PayPal’s End Run Around the Payment Status Quo
PayPal president Scott Thompson has revealed a sneak peek of upcoming technologies from the online payment company. The new payment options center around smart phones, and allow tricks such as paying in a store via phone and bypassing the checkout line, or entering a PIN and phone number at a register instead of a credit card number. Payment through phones took off long ago in Asia, and has been gaining increasing acceptance in the United States. PayPal’s concepts are notable because they avoid new gadgets or the near-field communication technology used by alternative offerings such as Google Wallet.
Thompson writes:
Let’s be clear about something–we’re not just shoving a credit card on a phone. PayPal is reimagining money and making it work better for merchants and consumers–whatever device you’re on, wherever you are in the world, and however you prefer to pay (whether that’s cash, credit, or installments).
The company released a concept video that outlines the new payment systems.
Keep Reading
Most Popular
DeepMind’s cofounder: Generative AI is just a phase. What’s next is interactive AI.
“This is a profound moment in the history of technology,” says Mustafa Suleyman.
What to know about this autumn’s covid vaccines
New variants will pose a challenge, but early signs suggest the shots will still boost antibody responses.
Human-plus-AI solutions mitigate security threats
With the right human oversight, emerging technologies like artificial intelligence can help keep business and customer data secure
Next slide, please: A brief history of the corporate presentation
From million-dollar slide shows to Steve Jobs’s introduction of the iPhone, a bit of show business never hurt plain old business.
Stay connected
Get the latest updates from
MIT Technology Review
Discover special offers, top stories, upcoming events, and more.