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PayPal Predicts the End of the Wallet By 2015

Posted by Soulskill on from the spines-everywhere-straighten-in-relief dept.

BogenDorpher writes "As new technology emerges, one can safely assume that the days of carrying a wallet will soon end. In fact, PayPal believes that by the year 2015, no one will be carrying a wallet anymore. Instead, mobile payment methods will be taking over."

13 of 391 comments (clear)

  1. I hope that.. by Anonymous Coward · · Score: 4, Insightful

    The broker for those payments isn't PayPal, what a horrible company.

    1. Re:I hope that.. by ackthpt · · Score: 3, Insightful

      The broker for those payments isn't PayPal, what a horrible company.

      They are idiots, run by the same idiot philosophy which drives eBay - almost no customer service.

      --

      A feeling of having made the same mistake before: Deja Foobar
  2. Wallet != Money by Anonymous Coward · · Score: 5, Insightful

    Wallets aren't only used to carry money or credit cards.

  3. One less thing to carry by Mitchell314 · · Score: 5, Insightful

    Nice. It's a good thing I only use my wallet for cash, and not frivolous other stuff like a driver's license.

    --
    I read TFA and all I got was this lousy cookie
    1. Re:One less thing to carry by Anonymous Coward · · Score: 2, Insightful

      This will work oso well in rural areas with sketchy, if not non-existent, data service.

      And forget about any dead-battery issues. Or your phone just being bricked because you dropped it in the toilet at the last rest stop.

      Heavens! What if the cop wanted to physically take your license? What if read your messages? Or perused your address book? No potential problems there, nosiree!

      Sorry. A cell phone is just too darn fragile to rely on for important ID. It's also too fragile for sole use as a wallet. Do you really want your wallet to be something you take out of the safety of your pocket for every little whim? Do you really want your wallet subject to having a dead battery? Just think. You could be stranded with NO money, NO identification, and NO way to call for help. That's real smart.

      I might use my phone for financial transactions, but there is no way I'll rely on it for ID or be my sole financial instrument.

  4. Not until... by p0p0 · · Score: 3, Insightful

    ... they are certified as a bank, and are required to offer the same protections and liabilities as one. I've never had problems with PayPal, but I've heard horror stories of lost money and account freezes with no real hope on recovering what you lost.

  5. Funny about PayPal making a claim like that. by liquidweaver · · Score: 2, Insightful

    Every conversation I've had recently about Paypal was a.) Brought up by the person I was talking with, not me b.) revolved around how much they hated PayPal, and would rather write transfer/check/trade sheep anything but use them again.

    --
    mov ah, 4ch
    int 21h
    1. Re:Funny about PayPal making a claim like that. by DigiShaman · · Score: 2, Insightful

      Amen to that! Paypal can go straight to hell. I used them once, and got burned really badly. That whole ordeal still pisses me off to this day, and till the day that I die. Fuckers!

      --
      Life is not for the lazy.
  6. Not a chance by schnikies79 · · Score: 4, Insightful

    Not if PayPal is the middle-man.

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    Gone!
  7. no one CARES what paypal says by TheGratefulNet · · Score: 4, Insightful

    no one respects paypal, no one trusts them. they won't come clean and be a proper bank (and I use the term 'proper' very loosely).

    who the hell cares what some microblog says about what paypal thinks? news flash: greedy ceo's dream of taking over the world. film at 11.

    crap article to create panic (and page refreshes). this really should have been filtered, slashies.... please do a better job picking the greenlit articles next time.

    --

    --
    "It is now safe to switch off your computer."
  8. In other news... by BinarySolo · · Score: 3, Insightful

    Maker of a technology predicts said technology will become ubiquitous.

  9. Bull by BlueCoder · · Score: 4, Insightful

    Never Gonna Happen

    The illegal market depends on cash too much. If they took away cash people would start carrying around platinum, gold, silver and copper coins again as well as having funds deposited in foreign currency and the US government won't let that happen. China will go paperless long before the US does.

    1. Re:Bull by bmajik · · Score: 3, Insightful

      The size of the illegal market will also continue to increase, as more things will become illegal.

      But heck, I like using cash when I'm _not_ doing anything knowingly illegal. Sometimes you just want to fork over some money and be anonymous. No, I don't want you to add this item to my profile. No, I don't want to sign anything. No, I don't want to transfer enough of my identity to you that you can buy things "on my behalf" after your shfit ends. No, you can't have my phone number. No, you can't have my zip code. No, I don't have email. Give me my fucking $item and stop asking questions.

      --
      My opinions are my own, and do not necessarily represent those of my employer.