The mobile payments space continues to pick up steam with PayPal announcing an update to its Android app that will allow users to send money using NFC technology.
The move comes after two of Australia’s major banks say they have experimented with NFC and are closely following how the technology expands across the world.
PayPal mobile director Laura Chambers demonstrated the new function at the VentureBeat mobile conference in San Francisco.
The app works by combining it with “bump” technology. Users input the amount that needs to be transferred then tap their phones together. A message will show up saying the money has been transferred.
“With a simple buzz you’ll be able to transact with friends, family, colleagues and employees easier than ever before,” Chambers said in a blog post.
Patrick Stafford is a freelance journalist and a former deputy editor of SmartCompany.
