Mass adoption of NFC technology is at least three years away according to Paypal’s director of communications Anuj Nayar, speaking to Techcrunch. The comment confirms the company's previously expressed scepticism on using NFC for point-of-sale transactions, which was confirmed at a recent event which the company staged to show off its proposition for retailers where NFC only featured as a means for P2P transactions.

As part of its attempts to woo merchants, PayPal is opening a pop-up store in Manhattan from November 1. Interested retailers will be invited to visit the store that will showcase the company’s point-of-sale technology. A QR code will also enable consumers who are passing the store to find out more about PayPal's technology.