PayPal uses NFC to make face-to-face transactions easier

So it seems that PayPal has decided to utilize the NFC technology found within the Samsung Nexus S device to make face-to-face transactions a lot easier. All the user has to do is request for the amount they want within the PayPal app, tap it against another NFC capable device with the app and wait for the buzz, to indicate that a transaction has been requested.

The person you’re requesting the money from will then receive a notification letting them know that money is being requested from them, which will then launch a login page where the user will have to enter their password to log in to their PayPal account. Once the login is successful, the money will be sent, accompanied by a confirmation email to the person requesting for the money.

It appears to be a pretty quick way to transfer money to someone else, without having to run out to an ATM or use a credit card or write a cheque, especially if you did not bring your chequebook with you. Perhaps in the future we’ll start seeing more use for NFC apart from monetary transactions, but it’s a great start.