PayPal teams up with Verifone to develop new mobile payment technologies

PayPal teams up with Verifone to develop new mobile payment technologies

2010-10-27 09:43:53 GMT+7 (ICT)

SAN FRANCISCO, CALIFORNIA (BNO NEWS) -- PayPal on Tuesday announced that it teamed up with Verifone to develop new mobile technologies and business relationships that will change the way people will shop and pay.

"Mobile commerce is the most significant change in retailing in the last century, and shopping will never be the same," said Osama Bedier, PayPal's vice president of platform, mobile and new ventures. "PayPal is aggressively driving this change by redefining checkout on mobile devices for millions of consumers and businesses across the world."

PayPal made the announcement at the second annual Innovate 2010 conference. Through its current mobile apps for the iPhone, Android and Blackberry, the company expects more than $700 million in mobile payments to go through its system by the end of the current year.

Verifone and the PayPal developer ecosystem will offer merchants the ability to take credit card and make PayPal payments anywhere through its PAYWare mobile merchant application.

The new service will also let customers "bump to pay" using functionality from Bump Technologies built into the PayPal app and the PAYWare app. Verifone will be the first device manufacturer to collaborate with PayPal.

PayPal also presented its iPhone 3.0 application that will allow users to find businesses accepting PayPal wherever they happen to be. The new location-based feature will benefit merchants by attracting nearby customers to their stores by sending deals and promotions to customers' phones.

In addition, customers can pay for goods or services at local outlets with PayPal or a BlingTag from Bling Nation. The new service will be initially available as a beta version in the San Francisco Bay Area.

PayPal offers mobile applications for the iPhone, Android and Blackberry, as well as tools to help developers and merchants build mobile-commerce solutions. The company has been delivering mobile payments since 2005.

In 2009, $141 million in payments were transacted over PayPal's mobile applications. PayPal offers merchants an easy way for customers to checkout on websites via Mobile Express Checkout and mobile developers can use PayPal for in-app payments using PayPal's Mobile Payments Library.

-- © BNO News All rights reserved 2010-10-27