My Way News - A growing PayPal could soon overshadow parent eBay
My Way News reports: "PayPal bills itself as a shopper's online wallet. Users set up accounts and link them to bank accounts and credit cards, making it easy to transfer cash into the account. Then users can make payments through PayPal using either their cash balances or the underlying credit card. PayPal users can also send cash to someone based on as little information as an e-mail address or cell phone number [...] this week PayPal opened its system to third-party developers, which will mean PayPal can be built in to all sorts of applications. For instance, an iPhone app could let consumers order a pizza and pay for it with PayPal."

Comment: I think that Google is going to be a much bigger competitor than they imagine, but let's see how this shakes out. The trend though is clear, we are moving toward a world of digital transactions. Swiping a credit card is 20th Century technology, paying online with the click of a mouse or using your cell phone is the save of the future. The farther we get from physical cash the more our financial system will be based on digital data and that means he who controls the data controls the money.