by Karl Utermohlen | September 5, 2013 2:01 pm
PayPal is working on a new app and the company is hoping that it will help them compete with credit cards
CNET reports that the online payment service that PayPal offers will now be available as a mobile application that allows users to skip lines at stores and pay their bills on the spot. The internet company hopes that consumers will eventually choose this app over credit cards, but it also realizes that this app would have offer some discounts or rewards program as an incentive.
The app will also has a service that allows users to pay for their restaurant bills without having to wait for the check. This feature is still being tested, but customers have responded positively to it so far.
PayPal is also offering a new service called BillMeLater which lets independent merchants offer a line of credit to consumers without committing to a major credit card company. The app also lets users manage their accounts, add funds, look at offers and see their transaction history.
Source URL: http://investorplace.com/2013/09/new-paypal-app-may-get-rid-of-wallet-once-and-for-all/
Short URL: http://invstplc.com/1nwdG1r
Copyright ©2014 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.