PayPal Ditches the NFC Bandwagon

By  |  February 9, 2012
 | 

As the market for mobile commerce heats up, PayPal has decided to withdraw from the pursuit of NFC-based payment applications, according to a report by Wall Street Daily.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

     

     

    PayPal has written off NFC development, but can 221 experts be wrong? PYMNTS.com’s report “NFC Payments & Marketing Innovation: Current State and Future Outlook” paints a rosy picture of how NFC will ignite in 3-5 years and change payments forever. If you’re investing in NFC, have invested or are on the fence, check out this piece to find out more.

    PayPal stated that it felt the technology would be a “step backward” for point of sale transactions. The company’s decision is likely attributable to its recent NFC pilot program, which was wrapped up in Dec. 2011.

    Upon ending the pilot, the company reported a lack of investment and interest by the retail industry. PayPal further stated that the overwhelmingly lukewarm response would not prove to be enough to sustainably propel the project going forward.

    However, the company emphasized its commitment to mobile commerce. The company is currently working to find a similar service that will satisfy consumers and retailers as well as outpace NFC technology.

    Click here to read the complete article.

    Related: PayPal Innovation Guru Shares Secrets to POS Success

    Advertisement: Scroll to Continue


    See More In: