According to the source, the NFC-based PayPal mobile application is expected to become available by the end of summer 2011 and targets Samsung Electronics Nexus S phones, based on Google’s Android operating system.
Moreover, Reuters reports that the payments work through a PayPal widget that allows users to request or send money. Users need to enter the transaction information and then tap their phone up against another phone also equipped with the same app. After the phones buzz together, the recipient can decide to send or receive money by entering a PIN number.
eBay currently counts 8 million users conducting transactions via mobile devices. PayPal currently represents 39 percent of eBay’s total revenue and has reached.
In recent news , eBay has agreed to acquire mobile payment services provider Zong, for total consideration of approximately USD 240 million in cash.
The number of mobile phone users making payments for digital goods is expected to reach 2.5 billion worldwide by 2015. According to the study carried out by market research firm Juniper, the number of consumers to carry out payments via their mobile phones is expected to increase 40 percent globally, up from 1.8 billion forecast for 2011 to 2.5 billion by 2015.
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