PayPal has announced that it now has more than 100 million active accounts. That means 100 million people around the world trust the company with their digital wallets.

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This is an absurd assumption. A wallet, typically, is not just used for carrying credit cards or cash. Identification, business cards, voter registration, pictures ect; are all things that the common person needs on a day to day basis. One could make the argument that debit/credit cards as well as cash, will almost disappear by then, but not the physical wallet.

The only way this happens is if there will be some sort of digital personal identification by then, which is highly unlikely.

these are the people that are not regulated by the governments banking laws yet, as such they seize accounts arbitrarily with no recourse, they ignore their own 'proof of sale/buy' polices when proving sale or purchase and worst of all they hire staff from temp agencies with no bond or background checks of staff. The fact that they are now the only option for sales on Ebay ( in the US) is the only thing keeping them afloat, I can see Google new E commerce system killing them, provided they choose to have a shred of ethics and morals. I singed off of paypal years back when they would not accept a postal signed receipt of delivery as proof OF said delivery. Paypal is a perfect example of an internet company that exists to take advantage of people. Every else in the world pretty much uses E-cheques and EMT now.

I don't like paypal and I avoid it like the plague. So many problems

Guest 2, they didn't say PayPal would replace your wallet, they said digital currency would replace your wallet. I think both are bogus and I've already replaced my wallet, with a money clip! No need to carry around that bulky leather thing, when my bank card, driver's license, cash and bus pass all clip together so easily.

They said the same thing about the penny... and that's far more useless than cash, and we still have the penny... and we still have the paper dollar while every other country has coin equivalents. File this one with the flying car prediction.

Using for years here as well, not a single issue.

Likewise.

My wallet died of starvation sometime around 2004..

what happens if Anonymous get pissed on PayPal?

I despise PayPal

bitcoin is the future

When I used paypal, I got scam after scam email. I don't think it will replace the wallet.

I think they play a lot of WOW in Paypal

In 7 years Paypal have frozen my account twice. Each time they seized my money and made me give detailed financial and personal information to them on a bit by bit basis that was clearly designed to drag on and on with no end in sight. They never answered my questions and never explained what was going on, or why this was happening, even after the 'process' was complete.

It took months before I could access my money again and because they do not disclose their location it takes some serious research only to find out it would be almost impossible to sue them should they decide to keep my money permanently. If Paypal were my bank I would have been completely screwed.

Trust Paypal ? That's the sickest joke I've heard in a long time. If there was ANY alternative for Paypal I'd sign up and never look back but as has already been pointed out, Ebay demands you use Paypal. Hopefully Visa will be able to receive payments soon and then it's good riddance Paypal.

Paypal sucks. Google it and you'll find thousands of people who have had the same experience as me.

Sell bitcoins with paypal, send bitcoins to buyer, buyer says they did not authorize the transaction, paypal takes my money and buyer keeps my bitcoins. N@ZIS

been using Paypal for years, never had a single negative issue.

What are they thinking? My wallet doesn't need power to operate. Guess what! No power... No Paypal. How many times have you gone shopping and the debt system is not operating?

Paypal is sick...really?? Reaaaally?? Hahahahah!! WTF!

Been a paypal user since 2006, and at least once a year they limit my account for no reason for "high risk activities". That and their outrageous fees = no way in hell they'll replace wallets.

Nawww, I like my wallet …