By MyBankTracker  Tue Dec 18, 2012

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 at 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.

Subscribe to our Newsletters

 

Add Your 2 Cents

  • Alex Johnson

    I completely agree with David Marcus. People get caught up in the hype
    of the new “innovation” and it doesn’t make sense. At this time there is
    no reason to believe that NFC will take over. Like Marcus said it
    doesn’t solve any current problem, so why should we use it?