PayPal: People won't need wallets in 2015

In a blog post by the PayPal president in which he announced that the company had 100 million active accounts, he also wrote that the company believes the public will no longer have to carry a wallet by 2015. Apparently, PayPal predicts digital currency will be accepted everywhere in the United States, although the Paypal president made no mention of the rest of the world.

PayPal are so confident that they've asked five employees in the San Francisco area to use only digital currency for all of their purchases that they might make. Presumably, the payments would be done through the PayPal service but in reality there are variances in the technology that's used and the devices that allow shops to offer digital payments are yet to be widespread. If PayPal are right in their hopes that would mean consumers would be able to use their digital wallet in a variety of places from a small independent shop to a major supermarket.

Some may believe PayPal's optimism is misplaced, and that may be the case, but we have previously seen news stories of how mobile phones are being used to make payments. Technology has previously allowed the use of phones to simply touch a device at the store and the phone application would do the rest. More recently, we've seen Google launch its own platform, predictably named Google Wallet, that works with MasterCard accounts.

Image Source: visualphotos.com

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53 Comments

Commenting is disabled on this article.

In other news, hackers won't need your wallets to have access to your money in 2015. I love the smell money emits and the feel. Having to carry that form of weight gives it purpose.

ebay/paypal is officially a bunch of incompetent and FRAUDULENT ****ing idiots!

PayPal is not a “bank”, and is not prudentially regulated as are the banks. PayPal has been forced down the throats of eBay merchants, much to their distaste. Without eBay's mandating the use of PayPal it would be nothing and, regardless, it still is the most unprofessional, unscrupulous, incompetent, wire fraud-facilitating payments processor on the planet.

I have never seen so much rubbish written in the comments on this site. I have a small software company and only use PayPal. Over the past 5 years I have had thousands of dealings with PayPal and never had any problems in all that time either withdrawing money, transferring money or refunding payments, and not one of my customers has ever complained about problems either.

Remember that unless you can prove your comments above, you may well be holding yourself open to libel.

cypherboy said,
I have never seen so much rubbish written in the comments on this site. I have a small software company and only use PayPal. Over the past 5 years I have had thousands of dealings with PayPal and never had any problems in all that time either withdrawing money, transferring money or refunding payments, and not one of my customers has ever complained about problems either.

Remember that unless you can prove your comments above, you may well be holding yourself open to libel.

The same can be said about your comment. How do we know that you are not random employee 117 trying to discredit theme make PayPal look good.

See it works both ways.

Btw I have an account with $100 frozen. Short of giving you my credentials you will have to choose to believe or not.

cypherboy said,
I have never seen so much rubbish written in the comments on this site. I have a small software company and only use PayPal. Over the past 5 years I have had thousands of dealings with PayPal and never had any problems in all that time either withdrawing money, transferring money or refunding payments, and not one of my customers has ever complained about problems either.

Remember that unless you can prove your comments above, you may well be holding yourself open to libel.

Really? You will get ****ed up by paypal very soon 100%

Paypal is the most unprofessional, unscrupulous, incompetent, fraudulent payments processor on the planet.

…and all the complaints made on the websites listed blow confirm it!

http://www.paypalscam.com/
http://www.paypalsucks.com/
http://www.screw-paypal.com/
http://paypalsucks.org/
http://www.paypalsucks.net/
http://www.paypalwarning.com/
http://www.aboutpaypal.org/


F U C K YOU PAYPAL!

Einlander said,

The same can be said about your comment. How do we know that you are not random employee 117 trying to discredit theme make PayPal look good.

See it works both ways.

Btw I have an account with $100 frozen. Short of giving you my credentials you will have to choose to believe or not.


I have an account of 530$ frozen, and 2 other accounts with other amounts frozen, and I know 5-10 people who had their accounts frozen, in 2 cases atleast that I know personally with amounts > 5000 euros.

As nice as this would be, governments are too scared of change to remove something that they see as being so fundamental.

"...although the Paypal president made no mention of the rest of the world."

Sure let's ignore the other 5+ Billion on the planet.

Sadelwo said,
"...although the Paypal president made no mention of the rest of the world."

Sure let's ignore the other 5+ Billion on the planet.

There are 2 billion people in the USA?

You gotta have something to put your condoms in!! If not a wallet...guess that would be an opening for someone to come up with a "condom carrying case". lol.

texasghost said,
You gotta have something to put your condoms in!! If not a wallet...guess that would be an opening for someone to come up with a "condom carrying case". lol.

Use an e-condom.

guitmz said,
die paypal, burn in hell
Why would you say that? Have you realised how much easier it has made online transactions with ebay and amazon?

drazgoosh said,
Why would you say that? Have you realised how much easier it has made online transactions with ebay and amazon?

and how much impossible it made for transaction with anything else ? how many small resellers lost their accounts and got them frozen for the very most trivial reasons ? and that paypal is not available at all or partially in most of the world besides the US and Europe ?
There are 3489593485 cases like this:
Buyer: ok I like it, I will pay you the amount you want.
Small Seller: Great, how you want to pay ?
Buyer: Paypal
Seller: ok.
And after the customer gets his product, just reports fraud case to paypal, and paypal immediately returns him the money and freezes/locks the seller account, with impossible to conditions to return it back, and totally impossible to "return!" back the money to the seller.

