eBay owned online payment giant PayPal recently held an event at Los Angeles that disclosed hints that the company is upgrading its services to serve their clients better. Businesses and consumers will benefit from the improvements that the company will adopt.

According to a blog post of PayPal's chief executive Scott Thompson, PayPal is making money work for businesses and consumers. No matter what device you own or wherever your location in the world is and how you want to pay.

The company said that it is trying provide everything that a client needs when it comes to making secured and safe online payments. It said that it wants to be a one-stop shop for merchants and consumers. Businesses, both online and local, will be able to manage payments of customers better.

PayPal is mum about the details of the new features but improvements include location-based offers, making payments through any device and more flexible payments to customers.

The new features include businesses accepting payments made by customers using their mobile phones with QR codes. Consumers, on the other hand, can obtain real time store inventory, offers and discounts as well as advertisements from stores.

PayPal's vice president of Global Product and Experience Sam Shrauger, the new platform is not all about the payments. The services aims to connect the merchants and consumers.