PayPal considers NFC a step backwards
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PayPal is working on its own solution of contactless transactions after it said Near Field Communication (NFC) would be left behind in a wave of new payment technology.
NFC is set to feature heavily in mobile devices launched this year and more and more shops are expected to support contactless payments via mobile devices. PayPal, however, has other ideas.
PayPal's VP of Mobile David Marcus told All Things Digital: "By the time NFC catches up, we'll be in a world that will move away from the point-of-sales terminal."
What's the big idea?
The eBay-owned company has instead created its own system which links your PayPal account to your mobile phone number and a pin code. »read more
More at: TechRadar UK Add additional source