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 |  Subject: PayPal: New Book By Thomas Horn & Terry Cook Is Correct -- Cash Will Be Obsolete By The Year 2017  Wed Dec 18, 2013 7:17 am | |
| PayPal: New Book By Thomas Horn & Terry Cook Is Correct -- Cash Will Be Obsolete By The Year 2017
Purses, wallets and cash will become redundant within three years, according to the electronic payment firm PayPal. It says it will be possible to pay for everyday purchases via biometrics using mobile phone apps and cards with the result people will no longer need to carry real money. The claims came as the firm, which is owned by eBay, unveiled a new roll-out of its mobile phone-based smart payment system. Shoppers can download a PayPal app to their smartphone which can be pared with the payment system of participating retailers, from cafes and bakers to market stalls. This means shoppers can authorize payments on their phone, with the money immediately transferred to the trader, just as they currently do with internet purchases. Narik Patel, PayPal’s director of mobile merchant services, said: ‘This is another step on the journey towards a wallet-less high street, where customers will be able to leave their wallet or purse at home and pay using their phone or tablet. We predict that by 2016 this will become a reality.’ |
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