PayPal Deploys New Payment System on Office Depot, Home Depot
PayPal and Office Depot are reportedly testing the former's new payment method, called by experts as 'wallet in the cloud', that allows consumers with PayPal account to actually make in-store purchases, reports said. PayPal

PayPal made it easier than ever to pay for bills or transfer funds with its announcement of mobile NFC technology at a showcase on Wednesday.

At the Mobilebeat conference in San Francisco, Ebay Inc.'s PayPal showed off its new technology that will allow customers to use their phones to pay for products.

The technology is called near-field communications (NFC) and it allows for transaction, transferal of data, and connection with a simple touch. For PayPal, you can now take your mobile phone and tap it up against another NFC capable phone and be able to complete transactions.

Initially the widget will be offered in the Samsung Nexus S phones, based on the Android operating system, but will expand as more phones become NFC capable. The PayPal announcement comes after Google recently released its Google Wallet widget. The Google Wallet widget is designed to allow mobile users to tap the phone onto credit card machines to pay for purchases.

PayPal recently sued Google for stealing employees that were integral to the development of its NFC technology.

PayPal primarily is an online financial transactions company, but one PayPal executive noticed that users want more than just an online option for transactions.

But at PayPal, we've said all along that consumer behavior won't change unless we're able to offer an experience that's truly better than what's available today, senior director of PayPal mobile Laura Chambers said.

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