08 December 2016
Visit aciworldwide.com

PayPal adopts NFC for direct phone-to-phone payment transfers

14 July 2011  |  8453 views  |  0 PayPal logo

PayPal has unveiled a peer-to-peer near-field communications-based payments widget that lets Android phone users transfer money by tapping handsets.

To transfer money, one person uses the widget to request a specific amount from another. The pair then tap their phones together and the person paying is prompted to enter their PIN to complete the transaction.



PayPal Mobile senior director Laura Chambers unveiled the widget at the MobileBeat 2011 conference. It will launch later this summer in the US, although initially only Samsung Nexus S owners will be able to use the technology.

The system is similar to the non-NFC Bump feature PayPal has incorporated in its Android and iPhone app for some time. However, the company says the new widget is simpler to use, requiring fewer steps.

In a blog, Chambers says: "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 behaviour 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."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Google makes land-grab in new mobile commerce gold rush

Google makes land-grab in new mobile commerce gold rush

13 July 2011  |  12175 views  |  1 comments
PayPal to acquire mobile payment company Zong

PayPal to acquire mobile payment company Zong

07 July 2011  |  10273 views  |  0 comments
Danish telcos team on NFC payments; banks put faith in SMS

Danish telcos team on NFC payments; banks put faith in SMS

24 June 2011  |  9721 views  |  1 comments
Google takes the wraps off mobile wallet

Google takes the wraps off mobile wallet

26 May 2011  |  15606 views  |  1 comments
From 'tap and go' to 'tap and hold': Mobile NFC found lagging

From 'tap and go' to 'tap and hold': Mobile NFC found lagging

19 April 2011  |  13434 views  |  2 comments
Orange and Samsung unveil contactless phone

Orange and Samsung unveil contactless phone

14 February 2011  |  12189 views  |  0 comments
Google Android gets NFC

Google Android gets NFC

16 November 2010  |  14643 views  |  0 comments
PayPal iPhone app lets users 'bump' phones to pay

PayPal iPhone app lets users 'bump' phones to pay

16 March 2010  |  12671 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit capgemini.comVisit aciworldwide.comFind out more

Top topics

Most viewed Most shared
Guesswork alone can crack Visa card security - Newcastle UniversityGuesswork alone can crack Visa card securi...
7708 views 12 comments | 15 tweets | 27 linkedin
OCC to offer fintech firms bank charter statusOCC to offer fintech firms bank charter st...
7598 views comments | 25 tweets | 15 linkedin
China tops world fintech rankingsChina tops world fintech rankings
7512 views comments | 36 tweets | 30 linkedin
EBA bends under weight of PSD2 mandatesEBA bends under weight of PSD2 mandates
6882 views comments | 34 tweets | 46 linkedin
Fed Governor sounds warning on alternative credit scoring dataFed Governor sounds warning on alternative...
6591 views comments | 20 tweets | 23 linkedin

Featured job

to Six-Figure Base, Commission, Benefits
London, UK

Find your next job