Sunday, October 31, 2010

PayPal Beats Google Checkout To The Local Payments Market But Will It Work? (TCTV)

In conjunction with the company's developer conference, PayPal announced a slew of news and product releases this week, including a new micropayments product and an apps platform for businesses. But tucked away in a release was another piece of news from PayPal that could be huge. PayPal just released a new version of its popular iPhone app that allows users to find businesses near their immediate location that accept PayPal as a form of payment. Launching in San Francisco initially, the feature encourages merchants to attract nearby customers to their stores by posting deals and promotions to the app as an incentive for customers to visit their businesses.

Customers can search by category and location, and find and select stores, services, or special offers. Users can pick up the goods or services in person, but pay the merchant using their PayPal app. Users can also use tags from Bling Nation, a startup that has partnered with PayPal to use the startup's mobile payment chips to deduct funds from a PayPal account.

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