PayPal announces new NFC peer-to-peer transactions (Video)

Most people with NFC-enabled devices have not put it to use, but that will definitely change in the near future. Google wallet is set to be the first major NFC player in the U.S. and is even planning to offer NFC stickers you can slap on your device if your phone doesn’t feature such technology. Google has jumped ahead of the game in this area, but PayPal is coming up with some NFC solutions as well.

PayPal Mobile has just announced that their new peer-to-peer payment solutions will be released sometime during late summer. Paypal will basically allow users to make transactions with each other by using the Android PayPal app by simply tapping each their devices together. There will be a widget available for easy access, and if you look at the video below, you’ll see how simple it is to choose the transaction amount, tap and accept.
If you’re one of the proud owners of an NFC-enabled device and are dying to use that chip, the time is coming! Of course, it will be a bit hard to find other Nexus S (or any other NFC-enabled device) owners, but this is only the beginning of the NFC era. Soon enough, we might all be making purchases and transactions by tapping our phones!
What do you guys say? Are you excited for PayPal’s new NFC payment solutions? Will you be using it? Any Nexus S owners out there have other friends with NFC phones? Check out PayPal’s demonstration in the video below and let us know what you think. Yes, the video may not seem exciting. And the music is a little weird. It may make you feel they’re making a top-secret $10 transaction in a suspense thriller. But it does show the process for their new NFC services, and that’s mostly what we care about.

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