PayPal claims wallet may be discarded in US
The wallet may become obsolete in the US within four years with people increasingly going for digital money, an e-payments company has claimed.
"We believe that by 2015 digital currency will be accepted everywhere in the US -- from your local corner store to Walmart. We will no longer need to carry a wallet," Scott Thompson, President, California-based PayPal, said.
"Consumers are increasingly giving up traditional payment methods", including cash, cheques and even debit cards, said Thompson whose company profits from customers switching from hard money to payments online and over mobiles.
The company has launched a publicity campaign in which five people in San Francisco will attempt to pay for all their purchases with digital currency, despite the fact many shops still do not accept it.
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