Paypal to greatly increase in-store presence
Paypal's ability to collect payments in retail stores is about to expand.
The leader in alternative online payments has just announced that it struck a major partnership with some of the leading providers of in-store cash register systems, allowing consumers to use their PayPal account to pay for products from within a retail store.
Stores will be able to use their existing equipment to begin accepting PayPal payments.
Among the partnerships PayPal secured are with Verifone and Equinox Payments. You may not have heard of them, but chances are you've swiped a credit card through one of their systems.
"In-store payments are a natural extension of what we’ve done. As mobile has become important, retailers have gotten interested in how they can use mobile as a connective tissue [to] the consumer," PayPal retail vice president Don Kingsborough was quoted as saying in a VentureBeat interview.
PayPal launched a flagship partnership with The Home Depot eariler this year, which allows customers to pay for their purchases by simply signing into their PayPal account on the same touchscreen display that you normally use to sign your name or enter a debit card PIN.
JCPenneys, Office Depot, and Jamba Juice are also specific retailers that have come on board to accept PayPal payments.
Paypal has proven its ability to stay fresh and relevant in this time of rampant change in the landscape of in-store payments. It's interesting to see how quickly it has managed to implement vast and wild advancements in the market.