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Move over Square Wallet – PayPal has it out for you with their latest PayPal Mobile Update

September 5, 2013 - Written By Keith Myers

PayPal is one of the oldest names in digital wallets and has been since its launch on 1998. Although PayPal has had an application in the Play Store for years, its purpose was simply sending small sums of money between users with a phone number or email address.

Earlier today, PayPal unveiled 5.0 of its latest mobile application with a set of features that allow it to compete directly with the mobile giant Square. While Square has an alliance with Starbucks, it has failed to attract other businesses. PayPal is already accepted at several brick and mortar retailers including HomeDepot and RadioShack. PayPal is quick to remind us that it accepts payments in over 160 countries whereas other mobile wallets are limited to one.

The new PayPal application brings in a stunning new design that fits with Google’s Holo UI Guidelines. The Hamburger slide-out menu creates an intuitive way to navigate the application without having to dig through several complex menus.

Unlike Google Wallet and ISIS, The PayPal wallet does not require any special hardware to function (Secure NFC Elements) and should work with any Android or iOS device. After installing the mobile wallet onto a users phone, you simply need to authenticate with an existing PayPal account and start spending.

The PayPal Mobile Wallet now includes a special offers section to promote businesses in the area that accept PayPal. These offers may include special discounts or digital coupons that are contingent on the use of the PayPal wallet.These offers can be found under the “Shop” tab and are intermixed with other venues that accept PayPal. These venues seem to be sorted by the geographic distance between you and the store.

Paying with PayPal is just as simple as you would expect any mobile wallet to be. Once you make your product selections, you go to the cashier, and select the “Pay with PayPal” option on their Point of Sale Screen. You then enter your phone number along with a pin number that can be created on PayPal’s website. The application allows you to choose your payment method if you happen to have multiple cards or checking accounts. Feel free to start purchasing your KitKat bars with this application.

The application is available in the Google Play Store now and should be available as an update for anyone who has an existing install.

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We have also taken several screenshots of the application for those of you that are on the fence with installing this.