9 Stops on PayPal's Long Mobile-Payments Journey
August 22, 2012 2:32 PM
(Image: Bloomberg News)
PayPal Mobile
In 2006, PayPal launched PayPal mobile , a pre-iPhone mobile payment system that relied on text messages instead of apps. Though PayPal eventually changed course, its current point of sale system mimics the old one in a very important way: it does not require any special handsets or apps. (Image: ThinkStock)
PayPal App
Upon Apple's 2008 launch of its app store on the iPhone 3G, PayPal created its own app , leading to a significant boost in payment volume from mobile devices. (Image: ShutterStock )
Bump
In 2010, PayPal added 'Bump' software to allow users to move money by tapping phones. This may seem like a step toward using near-field communication chips for payments, but it was short-lived. PayPal removed Bump in an early 2012 update to its iPhone app. (Image: ShutterStock )
Bling Nation
One of PayPal's earlier attempts at point of sale payments involved a partnership with the mobile payment company Bling Nation . This presumably hit a wall when Bling Nation shut down the following year.
Home Depot
PayPal's first public partner for its new point of sale system was Home Depot , which let consumers test PayPal's system for everyday purchases ahead of its nationwide rollout. (Image: Bloomberg News)
Everyone's Invited
PayPal's next major merchant announcement was a big one: in May, it revealed 15 merchant partners in one day , including Barnes & Noble, JC Penney, Office Depot and Toys "R" Us. (Image: ThinkStock)
Here
This March, PayPal launched Here , a separate mobile payments initiative from its point of sale system. Here allows users to accept card payments through a smartphone's camera or an add-on card reader. (Image: Bloomberg News)
McPayPal
After its flood of merchant announcements, PayPal continued to woo new partners, including McDonald's , which is testing PayPal's system in France. (Image: ShutterStock )
Discover
To further boost point of sale acceptance, PayPal partnered with Discover . Next year, any merchant that accepts Discover cards will also be able to accept PayPal. (Image: Bloomberg News)
