Money transactions are being simplified these days thanks to guys who think out of the box and make it possible trough technology. They do try to ease our lives much more.
This digital age seems to be the dawn for the use near field communication (NFC) and with it; PayPal has taken advantage of it. In the recent 2011 MobileBeat Conference, PayPal launched its first Android NFC initiative, the phone-to-phone transaction. If you’re wondering how it works, well we’ll detail it for you. The transaction starts when one user/person begins a money send or money request through a homescreen widget. The user who sends and the recipient then hold their NFC enabled phones together until the units vibrate. The recipient then keys in their PIN and voila, money has been transferred. It is as simple as that!
The only downside to this is that NFC is limited to Android as of the moment. And to be more specific, it is only available in the Nexus S phone. Bummer isn’t it? It is good to know that there are companies who have promised to include NFC support in their phones in the coming months.
These kinds of transactions would go a long way once NFC support is instituted in the different smartphones out in the market today. Before we do forget, the PayPal widget won’t be available until late this summer.
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Tags: paypal, Phone-To-Phone Money Transaction android, Phone-To-Phone Money Transaction features, Phone-To-Phone Money Transaction nexus s, Phone-To-Phone Money Transaction nfc
