New PayPal app takes payments to a new level

Aussie smartphone owners will soon be able to pay for goods without using cash or credit cards thanks to a new PayPal application.

The app will require people to upload a photo of themselves to their PayPal account and this will then be used by store owners to verify their identity when they attempt to make a purchase via the firm's "digital wallet", the Australian Associated Press reports.

PayPal Australia managing director Jeff Clementz said the system will alter the way shoppers engage with merchants.

"You show up, make your order… but instead of pulling out credit cards or cash they push your picture and the payment's complete – they receive an SMS and an email right away," he was quoted as saying.

Aussies are certainly not slow to embrace new technology and a recent study by ANZ highlighted strong demand for sophisticated developments such as fingerprint recognition systems as a replacement for PIN codes.

Have a question about credit cards? Ask the money gurus at Mozo Answers.ADNFCR-1761-ID-801487678-ADNFCR