PayPal the leading provider of digital money transactions on the Internet is looking to broaden its market by looking to take on the credit cards merchants in stores.
In an interview with the Wall Street Journal Paypal president Scott Thompson called the initiative a “top priority” , “The tide is coming in and we will take advantage of that,”
The PayPal initiative and mobile phone manufactures eager to enter the world of point-of-sale payment systems is definitely going to cause a few problems for the big credit card companies very soon.
With its 220 million active users PayPal is now looking to remove cards and the middle man all together and create a payment gateway that powers the point-of-sale itself. PayPal is expected to make more information available in its annual conference in October.
Via TG Daily