By Scott Thompson
PayPal has given audiences at the SXSW show in Austin, Texas a peek at its new digital wallet offering. The re-designed wallet will start to roll-out later this spring and throughout the summer.
Writing on the PayPal blog, Sam Shrauger, vice president, global product & experience, says: "This marks the first time in our 13-year history that we’ve completely redesigned and re-architected the PayPal wallet to make money work better in today’s rapidly evolving, multi-channel shopping environment."
He adds that this is "an intelligent wallet that will do for digital money what internet mash-ups did for digital information: free it, so you can connect it, filter it, personalise it, share it and make it work the way that you want it to. Because PayPal’s wallet is digital – not just mobile, digital – it lets consumers do things with their money that have never been possible before. And there’s no finite set of features, because the digital wallet can evolve with the pace of innovation, allowing us to incorporate new functionality as consumer demands shift."
Features include: Separating the purchase from the payment: Buy something in a store, take it home and decide later how you want to pay for it; Personal Lists: Search for items, compare prices and create lists of things you want to buy; Found Money: The wallet will find deals and coupons for items on your personal lists once you’re in the store. Spending rules. Create specific “set asides” like travel funds, set rules by purchase amount, tie specific payment instruments to specific merchants.
For a demo of the wallet, click here: http://ebayinkblog.com/2012/03/13/paypal-unveils-new-digital-wallet-at-sxsw-2012/