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.

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

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

Visa will be launching its own digital wallet,
called , this year.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.