Glenbrook's Carol Coye Benson has learned that several major consumer brands are working together to launch PayPerPal, a new "account to account" transfer offering that turns those small, handy, paper-based yellow pads into "order to pay" documents suitable for making purchases at local convenience stores or for getting books out of local libraries.
PayPerPal is reportedly also in discussions with several major airlines who believe there's a new business case with substantial downstream revenue derived from recycling new PayPerPal tickets into Starbucks coffee cups.
In the ecommerce space, sources tell Glenbrook that PayPerPal's unique faxable format will enable sellers to quickly verify the validity of the payment instructions, enabling timely fulfillment.
"We're excited about PayPerPal," said Glenbrook's Allen Weinberg. "We think it's especially attactive to aging baby boomers who can especially relate to paper-based solutions."
One innovative New York-based financial institution is reportedly planning an Overnight PayPerPal service -- remotely printing, stuffing, and overnight express mailing the PayPerPal page to anyone in the continental US. Once received, the shipping label combined with a special PayPerPal code enables remote cash withdrawals at any nearby ATM, provided there's a camera present.
PayPerPal is expected to be officially announced sometime in the next couple of months.
PS: Happy April Fools!