PayPal planning to offer in-store payments
PayPal is expanding its brick-and-mortar payment services to more than 7 million stores across the US in partnership with Discover Financial Services.
EBay’s payments unit said retailers that take Discover cards will be able to process PayPal payments beginning next year. People will be able to pay using PayPal cards and later, mobile devices.
The move marks the latest step in PayPal’s push into physical retailers as it expands from offering online payments.
PayPal, which eBay bought a decade ago, has more than 50 million active users in the US and is the e-commerce company’s fastest-growing business.
Earlier this year it unveiled a mobile payments service, PayPal Here, that lets businesses process credit card payments with smartphones. It rivals mobile payment services such as Square, which recently signed a deal to process payments at Starbucks locations.
PayPal is also accepted as a form of payment at physical Home Depot stores and other retailers as part of its offline push. It is looking for bricks-and-mortar retailers to accept its mobile payment service in Australia.
The deal with Discover lets retailers use the point-of-sale systems that they already have in their stores to accept PayPal payments.
The move comes as mobile payment systems became the new strategic battleground for retailers, credit card companies, technology companies, banks andthird-party app providers.
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