PayPal Doesn’t See NFC in Our Future
PayPal, one of the major innovators of financial services and payments, is not riding the NFC (near-field communication) bandwagon and the company believes that 2013 will mark the death of this mobile-payment method (Google Wallet and Isis Mobile Wallet probably disagree).
“Is tapping a phone a terminal any easier than swiping a credit card?” said David Marcus, president of PayPal, in a company blog post. “I don’t think so — it’s not solving a real consumer problem and it’s not providing additional value to encourage me (or anyone else for that matter) to change my behavior.”
Instead, Marcus believes that the future of digital wallets will involve new shopping experiences that integrate payments, loyalty programs and coupons.