PayPal recently made a surprised announcement that the company may drop its support of NFC as a way of mobile payment.
According to David Marcus, VP of mobile at PayPal, "By the time NFC catches up, we'll be in a world that will move away from the point-of-sales terminal."
PayPal expect user to link your phone number with pin protected PayPal account. At the time of payment, user just chooses PayPal, then mobile number, and then pin number. After the payment, a receipt will be sent the mobile phone.
The idea behind this is that user don't have to pull out the wallet or mobile phone.
In general, this is an interesting idea. However, my issue with this idea is the lack of security. Without the phone or wallet presence, it can be easily stoled and used in many places within a short time. I guess we have heard enough miserable stories about identify theft. Compared with NFC, I would go with NFC.
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