Near Field Communication (NFC) technology may have been incorporated into many smartphones these days such as the Samsung Nexus S and Sony Ericsson Xperia Arc, but it has not taken off due to the varying competing standardsand existing technologies,as well asthe lack ofusagesuch ascontactless mobile payments. However, online payment gateway Paypal looks to be taking a step to push the mobile payment with their recent announcement of NFC Android phone-to-phone payment. According to sources, the transaction works through aPayPal widget which users can use to send or request money. The user needs to enter the transaction details and tap his or her phone against another phone that also has the same app installed. The phones will buzz together and recipient can then choose to accept the transaction by keying in the PIN number.
The PayPal new mobile payment serviceis currently slated to workonlyin the U.S. and with the Samsung Nexus S from Sprint and T-Mobile. However, the company said that it willalso expand to other Android phoneswith NFC functionality in the near future.
Source: Reuters
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