PayPal has released a new version of their mobile app and is out to prove they’re the only wallet you need.
PayPal has made a major update to its Android and iOS app, adding a litany of new features in the hopes of turning it into a digital replacement for your physical wallet. Aside from making mobile payment to other PayPal users easier, they’ve also enhanced the digital wallet and added a “Shop” feature. Also new to the app is the ability to open a line of credit via PayPal’s “Bill Me Later,” plus digital offers/coupons (similar to the check-in special offers within the FourSquare and Facebook social check-in systems). They’ve also made it insanely easy to switch between methods of payment, be it PayPal, credit card, Bill Me Later, or your connected bank account.
The Shop feature helps users to find shops and eateries nearby that accept PayPal, thereby allowing them to open a tab, pay ahead of time, or pay their final total from their table with just a simple swipe on their phone’s screen. The order ahead feature is already live with restaurants that are part of the Eat24 network, with more cafes and restaurants to be added in the future.
By the time you read this, the update should already be available via the iOS App Store and Android’s Google Play Marketplace. Unfortunately, Windows Phone doesn’t get this one quite yet, though it will likely appear on that platform in the near future.
Check out PayPal’s tour of the new app below!
I haven’t gotten a chance to play with the enhanced app yet, but with support from enough retailers and eateries, this might become the de facto digital wallet. PayPal has the strength of a massive user base behind it, so adoption of their digital wallet is just as simple as owning a smart phone and setting up a PayPal account. These days, those are both nearly painless affairs. There’s competition, of course, but it looks like PayPal’s made the biggest move first.
How do you feel about trading your physical wallet for a smartphone app? Is our society ready to ditch paper money?
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