PayPal Predicts the End of the Wallet By 2015

BogenDorpher writes "As new technology emerges, one can safely assume that the days of carrying a wallet will soon end. In fact, PayPal believes that by the year 2015, no one will be carrying a wallet anymore. Instead, mobile payment methods will be taking over."

Re:I hope that..

[iamhassi]

"They are idiots, run by the same idiot philosophy which drives eBay - almost no customer service."

Not true anymore. Call Paypal at 1-888-221-1161 and see how long it takes to get a real-live person on the phone. I've never waited more than a minute. Wish I could say the same about my ISP, gas and electric. Even my credit union takes longer to answer.

I've had over 4,000 transactions through Paypal in the past 24 months and only 3 issues, none of them so major that I would stop using them. Did have some issues 10 years ago but they're much better now, probably because they've changed how they operate after several lawsuits. [wikipedia.org]

Re:Wallet != Money

[tomhudson]

And more important, a wallet doesn't charge a transaction fee to anyone. On the internet, content is king - everywhere else it's cash.

Wallets also carry bank cards, ID cards, drivers licenses, bus and subway tickets, all sorts of other cards (and credit, store, and gas cards WANT you to see their logo every time you pull it out).

What next - "Paypal predicts the end of the purse by 2020?"

Paypal will disappear long before wallets do.