Mobile payments due for more disruption in 2013, says PayPal

Mobile Payments Future

Mobile Payments FutureThe head of the company, David Marcus, posted on the company blog to say that the area would continue with challenges.

The president of PayPal, David Marcus, used the company’s blog in order to make a post with some of his predictions about what is to come next year, including the future of mobile payments.

The posting included forecasts both about offline and online forms of paying for products and services.

According to Marcus’s post, “At PayPal we have an end-to-end view of the industry that others don’t and I would argue that payments at point-of-sale alone is not a problem that needs to be solved.” He went on to write that “The real opportunity for technology is to solve deep customer needs in new ways. That’s what PayPal did 14 years ago when it allowed all of us to purchase items quickly and easily online.”

One major mobile payments issue Marcus predicts is a slow decline of NFC technology.

The slow shrinking of NFC technology use as a part of mobile payments came as a surprise to some, and a statement of the obvious for others. That said, on a more positive note, Marcus saw that digital wallets would increase in their popularity, due to their ability to bring together coupons loyalty, and credit and debit, all in a single convenient place.

The PayPal president also felt that mobile payments through point of sale terminals on the move would become increasingly common. This will be particularly true as the cash-wrap traditional trend starts to fade away.

Beyond mobile payments, the company head wrote that he felt that context aware shopping and location based marketing would be important contributors to the smartphone and tablet commerce space next year. Consumers will increasingly be seeking out the right item for the ideal price.

What he did feel would be true next year, though is that “2013 will be the year that we will truly see disruption in the shopping and payments space.” Mobile payments and commerce as a whole will continue this type of experience at least until the end of next year.

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