Items tagged with PayPal

Mobile payments may be the wave of the future, but NFC may still have some maturing to do. Meanwhile, physical card reading products like Square seem to be hitting the sweet spot in the here and now, and PayPal's not going to let the opportunity pass it by. PayPal's version of the Square reader, dubbed Here, is now on sale on AT&T stores. It's the first major foray into retail locations for PayPal Here, and it should definitely expose the option to a new crowd of potential users. Much like Square, Here enables users to plug a card reading dongle into a headphone jack, swipe a credit card and complete a transaction right on one's phone. It's a simple way to accept credit card payments for... Read more...
Paying for things with a traditional credit card may feel normal today, but what's it going to feel like in 20 years? 30? Will those thin slips of plastic still be around? Mobile payments haven't exactly skyrocketed to mainstream success, particularly in the United States, but it seems that the trends are changing. With Google Wallet, Isis, Square, NFC and all sorts of other technologies in the mobile payment space finally getting their wings, we could be in for a sea-change that will completely disrupt how we pay for goods. Following news of Starbucks and Square teaming up, the Electronic Transactions Association, the trade association of the global electronic payments industry, today launched... Read more...
Mobile payments -- or, at least the idea of mobile payments -- aren't new. In fact, America is one of the last nations to get onboard, despite having millions of smartphone owners. Square was first to jump on this bandwagon three or so years ago, providing smartphone owners with a free, small dongle that enabled a credit card swipe to be registered into a phone or iPad and processed; it made small business easy again. PayPal has been handling online payments, and obviously, it feels that there is room for one more player in the mobile payment industry. Thus, the company launched Here. PayPal Here is a new triangular dongle that effectively does the same thing as Square, but with slightly fewer... Read more...
PayPal today issued a public apology after it came to light that a scrooge in the payment service's accounting department froze an account belonging to an organization collecting donations in order to hand out toys to underprivileged kids. The site's 'mistake' was using the "Donate" button, which a PayPal rep informed them was only for nonprofit organizations. Regretsy.com posted a transcript on the conversation between it and PayPal, and it underscores the frustration of dealing with customer service, as well as the opposite risk of pissing off the wrong person. Regretsy took its beef online and posted all the gory details on its blog, including this tidbit: PayPal: Only a nonprofit can use... Read more...
There's one thing that just can't be overstated enough in this business: competition is great. Mobile payments have been spinning around for years, mostly in places outside of North America, but recent developments have brought all sorts of interest to that region. PayPal, Google and legions of carriers are all taking notice, realizing that the future of payments is probably something other than a printed note or a credit card. Isis is one initiative that has been receiving on-again/off-again support from companies and carriers alike, and a new Bloomberg Businessweek report suggests that Verizon Wireless, AT&T and T-Mobile USA have a plan that will see $100 million invested into their joint... Read more...
On the same day that Google unveiled its mobile payment service, Google Wallet, it was sued by PayPal. The suit claims trade secret misappropriation related to (what else) mobile payment systems. Reportedly, the timing of the lawsuit was coincidental, in terms of Google's announcement. The Google executives targeted in the lawsuit were not: the suit named Osama Bedier and Stephanie Tilenius, who directly oversee Google Wallet. In addition, the pair led the unveiling of the payments system on Thursday. Bedier is Google’s VP of payments and Tilenius is VP of e-commerce. They both formerly worked for PayPal, with Bedier working for nine years at PayPal, most recently serving as vice president... Read more...
USAA and Chase already got involved in cashing checks via mobile scanning, but when PayPal gets involved, that's huge for the industry. PayPal's iPhone app has recently been updated, and the new version allows users to scan their checks in order to have the funds deposited immediately in their PayPal account. The catch, of course, is that the money is deposited in the PayPal account and not directly into your checking account. You'll still need to login and request a withdrawal in order to actually have the funds transferred to your bank account. The service works like this: you take a photo of the front and back of your check, and then they show up in your PayPal account. PayPal also recommends... Read more...
PayPal started the credit card revolution, and Craigslist empowered regular people with the ability to clean out the garages without forking over fees to eBay. Now, the next movement is about to begin, with Twitter co-founder Jack Dorsey beginning to ship out hundreds of free credit card dongles that plug into the headphone jack of an iPhone, Android phone or iPad. The system is called Square, and the free app is available to download now for iPhone OS and Android. Basically, you fire up the app, attach the dongle, punch in the amount (say, whatever you agreed on for selling a couch on Craigslist), and then have the buyer swipe their credit card through the adapter. No personal information is... Read more...
