PayPal has given merchants and others a peak at the technologythat it says will change the future of payments at the point ofsale in the U.S. and move past the dominance of Visa and MasterCardin the industry.

The new suite of payment services relies heavily on mobile phonetechnology and in many cases bypasses point-of-sale terminals,according to reports from media outlets which were allowed to viewthe technology and a video the company produced.

Among the specific technologies displayed were an approach whichwill let a user enter a telephone number and a personalidentification number with the amount then charged to a bankaccount or card associated with the number.

Another approach will allow the user to swipe a PayPal-issuedplastic card at the point of sale. The card will not have anaccount number nor carry a Visa or MasterCard logo, but will require the use of a PIN.

Larger items will be purchased in a store by scanning the item'sbarcode which will allow PayPal to find that exact item in stockwith the retailer and allow the user to purchase it from the aisleand arrange for it so be shipped to their home address, accordingto media reports.

PayPal will also have the ability to provide credit for theitem, allowing the user to purchase it and pay for it over a setnumber of payments.

The payments company expects merchants to like the new servicesbecause, unlike contactless payments or EMV payments, they do not require any change in paymenthardware. In addition, relying on mobile phone technology will allow users to “check in” whenthey enter a store and receive targeted marketing or other salessupport automatically.