Yeah I too have seen the video and the systems the Bitpay guys are building. It is really top-notch stuff. If I were a wealthy VC angel I'd be making some phone calls right now.
It might very well be 'top notch' - but it'll take a few more months before we know that - and after the latest conference I feel rather skeptic when people use phraseology like this.
That was fast, thanks for playing
PayPal users will be given a physical PayPal card that they can use to purchase products in stores. The card can be swiped on existing card machines, meaning merchants will not have to install new hardware or payment systems in their stores.
PayPal users will also be able to purchase by entering their mobile phone number at merchant terminals, or by waving their phones near terminals, according to Sam Shrauger, vice president of Global Product and Experience at PayPal.
The new PayPal technology also lets users identify themselves through their mobile phones when they walk into stores. Merchants can send discount offers to these shoppers that are automatically credited to their PayPal accounts if they buy the product being promoted.
After the purchase, shoppers can change the way they pay, putting a purchase on a credit card instead of a debit card for instance, Shrauger explained.
PayPal users can also break purchases into multiple installments that are billed against their credit card, bank account or PayPal account, he added.
All receipts are stored in PayPal accounts too, he noted.