PayPal passes 100 million active accounts, says wallet will die in 2015

[Emil]

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.

PayPal believes that consumers are increasingly giving up traditional payment methods such as cash and checks and turning to a more modern form of payment. As the trend toward digital currency continues to gain momentum, PayPal wants to deliver solutions than are better than what is currently the norm today.

In fact, the company predicts that by 2015 digital currency will be accepted everywhere in the US – from your local corner store to Walmart. In other words, PayPal thinks that in four years you will no longer need to carry a wallet.

PayPal is so confident that this goal can be achieved that it has asked five of its Bay area employees to embrace a digital lifestyle and use only digital currency to pay for all of their purchases. The company will then likely try to learn from their findings and experiences.

I would love to be able to get rid of my wallet in the next few years: it's bulky and annoying to carry around. I see it as a necessity though, and if PayPal or some other company can change that for me, I would not complain.

I don't believe that can happen by 2015 though. There is simply way too much infrastructure that depends on the current model, and businesses do not want that to go to waste. While the gain for consumers is worth the effort, the same cannot be said for companies on the other end of the equation.

Permalink to story.

https://www.techspot.com/news/44510-paypal-passes-100-million-active-accounts-says-wallet-will-die-in-2015.html

 

[Guest]

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.

 

[Guest]

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.

 

[KG363]

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

 

[MilwaukeeMike]

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.

 

[Leeky]

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

I have been using it for many years now, and never once had a single problem.

 

[Guest]

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

 

[dividebyzero]

I have been using it for many years now, and never once had a single problem.

Likewise.

"PayPal.......says wallet will die in 2015"

My wallet died of starvation sometime around 2004..

 

[Guest]

what happens if Anonymous get pissed on PayPal?

 

[Guest]

I despise PayPal

 

[Guest]

bitcoin is the future

 

[tonylukac]

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

 

[Guest]

I think they play a lot of WOW in Paypal

 

[Guest]

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.

 

[Guest]

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

 

[red1776]

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

 

[Guest]

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?

 

[Guest]

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

 

[Guest]

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.

 

[PinothyJ]

Nawww, I like my wallet …

 

[captaincranky]

Let me get this straight, "Pay Pal" thinks that it's going to determine the direction that currency is destined to take. Wow, they're suffering paranoid delusions of grandeur.

I wouldn't go near that turd operation with someone else's money, let alone my own.

And for those of you claiming, "never had a problem", that's as may be. But, I still insist on doing business directly, without a middleman. In fact, I rather prefer "mail order" purchases, where I can call them up, and talk to a living person. I'll spare you my list, but only this time.