PayPal to use NFC for peer to peer payments

Ever since Google Wallet was launched not too long ago, it seems to have inspired the NFC-payment movement in the country, with the next company to enter the game being PayPal – one of the world’s most popular ePayment systems. Today, PayPal has just announced the launch of its NFC-enabled Android widget that lets its users make payments with their smartphones.

Instead of having to log on to PayPal to authorize a transaction, users can now just bump two NFC-enabled phones together i.e. the Samsung Nexus S to exchange money. The receiver will request the amount, while the payer will confirm the amount, and input their PIN to complete the transaction. It’s that simple. No word on when this feature will be rolling out to consumers, but we can’t wait. Now all we need are more NFC-capable phones in order to make this technology take off. Watch a demo video of how it works after the break:

George Wong
Categories: Cellphones
Tags: NFC, payment, paypal