Mobile payments are clearly the future of commerce and we are seeing everyone from retailers to banks claiming their territory for what's to come.
With a number of recent announcements, PayPal is clearly making the biggest play in this space.
- PayPal launched PayPal Here (a means for merchants accept credit cards via a mobile device.)
- Back in May the in-store payment app system, ShopKeep POS, which is utilized by over 2,000 merchants, announced that they would now be incorporating PayPal as a payment option.
- Now PayPal just announced that they are partnering with15 national retailers that will allow their customers the option to use PayPal as a payment method in-store. A special app will provide users with a unique barcode and transaction number, which is used for deducting payment from their PayPal balance. Participating retailers include Abercrombie & Fitch, JC Penny, and Nine West.
- Home Depot will be the first retailer to incorporate this technology into nearly 2,000 of their store locations.
When you mobile payments battle really heats up, do you think PayPal has a chance against major credit card companies like Visa and Discover? What about banks? Bank of America?
