New Payments Platform From PayPal [Video]

The president of PayPal, Scott Thompson has announced that the online payment system will be rolling out some interesting changes over the following months, which will make it easier for online merchants and high street stores to offer their customers a much better user experience, which hopefully will mean the use of smart phones etc.

More will known when PayPal, eBay, and Magento communities get together at the X.commerce Innovate Conference on October 12th to 13th being held in San Francisco.

According to Scott Thompson, who is the President, PayPal, he wrote on the PayPal blog;

PayPal is re-imagining money and making it work better for merchants and consumers – whatever device you’re on, wherever you are in the world, and however you prefer to pay (whether that’s cash, credit, or installments).

We’re rolling out a one-stop shop for merchants to engage their customers directly during every part of the shopping lifecycle –  generating demand from consumers through location-based offers, making payments accessible from any device (not just from the mobile phone), and offering more flexibility to customers even after they’ve checked out. Here’s a quick summary of the new products, services and capabilities we showed to our merchants this week.

Source [CNet]