PayPal has unveiled a new payment technology that it claims will be a one stop method for merchants to engage with customers at the stages of their shopping cycle.
PayPay’s new technology will have many useful features such as:
- Location based offers
- Flexible payment options accessible from any device
- Integrated local search
- Loyalty and reward features
Scott Thompson, president at PayPal, wrote on the company blog, “Letâ€™s be clear about something â€“ weâ€™re not just shoving a credit card on a phone.”
Shopping today is happening everywhere, 24*7. People prefer to be able to buy things anytime, anywhere. With the growth of consumer driven markets, it is very important for companies to come up with solutions that the customers want.
With this technology, PayPal expects to bring a revolution in the way people shop and pay.
The launch date for the service is not yet announced but more details will come in the coming months.
In May, Google came up with its mobile wallet services and on the very same day a lawsuit was filed against it by PayPal for stealing its trade secrets.
PayPal accused Google and Osama Bedier, former PayPal employee, of misappropriating PayPal business secrets by disclosing them to its rival Google.
Let’s see what Google has to say to this new technology of PayPal.