Todd Rundgren

PayPal's cashless utopia: Built on eBay's back

November 9, 2010: 2:54 PM ET

PayPal is working hard to become the gold standard for online payments, chasing down Google and fending off the competition. Meantime, being the apple of eBay's eye, and its subsidiary, hasn't hurt either.

By Dan Mitchell, contributor

PayPal Headquarters

Image via Wikipedia

This week, PayPal is hosting an event in New York called "Cashless Utopia." PayPal's aim is to usher us in to this utopia by establishing itself as the standard mechanism by which we pay for everything – online, on mobile devices, and even in the physical world.

The "utopia" will surely come, eventually, though referring to it that way seems a bit hyperbolic. Whether or not PayPal will be the Thomas More (or the Todd Rundgren) of this new world is still unclear, but in the past few years, it has made incredible strides. More

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