Personal financial information is in the PayPal digital cloud
“safer than in your pocket” and “can’t be lost or stolen from your
wallet, your card or on your phone” claims PayPal’s director of
global communications Anuj Nayar.
Nayar’s comments were published in an email to
the Wall Street Journal and came in response to criticism expressed
by Visa’s executive Jim McCarthy about the security of PayPal
offline strategy.
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McCarthy said at a Goldman Sachs event in San
Francisco a week ago that PayPal’s new digital wallet was not
secure, claiming that it allows anyone to look over the shopper’s
shoulder and obtain the payment details.
PayPal is currently testing its digital wallet
in actual stores. Without any physical payment device account
holders can purchase by typing in a phone number and a PIN
code.
The row between the two executives reflects
the latest in the war among the cards and alternative payments
industries to gain a stable foothold in the mobile payments market
place.
Visa will be launching its own digital wallet,
called v.me , this year.
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By GlobalData
