PayPal re-imagines money for the digital age

AUSTIN, TX - VIDEO - PayPal has finally taken the wraps off its digital wallet offering at the SXSW show in Austin Texas.

The company says the overhaul marks the first time in the its 13-year history that it has completely re-achitected and re-designed its payments product set.

Many of the features on display have been known about for some time, including applications for letting people separate their purchase from their payment, switch from debit to credit cards post-transaction, build personal lists, collect coupons and set spending limits for particular consumables.

"It lets consumers do things with their money that have never been possible before," boasts Sam Shrauger, vice president, global product & experience, PayPal.

The new features will be rolled out on a phased basis from late May.

In this two-part video posted on the ebay Ink blog, Shrauger walks through his entire SXSW demo.

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