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PayPal readies NFC app for payments on Android devices

Considering all the activity of late, PayPal appears to be jumping into the deep end of the mobile payments space. The company is planning to launch a new application for Android devices later this summer that leverages near field communication technology to provide a peer-to-peer commerce offering.
The latest move comes on the heels of eBay Inc.’s (EBAY) $240 million acquisition of Zong last week. Two weeks prior to that, the eBay subsidiary revised its projected mobile revenue for this year to $3 billion.
“We’re seeing staggering growth in PayPal mobile payments, showing a real consumer desire for the way they shop and pay to catch up with the way we live,” Laura Chambers, senior director at PayPal Mobile, wrote in a blog post announcing the news. “But at PayPal, we’ve said all along that consumer behavior won’t change unless we’re able to offer an experience that’s truly better than what’s available today. We’ve been looking at NFC technology for a while and we saw a tremendous opportunity to combine the best of NFC and the best of PayPal.”
As demonstrated in the video below, the new Android widget can fulfill transactions by tapping two devices together.

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Matt Kapko
Matt Kapko
Former Feature writer for RCR Wireless NewsCurrently writing for CIOhttp://www.CIO.com/ Matt Kapko specializes in the convergence of social media, mobility, digital marketing and technology. As a senior writer at CIO.com, Matt covers social media and enterprise collaboration. Matt is a former editor and reporter for ClickZ, RCR Wireless News, paidContent and mocoNews, iMedia Connection, Bay City News Service, the Half Moon Bay Review, and several other Web and print publications. Matt lives in a nearly century-old craftsman in Long Beach, Calif. He enjoys traveling and hitting the road with his wife, going to shows, rooting for the 49ers, gardening and reading.