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PayPal’s Out to Steal NFC’s Thunder



Comments (11)

  1. Philip Cohen says:

    Etsy Announces Direct Checkout

    http://www.etsy.com/teams/7718/site-help/discuss/9749500/page/1/

    “Beginning today, we are rolling out direct checkout. This is a new and optional way for shop owners in the US to accept and manage credit card payments from buyers directly on Etsy.

    “… it’s up to you as a shop owner to decide which payment methods you accept. Direct checkout is a new and additional option — we currently have no plans to discontinue offering PayPal or other methods now available.”

    This development will be well worth watching. It will be a good measure of just how much the clunky PreyPal is despised by a great many merchants: just watch how quickly the Etsy merchants stop offering PreyPal as a Payment option; judging from the great many reader comments on the linked announcement, there will be a rapid opt-out of PreyPal …

    eBay / PayPal / Donahoe: Dead Men Walking

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  2. Kara says:

    Since mobile payments are new, I think PayPal is smart in capitalizing on the current systems in place. It also make is much lower risk for participating retailers.

    Smaller companies are also attempting to take on the Goliaths of Google and PayPal. AisleBuyer was the first to introduce mobile self-checkout and integrates into a retailers existing POS system.

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  3. MadeInManhattan says:

    Ridiculous that we would keep putting money in the pockets of paypal when they have single handedly screwed so many mercants out of money! (http://www.aboutpaypal.org ) They are not even regulated! When will we learn???

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  4. That make sense meaning while A new vulnerability in Google Wallet gives thieves access to your funds, even if the application data has been erased.And Especially because it capitalizes on the fact that many retailers aren’t equipped to handle NFC payments at this time. One of te main barrier for mobile payment/ mobile wallet are the pos integration, this why we at Digimo Mobile Payment invented technology that does not required any software or hardware integration into POS.

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  5. Paypal’s vision of commerce is compelling, but too exclusive…

    Paypal is forgetting that POS will remain in stores for many many years. Why ? Because many many people will stick to plastic cards.

    And the US POS migration to EMV will introduce NFC at the same time. Yes, it is a long journey to migrate 8 M POS in the country. But maybe not much longer than to integrate Paypal acceptance software in any cash register.

    By the way, this EMV migration will cause another problem to Paypal. Chip & PIN will become the standard, and also the basis of liability along the value chain. Merchant will benefit of liability shift only for card present transactions… and paying with Paypal at POS won’t be a card present transaction. So Paypal will have to handle liability… and fraud… (fraud always migrate very quickly to the weakest point in the chain)

    So, I’d bet that Paypal will integrate back NFC in one or two years time. No big deal for them.

    At the end of the day, this is all good marketing buzz from Paypal against current NFC competitors who strive to make it happen !

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  6. Kurtis says:

    Purely from a payment-processing perspective, this makes sense. However, NFC will have numerous other uses beyond payment processing.

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  7. Philip Cohen says:

    eBay / PayPal / Donahoe: Dead Men Walking

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  8. Mark says:

    But I don’t want to give my phone number out to get spammed!!!

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  9. With NFC someone has to steal your phone. The proposed PayPal solution someone could key log your phone number and PIN. NFC appears to be more secure to me… just sayin’ Dan

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  10. Justin Fritz says:

    Dan, I agree that NFC’s more secure. But PayPal can certainly cater to those who prefer convenience over security. We know they’re out there!

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  11. Thaihir says:

    First make sure the credit card you wish to use is added to your appyal accout. If you only have a bank account in your appyal you can add a credit card by going to My Account, then to your profile, then under Financial Information you will be able to add a credit card. When you are paying for an auction, right before you check out and press the pay button, you can edit your payment details (there should be a link on the checkout page) and from there you can choose which card you wish to use. Hope that helps!

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