PayPal to launch PayPal Wallet
We previously wrote about how Google is created a new NFC (Near Field Communication) mobile payment solution called Google Wallet.
It seems now PayPal is going down the same path by creating their own wallet type device that can be swiped at credit card terminals.
There are 2 advantages of this PayPal system over Google Wallet:
1. Merchants won’t have to upgrade their commerce hardware instore, it’s a simple software upgrade.
2. PayPal Wallet is still done by swiping your card/wallet – therefore users don’t need a compatible mobile phone to use this product.
Paypal is also offering rewards, deals and loyalty points for users of the service. PayPal Wallet is expected to roll out over the coming 12 months.