PayPal Shows Off Mobile Tap-to-Pay

PayPal showed off its new mobile tap-to-pay widget today at the MobileBeat Conference in San Francisco. Hmmm, considering this is PayPal, I wonder if there will be features like "tap-tap-no-charge-back" and the ever so handy "accidental-tap-freezes-your-account-for-180 days."

PayPal's senior director of mobile operations, Laura Chambers, demonstrated the tap-and-pay move at the MobileBeat conference in San Francisco by placing together two Nexus S smartphones (see video below). The phones are equipped with a near-field communications, or NFC chip, which allows for a quick transmission of information--in this case data about the amount of money transferred. The transfer happens through a special PayPal widget.

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