PayPal to roll out NFC money transfers between Android devices this Summer

This is pretty cool and is a good insight into where mobile payments are heading. At MobileBeat 2011 today PayPal unveiled a new Android widget that allows NFC (near-field communication) capable devices to transfer money by simply bumping their phones together. The process of sending/requesting money looks incredibly easy, all you have to do is wait until the phones “buzz” and enter your PayPal password or PIN . PayPal says this will be rolled out sometime this Summer for NFC enabled devices, so right now it’s the Nexus S.

Source: PayPal
Via: Phandroid