of consumer behavior. This concept is the idea behind merchants and retailers taking advantage of consumer intent at the moment of discovery. Arya says this will ultimately improve conversion and end-user experience. It's all about merchants finding new ways to engage with consumers, he adds.

China, India, Thailand, and Indonesia are just a few countries with the highest rates of mobile wallet adoption in the world. So where does America stand? Rahul Chadha, senior analyst of mobile at eMarketer, joins to discuss why there is no incentive for Americans to pull out their phones when paying, causing us to fall behind.