30/06/2011
By Scott Thompson
By 2015 digital currency will be accepted everywhere in the US, from local corner stores to Walmart, and customers will no longer need to carry wallets. That's the view of Scott Thompson, president, PayPal.
Thompson made his prediction as he revealed that his company now has more than 100 million active accounts. Writing on the PayPal blog, he commented: "After reaching this important milestone, my colleagues and I believe we need to look forward, not back. Consumers are increasingly giving up traditional payment methods such as cash and cheques and turning to a more modern - and anytime, anywhere - form of payment. We saw this trend beginning more than a decade ago, and built our business model around it to meet the needs of the digital world."
How confident is PayPal in achieving the 2015 goal? "So confident that we’ve asked five Bay area employees to embrace a digital lifestyle and use only digital currency to pay for all of their purchases. The five lucky winners will be announced at an employee event on 11 July," Thompson said.
