With the inception and launch of more and more online and mobile payment services, such as Google Wallet, the conventional payment services that have been offered for years now are naturally trying to stay ahead of the competition. PayPal recently unveiled two transaction-related services which included NFC-based service and another that utilized PINs. And now, PayPal has revealed plans of introducing yet another service for online payments.
PayPal hasn’t revealed many details about this new service. According to the company, the users will be able to use the new service to get their money and then ‘connect it, filter it, personalize it, share it and make it work the way that you want it to.’
This new service is a rather interesting and innovative payment model. It lets you decide how you would like to pay for a purchase even up to seven days after you made the purchase. You can choose to pay from a number of options. For instance, when you make the purchase, the system will automatically see if there are any gift cards or instalments available for that particular purchase. This is why this service is termed an ‘intelligent wallet.’ It also compares different prices and keeps your shopping lists saved for future use. Once you store list, the intelligent wallet will automatically look up coupons for the items on the list.
Depending on many different variables, including the availability of gift cards, instalments etc for a specific purchase, the system will automatically generate your payment method. According to the company, this ‘intelligent wallet’ will be available from coming May.