Shop and Pay on-the-go

In June last year I had covered how Homeplus in South Korea had created a virtual store in a subway station in order to blend into people’s everyday lives. Since then Procter & Gamble has set up the same virtual stores in four of the busiest subway stations in Prague and Chinese online supermarket Yihodian has also borrowed the idea and installed virtual supermarkets in 15 subway stations around Shanghai.

This year PayPal has also launched the same QR code shops in 15 Singapore subway stations and enabled commuters to buy Valentines gifts from eight different retailers by simply scanning the QR code on their smartphone…

In USA, PayPal has eliminated the need of a wallet or phone altogether. In a partnership with Home Depot, PayPal has begun to roll out an in-store service that enables payments at stores using only a mobile phone number and a pin number at checkout…

Money is truly being re-imagined and contactless payments is going to be a norm by late 2012.