PayPal launches NFC trial for Swedish retailers
Jan 19, 2012
Payments giant PayPal announced their decision to launch a near field communication technology trial on the retail market. The company starts working with two Swedish retailers - Webhallen electronics store and ski gear shop Alpingaraget. Besides they will also be partnering with two Swedish technology firms - mobile security systems vendor Accumulate and POS terminals provider Point (recently acquired by Verifone). The new service is called PayPal Instore and uses an NFC sticker attached to the handset and a smartphone app.
Despite until now the company was known to be sceptical about the use of short-range wireless technology for retail payments, recently it was announced that PayPal and eBay's mobile strategy will be focusing on partnership with retailers.