kym mi s kym and jon ft. this week on "press: here." >>> if you would like to buy an old tea set on ebay, you can use paypal. it has been around for years online. now it wants out. out into the real world. in a way, paypal is a great barometer of what's going on. back when we first went online. first to market on an easy way to make purchases on computer. now, many of us carry our computers around with us, in the form of a cell phone. paypal coming along for the ride with a variety of products and partnerships that allow you, the consumer, to pay for the real-world items with a paypal account. >> paypal is really convenient way to pay. and so as much of the world sort of makes this trab significance from offline to online it makes them seize paypal payments to order pizza. >> tap or text or e-mail the store owner your information, and the funds to pay for your salad are deducted from your paypal account. we've become a cashless society, but it's not cash that paypal is looking to replace. it's credit cards. the lucrative transaction fees charged by visa and master card are worth billions. scott thompson is president of paypal. previous to that, he was executive vice president in charge of global technology for visa. he joins us on the cusp of paypal's big developer's conference. joining us is kym mcnichols and jon fort of cnbc. before we get started, so everyone tuning in understand, paypal has been around for years and years. explain your elevator explanation as to what paypal does for people? >> we allow you to safely and securely transact online. so whether it's ebay or off ebay in the united states or 189 other countries around the world if you want to do something online that involves a transfer of money, that's paypal. >> by signing up on a website, entering some sort of link to a bank account or credit card -- >> exactly. >> and then essentially e-mailing money. >> that's exactly it. >> are you now trying to get out into the real world. nobody would think of buying an apple pie with paypal. an apple mac maybe, but not an apple pie. >> i think the real world is actually tugging us there, because of the transition that's happening. online, what we know is online is quickly becoming offline. so the devices you interact with in a retail store, those historically haven't bee