Leave your wallet at home. It’s the era of paying with smartphones.
It’s a model that was popularized when Google announced Google Wallet, a virtual wallet that will store your credit-card information, allowing you to pay at the register with your phone.
At the MobileBeat tech conference, PayPal announced Wednesday it too will be joining the mobile-payments sphere, Wired’s Gadget Lab reported. The company introduced a widget that allows two phones to transfer money via their PayPal accounts. Unlike Google Wallet, the PayPal widget only allows person-to-person transactions, not point-of-sale transactions at the register.
“PayPal used to be an online company, but we see the majority of transactions are being substituted for offline transactions,” said Laura Chambers, senior director of PayPal’s mobile division, according to Wired.
For now, there’s only one phone that is near-field-communications capable, a technology PayPal’s widget uses: the Samsung Nexus S.