Just a week after announcing the acquisition of Zong giving PayPal access to over 250 mobile carrier around the world they’ve demonstrated their first NFC (Near Field Communications) solution for Android handsets.
Money can now be transferred by typing a request to send or receive money into a widget and then simply holding phones together until a buzz indicates the request has been transmitted. Then it’s just a case of entering your PayPal password or PIN to complete the money transfer.
Currently the only Android phones to with an NFC chip built in is the Nexus S. That kind of limits the market for PayPal when they launch the widget later this year. However it’s expected that many future Android phones will have NFC chips built in and soon it won’t be just sending money to your friends by touching mobile phones – you’ll be using your NFC capable mobile phone to pay with PayPal wherever you see the PayPass symbol available.