PayPal Expanding Reach in the Payments Space

The company has announced several new initiatives this week, including partnerships with bank technology vendors.

EBay subsidiary PayPal has been very active the past few years in increasing its presence in the payments space and becoming a bigger part of the world of brick-and-mortar commerce as well as online.

The company has made several announcements along these lines in recent days, such as a mag-stripe card that can be used in stores to be rolled out in 2012, and its new PayPal Access service designed to authenticate buyers and speed them through registration on e-commerce sites, including sites that don’t accept PayPal for payment. PayPal Access gives consumers the ability to sign up and sign in to participating websites with their PayPal usernames and passwords.

PayPal also this week announced partnerships with several bank technology suppliers, including one with NCR Corporation and S1 to enable real-time person-to-person payments from bank ATMs to anyone with a mobile phone or e-mail address.

For a more in-depth look at PayPal's payments technologies and its "future of shopping" initiative, please check out my story in our upcoming payments-focused digital issue in November.

Bryan Yurcan is associate editor for Bank Systems and Technology. He has worked in various editorial capacities for newspapers and magazines for the past 8 years. After beginning his career as a municipal and courts reporter for daily newspapers in upstate New York, Bryan has ... View Full Bio