PayPal sues Google for stealing its digital wallet technology
| May 27, 2011 at 03:43 am
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The Internet Search Engine Google is being sued by the online payment service PayPal over its plans to turn mobile phones into what it calls digital wallets. PayPal says two of its executives passed on trade secrets after defecting to Google. The two firms are battling over a technology that some say could ultimately rival cash and credit cards as mechanism for payments. It’s called Near field Communication (NFC), smartphones with NFC chips can be used to make payments over a distance of a few centimeters similar to swiping a digital pass.
PayPal sues Google over mobile wallet technology