Claims it will be "dramatically better" than credit cards

PayPal to offer high street payments

Online payment service PayPal is working towards being able to offer PayPal as a payment option within physical retail stores.

PayPal’s global boss Scott Thompson told the ABC’s Inside Business in an interview that the "lines are all blurring between online and offline and mobile" as devices are being connected to networks.

Thompson said that this was a "massive opportunity" for the payment service in that it could become "an option for payment at point of sale because that device is essentially a computer when it’s connected to a network," he said.

The service is working on offering three options, Thompson said, confirming only that a mobile phone would be one of the options.

"There will be two other options that we offer consumers that’ll be unique."

Thompson said that PayPal would offer a "whole new experience" which didn’t "ride the existing rails that the credit cards do" and that it would be "dramatically better than what’s there today for the merchant and for the consumer."

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