Slashdot Mirror

← Back to Stories (view on slashdot.org)

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."

23 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. Re:I hope that.. by JDeane · · Score: 3, Informative

      I agree, I have used PayPal exactly 1 time. I honestly wish I had not. At the end of the day it proved to be a $700+ lesson.

      The fraud protection is a fraud...

      I am sure that people use PayPal all day long and never have a problem, but if the party on the other end of the payment is not legit forget about your money, your better off with a credit card at least then you can dispute the charges and get some results.

    3. Re:I hope that.. by Anonymous Coward · · Score: 4, Informative

      same thing happened to me. their arbitrator sided with the seller who sold counterfeit and defective dvds to me, and whose account had been disabled by ebay. but they sided with the seller. burden of proof was on me to find an industry expert to certify that the dvds i received was actually counterfeit. they just didn't want to return my money because they knew they would not get it from the seller. that's paypal's fraud protection -- to themselves.

    4. Re:I hope that.. by iamhassi · · Score: 3, Interesting

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

      Not true anymore. Call Paypal at 1-888-221-1161 and see how long it takes to get a real-live person on the phone. I've never waited more than a minute. Wish I could say the same about my ISP, gas and electric. Even my credit union takes longer to answer.

      I've had over 4,000 transactions through Paypal in the past 24 months and only 3 issues, none of them so major that I would stop using them. Did have some issues 10 years ago but they're much better now, probably because they've changed how they operate after several lawsuits.

      --
      my karma will be here long after I'm gone
  2. Wallet != Money by Anonymous Coward · · Score: 5, Insightful

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

    1. Re:Wallet != Money by Demanufacture · · Score: 3, Informative

      I'm not sure if you were being sarcastic or not, but I can honestly say that I quite regularly use cars for non-transportation purposes. To me, a car is also a generator and a climate controlled environment. My line of work takes me to various locations which don't have any shelter or electricity, so the car becomes a mobile office for all intents and purposes.

      --
      --- "When you're strange"
    2. Re:Wallet != Money by iamhassi · · Score: 4, Funny

      So your mom walks around with large wads of cash in her purse? Where is she right now?

      --
      my karma will be here long after I'm gone
    3. Re:Wallet != Money by thegarbz · · Score: 5, Informative

      You haven't been to Europe have you? It's a place where debit and credit cards and not accepted at every corner store for purchasing a mars bar. Even here in Australia many stores won't let you use a payment system which requires commission such as a credit card without a minimum purchase, and even for large purchases will charge a surcharge for Amex or DinersClub. I typically carry around $100 in my wallet. My cousin in Europe carries around 600euro and this is considered normal.

  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 krotkruton · · Score: 4, Funny

      When they figure out a way to put a condom in a mobile phone, then the wallet will be obsolete.

  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.

    1. Re:Not until... by nospam007 · · Score: 5, Informative

      "Not until ...... they are certified as a bank,"

      Rejoice then.

      "Commencing July 2, 2007, as PayPal (Europe) S.à r.l. & Cie, S.C.A., PayPal moved its European operations from the UK to Luxembourg. As a Luxembourg entity, it is since regulated as a bank by the Commission de Surveillance du Secteur Financier (CSSF) and provides PayPal service throughout the European Union."

      http://en.wikipedia.org/wiki/PayPal#Bank_status

    2. Re:Not until... by BenoitRen · · Score: 5, Informative

      That's only in Europe. They still aren't a bank in the USA, as the article you linked points out.

  5. Not a chance by schnikies79 · · Score: 4, Insightful

    Not if PayPal is the middle-man.

    --
    Gone!
  6. Scott Thompson, President, PayPal by Spy+Handler · · Score: 3, Funny

    instead of wallets, he thinks everyone will be carrying man-purses like him by 2015

    1. Re:Scott Thompson, President, PayPal by Hylandr · · Score: 3, Funny

      We already do carry man-purses. We call them laptop cases.

      - Dan.

      --
      ~ People that think they are better than anyone else for any reason are the cause of all the strife in the world.
  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.
  10. Re:Paypal by Anonymous Coward · · Score: 5, Funny

    Please, oh PLEASE someone, ANYONE, give me an alternative to PayPal.

    Bitcoins? :-)

  11. The future we've all been waiting for! by Rizimar · · Score: 5, Funny

    It appears that you're trying to spend your money to buy a Snickers from this PayPal vending machine. Unfortunately, we've recently detected someone trying to hack into your account. Please prove that you're you by tying PayPal to your bank account, and then transfer $50 to us which we will refund in your PayPal account.

    It appears that you're trying to purchase a new t-shirt at the PayPal store. While you've tied your bank account to us, we've recently detected someone trying to hack into your account. Please prove that you're you by giving us your social security number which we won't use for anything other than your identification. We swear.

    It appears that you're not spending any money with your PayPal app on your phone today. We have detected that you may be deceased. Please prove that you're still alive by calling our toll-free 1-800 number from 9 to 5 PM Central. But only after transferring $50 from your bank account to us, which we'll refund in your PayPal account.