How will I be able to tip a waiter at a restaurant when I wouldn't have a wallet with me in 2015?

FMH said,
How will I be able to tip a waiter at a restaurant when I wouldn't have a wallet with me in 2015?

Really? You can't add a tip when paying by card? Pretty sure whatever electronic payment is "here in 2015" will allow a tip be added.

Not to mention Paypal, while convenient, isn't really used all that much in Europe afaik, because you know, our banking systems generally work so there isn't that much need for a middle man.

LaXu said,
Not to mention Paypal, while convenient, isn't really used all that much in Europe afaik, because you know, our banking systems generally work so there isn't that much need for a middle man.

HAHAHAHAHA

seebaran said,
That would mean in 4.5 years, everyone would need a cellular device to show proof of i.d. Lame.

Sorry officer, my phone's out of battery.

Sorry officer, someone hacked my phone to come up as a person with arrest warrants, I promise it's not me.

*new text message* (Officer reads it) "I'm going to have to search your trunk...." "DAMNIT STEVE I TOLD YOU NOT TO TXT ME ABOUT YOUR WEED!"

*incoming call, Bad Boys ringtone* "Bad Boys, bad boys, whatcha gonna do..." Police officer: "I know what I'm gonna do. Get your hands on the roof of the car, there's a warrant out for you!"

this guy is smoking crack. what an absurd statement to make.
I'll beat him though.. In 2020, people will no longer wear or need shoes, as jetpacks will allow us to hover and fly everywhere.

I have yet to see people play Mahjong with Visa cards (or anything besides chips and money)...

Plus, all those tax-evading restaurants and stores probably still want you to carry cash

AlanW said,

Absolutely! where else do you put your condoms?

Yeah PayPal doesn't realize wallets are the key to getting laid. When you're paying for dinner, you flash open your wallet full of $100's, showing the girl you're loaded. Then later in the night, you've got your party wrapper in there.

Right... Try going to latin america or africa yeah NFC will be the standard! Heck, in some places here, they still use those weird pressure machines that you swipe your credit card on top of, instead of the electronic POS for credit cards.

guitmz said,
I hate you PayPal ur motherf*cker miserable piece of sh*t! My dream is to drop a bomb there. No more.

+100000000000 I HATE PAYPAL THE ***** STEALERS.Their ignorant monopolistic superpower policies of freezing accounts and reversing transactions and making it impossible for any non-US (and maybe non-EU) citizen to make trasnactions normally are the reason for the loss of opprtunities of thousands of really good people around the world, and even the creation of systems like Bitcoin.

guitmz said,
I hate you PayPal ur motherf*cker miserable piece of sh*t! My dream is to drop a bomb there. No more.

+1000000000000000000000000000000000000000000000000000000


Paypal is the most unprofessional, unscrupulous, incompetent, fraudulent payments processor on the planet.

F U C K YOU PAYPAL! ! !

It may be true, but definitely not by Paypal. They would charge you to use their services most likely. And also, what kind of mobile currency are they talking about? Certainly not NFC since their mobile app doesn't support that. So what, you are supposed to get to the cash and say "wait a sec let me send you some money through Paypal" and then wait for them to get the confirmation? That seems pretty bogus.

No thanks. After you limited my account because other family members also had an account, I don't think I will be using your crappy service ever again.

Paypal you suck.

Tech Star said,
No thanks. After you limited my account because other family members also had an account, I don't think I will be using your crappy service ever again.

Paypal you suck.


This is so fuking true , Happened to me as well , the fuking ********s limited my account and took most of my capital in there.

Paypal you suck.[/quote]

nocture said,
Probably true, but mine definitely won't be replaced by you paypal

No crap, I still cant close a Paypal account I've had since the ninties and rarely used. Then I switched banks and totally forgot about my old baking info other than the fact that it was at BoA and I cannot for the life of me get Paypal to give me access to the account to update it with my new banking info. Obviously, I should have changed the banking info when I switched banks but I so rarely used Paypal that it never occured to me. So no, no chance i'll be using Paypal to make purchases in the future.

Fubar said,
Paypal are just talking crap....
They'd absolutely love it if they got 7% of everything, for accepting transactions. I hope to never give any company that free chunk out of my money in the future.

It's different from, say, a credit card because those are micro-loans (and they charge none if you pay it off monthly). Paypal is taking a significant chunk of money just for doing the transaction with them.

Paypal, and eBay, are terrible businesses that simply act as leeches. eBay was certainly an innovative idea when it came out, but with the number of scams on the site, it is just ridiculous and borderline useless. Not to mention they double dip on the percentage they take by taking a cut on eBay's side for helping to make the sale (a fair cut, but not a fair percentage in my opinion) and then they also take a cut when the money arrives at Paypal.

It's companies like them (eBay owns Paypal) are the reason that internet commerce can frequently suck. Good thing there's Amazon.