PayPal has arrived on the British high street, with shoppers in the UK now able to look forward to paying for their purchases at over 230 stores by smartphone, courtesy of a new app developed by the global e-commerce giant that is not reliant on NFC technology.
The PayPal inStore app will be available to download from Android and Apple iOS devices as of tomorrow. PayPal says it is endeavouring to turn the convenience of online and at-home shopping into an everyday reality in town and city centres across the land.
The app works by generating a unique barcode and transaction number for the buyer, which the shop assistant then scans to deduct payment from a centralised PayPal account. The company says that no sensitive personal or financial information - or actual money - is stored in the process.
Claiming to work even without access to mobile or WiFi signals, the service has so far been embraced by four prominent high street fashion retailers - Coast, Oasis, Warehouse, and Karen Millen have all signed up.
PayPal's latest service comes as interest in mobile payment technology is increasing in the UK and around the world - online deals aggregator Groupon is currently looking to break into the USmarket, while in Europe Visa are looking at an autumn launch for its digital wallet system.
Owners of select credit and debit cards are already able to make contactless purchases. Barclays leads the way amongst banks enabling next generation payments, with NatWest and HSBC also arming their customers with the new delivery method. The Post Office is rumoured to be looking at the possibilities of the technology.