PayPal and Venmo to move into in-store payments 'next year'

www.nfcw.com

PayPal has had a tumultuous experience with in-store payments. It's been on again off again more than Antonio Brown's 2019 football season, and it makes sense why: in store payments are going to be a necessary part of any long term payments strategy. As online and offline payments converge, with online players coming offline and vice versa, a complete payments stack is now table stakes. Last year PayPal bought iZettle out of Europe to make a broader push in region (and to prevent Square from gaining a foothold in the market). Now, PayPal CEO Dan Schulman says it's to begin a big push into in-store payments in 2020, via PayPal and Venmo brands and using NFC and QR codes.

“We can actually simply put in a PayPal Wallet experience for physical stores and anywhere those other wallets are accepted — it’s exactly the same technology, it’s near field communications technology — we’ll be able to use those as well."

Read more...
Linkedin

Want to receive more content like this in your inbox?