PayPal introduced its money transfer widget at the MobileBeat technology conference in San Francisco on Wednesday. PayPal’s new widget uses Near-Field Communications technology, which lets you pay for purchases with a wave of your smartphone.
PayPal’s widget allows for money transfers between two NFC-enabled phone holders. Say you want to transfer money to another PayPal user. They’ll request a specific amount of money from you on their phone, and after you tap your NFC-enabled phones together, the cash transfers from your PayPal account to the other.
Read more, via Wired.com.