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Author Topic: P2P PayPal payments  (Read 936 times)
alkor
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July 14, 2011, 11:42:02 AM
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Apparently PayPal is going to enable "p2p" payments between two android phones through the emerging near field communication technology. Of course, this is not a true p2p technology, as at some point the transaction has to go though PayPal's central clearing house, but it is interesting that they are putting a "p2p" spin to it. One wonders whether the emergence and success of bitcoin has anything to do with that?

Source:
http://arstechnica.com/gadgets/news/2011/07/paypal-debuts-peer-to-peer-payments-on-smartphones-via-nfcp2p-paypal-payments-coming-via-nfc-capable-phones.ars
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killer2021
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July 14, 2011, 11:46:40 AM
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Apparently PayPal is going to enable "p2p" payments between two android phones through the emerging near field communication technology. Of course, this is not a true p2p technology, as at some point the transaction has to go though PayPal's central clearing house, but it is interesting that they are putting a "p2p" spin to it. One wonders whether the emergence and success of bitcoin has anything to do with that?

Source:
http://arstechnica.com/gadgets/news/2011/07/paypal-debuts-peer-to-peer-payments-on-smartphones-via-nfcp2p-paypal-payments-coming-via-nfc-capable-phones.ars

The emergence of bitcoin has nothing to do with it. These companies know that the next, "big thing" to going to be mobile payments. Eventually everyone is going to have a smart phone and everyone is going to pay for stuff by just, "swiping" your phone. In the process there will be transaction fees. Whoever's technology gets more used or widely accepted is going to make billions in pure profit. Thats why every big tech company is developing some sort of phone based payment processor.

The same technology could be applied to bitcoin and eventually will be. It is somewhere at this point that using bitcoin will be insanely easy if not easier and more convenient than traditional banking.

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elggawf
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July 14, 2011, 12:30:55 PM
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It's not because of Bitcoin - they've had "bump" on smartphones for ages, this news is just about them using hardware NFC to do it instead of (I believe) Bluetooth.

^_^
Smalleyster
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July 14, 2011, 07:14:04 PM
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And don't forgt paypal still dings merchants for 3% bump or no bump, and will still raid your bank account whenver they feel like it.

http://paypalsucks.com/

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Serge
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July 14, 2011, 07:43:23 PM
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Some online wallet systems identify P2P as personal2personal accounts transactions, and sometimes they have different transfer fees depending whether it's P2P, B2B, B2P or P2B
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