PayPal’s President Predictions For 2013: NFC Failure, Mobile Registers And More

Posted on Dec 18 2012 - 10:01am by Editorial Staff



Since its time when we are moving towards 2013, it is the time we have to work out on things which tell us what is coming our way. The President of PayPal, David Marcus offered his thoughts sharing his believe that as industry has seen momentum in 2012, it will continue as its way on urge on how people exchange and spend their money. The four main things on which Marcus look a site at are: failure of NFC, merging of payments, loyalty and coupon businesses, the rise of the mobile cash register and experience beyond check-in.

Here is what Marcus has to say about it for each of the points:

Failure of NFC:

The NFC payments debate will slowly die in 2013. I don’t think so – it’s not solving a real consumer problem and its not providing additional value to encourage me (or anyone else for that matter) to change my behavior.

The payments, loyalty and coupons businesses will merge

The digital wallet must offer more than another way to pay. In 2013 payments will finally merge with loyalty and rewards. These three separate businesses will converge to make it easy for consumers and merchants to automatically leverage appropriate coupons and offers.

The cash register will go mobile

As we move to a world where even the transactions in a shop are transmitted on the back end via the Internet, sales associates will be free to roam the stores and help their customers check out and pay from the aisle or even the changing room… and if they don’t have the right size or color in stock, they’ll order it for you on the spot to be delivered direct to your home.

The rise of new experiences beyond check in

To me, new location-based experiences will revolutionize more than just shopping. I think that location aware, and context-relevant shopping and payments experiences will be one of those technologies that changes much much more for the consumer than even the hard working technologists in Silicon Valley can imagine today.

About the Author

Editorial Staff at I2Mag is a team of subject experts.