#PayPal announces NFC peer-to-peer payments
"We’ve been looking at NFC technology for a while and we saw a tremendous opportunity to combine the best of NFC and the best of PayPal," the online payments giant’s senior director for mobile explained as she announced the company’s first NFC service.
Sarah Clark of Near Field Communication World wrote this article on PayPal’s first NFC service.
PayPal has announced its first NFC product, a peer-to-peer payments solution for Android NFC phones. The new product was unveiled at MobileBeat 2011 today by Laura Chambers, senior director of PayPal Mobile.
"You have to use it to believe it, but with a simple ‘buzz’ you’ll be able to transact with friends, family, colleagues and employees easier than ever before," Chambers writes on the PayPal Blog.
"Sometimes the most obvious solutions are the most elegant," she adds. "We’re seeing staggering growth in PayPal mobile payments, showing a real consumer desire for the way they shop and pay to catch up with the way we live. But at PayPal, we’ve said all along that consumer behavior won’t change unless we’re able to offer an experience that’s truly better than what’s available today. We’ve been looking at NFC technology for a while and we saw a tremendous opportunity to combine the best of NFC and the best of PayPal."
At the MobileBeat event, Chambers demonstrated the new service in action, with an NFC-enabled Android widget that lets people pay and get paid by simply tapping together two Nexus S NFC phones. PayPal has also produced a video showing how the new service works:
"PayPal is again leading the pack by bringing NFC payments to life on the Android platform," Chambers continues. "But this is just one of the many ways we’re using different technologies, on different devices, to change the way people pay and get paid. Stay tuned for more exciting announcements from PayPal in the weeks and months to come as we make our vision for the future of money a reality in everyday life."
For more information on the latest NFC developments visit www.terrapinn.com/nfcwme