PayPal has just released a hype video depicting what the future of shopping might look like with the introduction of PayPal’s next generation payment platforms, as they aim to re-imagine money.
It includes everything from person to person “bump” payments and transfers, location based offers that instantly transfer real dollars to your PayPal account for use in a certain store, barcode scanning with price referencing, QR code check-out, instant scan to pay from barcodes to skip the cash register line and a full post-checkout money management platform that let’s you choose how to pay, after you’ve actually paid for it.
PayPal’s CEO said it’s about to start rolling this platform out over the next few months, but I feel at least half of it is still futuristic at this point in time, like the in-car payment system. What do you guys think? Is this the future of payment transactions? Will this change the way we shop?
[...] Pay Pal and online shopping [...]
This looks dangerous, hide your wallets men! #NotStereotyping
This video makes it all look nice and easy, but the reality of these processes is a lot different. Web enables eftpos terminals for a start? These are not going to exist in many places, NFC chips for bump transactions are at least a couple of years from mainstream penetration and who really goes walking around with their bar code scanner apps ready to roll. The process of launching the app, framing a barcode and then visiting the info is not a realistic purchasing behaviour. When people go to the supermarket, most people purchase on impulse and decisions are made in seconds, this interruptive process of scanning barcodes to compare prices and get information is not realistic at all.
Nice ideas.
I don’t see myself scanning items as I go around a supermarket – life might be too short for that. But would do to compare big ticket items with other shops.
Visa Wave is already live and pretty convenient with no PIN/signature needed for up to $100.
PayPal problem – what about air miles that I get from Amex/Visa?
Keep up the good work.
J
The quality of this hype reel reminds me of the quality of their user experience. Cant wait for new entrants to shake up this space.
This video really lacks in explaining exactly what the advances are. Yes, you can see the activity being displayed, but I’m afraid that many people are not far enough along the path of change to comprehend the future that PayPal is trying to convey. So, regardless of whether this is good technology, the messaging is lacking.
[...] via Digital Buzz Blog by Aden [...]
The portrayed future is already here. OK, not necessarily fully stream-lined as one happy-smiley customer journey, but each component realized. The only concept not yet realized (to my knowledge) is the ordering of the coffee from the in-car solution, but I guess that’s only a matter of time too.
In a longer video, I would have added price comparison while in-store, donation to your favourite charity +++.