PayPal will be a force to be reckoned with in mobile payments

PayPal will be a force to be reckoned with in mobile payments

Summary: Apparently, PayPal is gearing up for a mobile payments makeover by May 2012; its initiative will mark another turning point for small-business solutions options in this space.

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The mobile payments space will get a lot more interesting for small businesses come May 2012, when PayPal rolls out the latest features for its PayPal digital wallet and mobile payment services.

Actually, we should hear more about the payment service's plans later this week. Among the many things that PayPay is expected to talk about: a possible mobile credit card swiping system that would compete with mobile payment solutions from Square.

The company disclosed some of the anticipated features in briefings and on its blog this week. Some of the highlights include a delayed payment options that lets a buyer change his or her mind about how to pay for something over time (such as opting for installment payments or changing from credit to debit). Consumers will also be able to create shopping lists and collect coupons that will be applied (even if they forget to apply them).

PayPal offers up two separate videos with an explanation about the new service. I'm including them both here. Each one is about 10 minutes long.

I know what you're thinking. Everyone from Google to Isis (the venture led by AT&T, Verizon Wireless and T-Mobile) and probably Apple is taking aim at the mobile payment and "digital wallet" space. But PayPal's stature among small businesses as a payment processor -- especially any business with an eBay storefront -- definitely makes its solution an appealing option. Indeed, the company predicted in January that it will process $7 billion in mobile payments during 2012. That is more than double its original guess-timate.

Related stories:

Square turns Apple iPad into cash register, beefs up analytics Wait, what, another mobile payments standard?

Topics: Banking, Enterprise Software, Mobility, SMBs

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12 comments
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  • I hope not!

    If they don't like your business they cut you off.

    Forget about PayPal.
    wally_333
  • When O When

    is PayPal going to fall under the same regulations and oversight that's imposed on other financial institutions? PayPal's autonomy and lack of regulation along with crappy customer service, is enough to keep me away from them.
    cHarley1200
  • No Thank you

    I use Paypal as little as possible and encourage others to do the same.
    wendellgee2
    • Agreed!

      I was recently screwed over by Paypal over a transaction with tigerdirect... and all I got was constant excuses, lots of script reading, and lots of boilerplate emails with absolutely no sort of accountability for what was a gross error on their part.
      athynz
  • Doubtful....

    I guess you don't realize most can't stand paypal, their fees and practices. Lump ebay in there with them.

    If I'm going the wallet route, I'll be on the side of Amazon.
    crogs
  • Nope

    I am with the other commenters on this. I use PayPal as absolutely little as possible. They have the worst customer service and very high fees. I think Amazon is probably the best in this arena and will probably be the winners.
    cmwade1977
  • paypal

    I use paypal,high fees but easy to use.I'm concerned however at the anonymity.There is no person who is a point of contact if you have a query.
    michael@...
  • I only use Paypal because I have to

    They are a thieving, arrogant company who need to be stomped on as far as I'm concerned.
    12312332123
  • Paypal has been great.

    I have been a member even before they joined with Ebay and have had no problems with them. It seems that those who are complaining are not telling the whole truth. May it's your fault that your account had problems and want to blame them. When I purchase items I use them exclusively because merchants ship items promptly even if the money hasn't been taken from my account. Now more merchants are adding payment through them. And as far as contacting them I have their customer service number to call directly and so can you. This is the best method to make payments. So you bad mouthers get it real.
    Racer9x
  • I hope Dwolla buries them!

    check out Dwolla its worth your time!
    winddrift03
  • PayPal will be a force to be reckoned with in mobile payments

    I sold a sealed in the factory wrap hard drive in the shippers box to some one in carsholton-Just because my customer did not get it immediately the next day he went crying like a italian widower to ebay & paypal telling them I had falsely advertised my item. Every clearly labeled fax I sent paypal was confirmed by my fax machine to have reached paypal but some how every one was lost, I was threatened with debt collectors
    redlandscv
  • Run Away, don't walk, Run Away from paypal

    Everyone I know has had problems with Paypal (and eBay). The protection means nothing. Paypal only cares about getting it's money, either from the seller or customer. I know sellers who properly sent an items and had their money refunded in scams (no protection there) and customers who bought items, never got them or their money back. Paypal is USELESS. And never ever leave money in your paypal account. Paypal has frozen $10,000 for one client of mine, for 6 months. Reason : 'we reserve the right to do that.' No reason given, just that they can do it.
    a final warning. STAY AWAY FROM PAYPAL
    el1jones