EBay’s PayPal gives retailers preview of virtual wallet and barcode payment options

EBay's PayPal service has given retailers a preview of several new features about how they sell goods and accept payments including mobile payments, barcode scanning using handheld devices, store inventory lookup, virtual wallet and location-based offers.

EBay's PayPal service has given retailers a preview of plans to give them more choice about how they sell goods and accept payments.

The payment services firm plans to add several new features in the coming months, including mobile payments, barcode scanning using handheld devices, store inventory lookup, virtual wallet and location-based offers.

The improvements are part of an effort by eBay chief John Donahoe to accelerate growth and step up competition with Amazon, according to Bloomberg.

"PayPal is re-imagining money and making it work better for merchants and consumers - whatever device you're on, wherever you are in the world, and however you prefer to pay (whether that's cash, credit, or installments)," PayPal president Scott Thompson, wrote in a blog post.

PayPal says the new services will help boost its volume of transactions in 2012 beyond the $100bn the firm is due to report this year, up from $92bn in payment volume in 2010.

In July, eBay reported a 25% increase of year-on-year second quarter sales to $2.8bn driven by PayPal, with the payment division surpassing 100 million active registered accounts and reporting its first billion-dollar revenue quarter.

At the time, Donahoe promised to partner with retailers of all sizes to help them grow in a rapidly shifting, technology-driven multichannel commerce environment.

"We will help consumers shop and pay anytime, anywhere, any way," Donahoe said.

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