PayPal revealed a new Send Money application for the iPhone and iPod touch. With version 2.0, you'll get secure mobile access to your PayPal account as well as Bump money transfers, Split Check, and Collect Money features. With Bump, you simply put two iPhones together to transfer money from one owner's account to the other's. The Split Check feature makes it easy to divide and split the cost of dinner with a friend. If you're trying to collect money from multiple people for a joint gift, the Collect Money feature can help. International transactions are also possible with the new app. PayPal Launches New Send Money App for iPhone Version 2.0 Brings Fast and Secure Mobile Access to Money SAN... Read more...
eBay on Tuesday announced the sale of 65% of its Skype Internet calling division to a group of private investors. The price: $1.9 billion. The private investors included Silver Lake and a new VC firm run by the Netscape co-founder Marc Andreessen, Andreessen Horowitz, as well as London-based Index Ventures and the Canada Pension Plan. The deal values Skype at $2.75 billion, according to eBay, which had bought the phone company in 2005 for about $3.1 billion. eBay has had trouble integrating Skype with its core businesses, PayPal and its auction site, since it acquired Skype in 2005. eBay Shareholders appear happy, with the stock up about 2% in early trading. Industry pundits are not so happy,... Read more...
Despite dire predictions for this year's holiday season, Black Friday results for online retailers showed a 1% increase from last year's Black Friday sales, to $534 million, according to a report by market research firm comScore. All is not rosy in the stats, however; comScore noted that for the holiday season to date e-commerce was down 4% from last year. Overall, retailers showed $10.6 billion in sales, up 3%, according to a preliminary report by ShopperTrak. The question is: how much money are they making off these sales. Brick-and-mortar stores are attracting customers through the use of bargain prices, and that's possibly what's attracting online buyers as well. According to a statement... Read more...
Using an old browser?  If you're planning to use PayPal, you might consider updating.PayPal, one of the brands most spoofed in phishing attacks, is working on a plan to block its users from making transactions from Web browsers that don't provide anti-phishing protection.The eBay-owned company, which runs a Web-based payment system that allows the transfer of funds between bank accounts and credit cards, said browsers that do not have support for blocking identity theft-related Web sites or for EV SSL (Extended Validation Secure Sockets Layer) certificates are considered "unsafe" for financial transactions.Honestly, although some may consider PayPal's "threat" draconian, it's in your own... Read more...
PayPal's CIO, Michael Barrett, is advising the Safari users to get another browser to access their accounts if they're worried about online fraud:"Apple, unfortunately, is lagging behind what they need to do, to protect their customers," Barrett said in an interview. "Our recommendation at this point, to our customers, is use Internet Explorer 7 or 8 when it comes out, or Firefox 2 or Firefox 3, or indeed Opera."There are a lot of new technologies coming out, or already here in some browsers, to prevent phishing.  We'll await Apple's official response, but we're wouldn't be surprised if they announced that future versions of Safari will incorporate modern anti-phishing technologies.... Read more...
Well, not exactly. It keeps your information on its central, very secure servers. But by using a new software utility for shopping at websites that don't yet accept PayPal payments, PayPal allows you to submit a number for each transaction that is recognized as a valid MasterCard number. They call it PayPal Secure Card."From a merchant's perspective this looks like any other MasterCard transaction," said Chris George, director of financial products for PayPal. "And it's just another PayPal purchase to the customer."Secure Card has been tested by 3 million PayPal customers in the past year. The plug-in will be available to U.S. customers on Tuesday, with international customers to follow.When... Read more...
Phishing scams are all the rage these days. And as the scammers get more sophisticated, it's not just noobs who get their info and their money stolen. E*Bay's subsidiary PayPal is preparing to offer a key fob for its users to make stealing your info only half the battle. PayPal's use of key fobs represents what is called two-factor authentication, a login system in which an additional form of device-oriented verification is used in addition to a conventional password. Two-factor authentication is advantageous because it prevents a user's account from being stolen when one of the two authentication forms is compromised.... Read more...
Online payment company PayPal has unveiled plans to roll-out a new service that will allow mobile phone users to make purchases and money transfers using a simple text message. The move by PayPal, which is part of online auction giant eBay, marks a big step in bridging the worlds of e-commerce and the physical world of bricks and mortar stores by giving consumers a pay-as-you-go option via mobile phones.... Read more...
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