Jul 13 AT 2:59 PM Edgar Cervantes 4 Comments

Video: PayPal announces new NFC peer-to-peer transactions

Most people with NFC-enabled devices have not put it to use, but that will definitely change in the near future. Google wallet is set to be the first major NFC player in the U.S. and is even planning to offer NFC stickers you can slap on your device if your phone doesn’t feature such technology. Google has jumped ahead of the game in this area, but PayPal is coming up with some NFC solutions as well.

PayPal Mobile has just announced that their new peer-to-peer payment solutions will be released sometime during late summer. Paypal will basically allow users to make transactions with each other by using the Android PayPal app by simply tapping each their devices together. There will be a widget available for easy access, and if you look at the video below, you’ll see how simple it is to choose the transaction amount, tap and accept.

If you’re one of the proud owners of an NFC-enabled device and are dying to use that chip, the time is coming! Of course, it will be a bit hard to find other Nexus S (or any other NFC-enabled device) owners, but this is only the beginning of the NFC era. Soon enough, we might all be making purchases and transactions by tapping our phones! What do you guys say? Are you excited for PayPal’s new NFC payment solutions? Will you be using it? Any Nexus S owners out there have other friends with NFC phones? Check out PayPal’s demonstration in the video below and let us know what you think. Yes, the video may not seem exciting. And the music is a little weird. It may make you feel they’re making a top-secret $10 transaction in a suspense thriller. But it does show the process for their new NFC services, and that’s mostly what we care about.

Show Press Release
PayPal Uses NFC to Make Peer-to-Peer Payments Easier than Ever

Today at MobileBeat 2011 we took another step towards realizing the PayPal vision of creating an entirely new way for people to shop and pay – anytime, anywhere and on any device – with the announcement of our peer-to-peer NFC solution. At this morning’s session, I had the privilege of demoing our new NFC-enabled Android widget that lets people pay and get paid in a matter of seconds by simply tapping together two Samsung Nexus S phones. This feature will be out in the market late this summer. The video below shows how it works.

Link to video: http://youtu.be/ovxA35hQ058

You have to use it to believe it, but with a simple “buzz” you’ll be able to transact with friends, family, colleagues and employees easier than ever before. Sometimes the most obvious solutions are the most elegant.

We’re seeing staggering growth in PayPal mobile payments, showing a real consumer desire for the way they shop and pay to catch up with the way we live. But at PayPal, we’ve said all along that consumer behavior won’t change unless we’re able to offer an experience that’s truly better than what’s available today. We’ve been looking at NFC technology for a while and we saw a tremendous opportunity to combine the best of NFC and the best of PayPal.

PayPal is again leading the pack by bringing NFC payments to life on the Android platform. But this is just one of the many ways we’re using different technologies, on different devices, to change the way people pay and get paid. Stay tuned for more exciting announcements from PayPal in the weeks and months to come as we make our vision for the future of money a reality in everyday life.

Hello, I am Edgar Cervantes. I am an avid Android fan, and keeping myself updated on the topic is part of my daily life. I will always work hard to give the best of me to our community of Android enthusiasts, and I am very honored to be part of this ship. Hopefully we can all enjoy sharing our knowledge and opinions!

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