Here's what to make of the PayPal mobile payments rumor

There’s a rumor making its way around the internet that PayPal plans to launch a stand-alone, NFC-based in-store payment app early next year, according to Payment Week. It’s seemingly based on a line in the press release announcing PayPal’s new partnership with Bank of America about an upcoming NFC mobile wallet experience. The app could serve as a companion to PayPal’s existing mobile app. PayPal has been leaning into mobile. In Q2, PayPal saw $36 billion in mobile payment volume, worth just over a third of its total payment volume (TPV).