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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."

14 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 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.

  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 iamhassi · · Score: 4, Funny

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

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      my karma will be here long after I'm gone
    2. 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.

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    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 a chance by schnikies79 · · Score: 4, Insightful

    Not if PayPal is the middle-man.

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    Gone!
  5. 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.

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    "It is now safe to switch off your computer."
  6. 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

  7. 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.

  8. Re:Paypal by Anonymous Coward · · Score: 5, Funny

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

    Bitcoins? :-)

  9. 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.

  10. 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.