Paypal Testing In Some Retail Stores - Other News

ADVERTISING DISCLOSURE

ADVERTISING DISCLOSURE:
Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from most credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. Credit-Land.com has not reviewed all available credit card offers in the marketplace.

Credit Card Applications » News » Other » Paypal Testing In Some Retail Stores

Paypal Testing In Some Retail Stores

Paypal Testing In Some Retail Stores
The content is accurate at the time of publication and is subject to change.

PayPal, the e-commerce payment provider run by eBay, is very familiar to online shoppers, with over 100 million consumers using it to transfer funds to purchase things over the Internet. The company is now expanding to handle offline purchases as well, which could ultimately make PayPay a rival for big payment processors such as American Express, Visa and MasterCard.

PayPal plans to partner up with point-of-sale software provider ABJ software and intends to hold trials with over 20 retailers before 2012 comes to a close. eBay forecasts that the in-store PayPal payment option will be profitable within five years.

For starters, eBay is launching a trial in 51 Home Depot Stores, the majority of which are located in or around the San Francisco area. Customers with Pay Pal accounts will be able to use it make in-store purchases at participating Home Depots as soon as March. Consumers will be able to pay via PayPal at checkout stations within Home Depot or at self-checkout kiosks either by swiping a PayPal card and punching in their PIN number or using a telephone number and a pass code.

“We believe PayPal`s solution has the potential to improve the checkout experience as we know it today by making it fast, secure and more convenient for the customer while providing savings for Home Depot,” said Home Depot`s treasurer and vice president of financial services Dwaine Kimmet, according to Reuters.

PayPal pitched their in-store payments system to nearly 120 different retailers in September at a Los Angeles event. The country`s second-largest office supply retail chain Office Depot is also participating is testing.

“It`s at this point in a small number of stores … because there are still some rough spots in that experience. There are some limitations on who can use it, service carriers that support that,” said the president of Office Depot’s North American unit Kevin Peters, as reported by Reuters.

“At this point, we are walking very, very slowly. The last thing we want to do is to roll out technology that doesn`t appreciably change the customer experience,” said Peters.

The motivation for Home Depot, Office Depot and other retailers to get on board is revenue – PayPal transactions cost them less in fees than purchases made by either debit or credit card.

According to data released by PayPal, they added a million new accounts each month throughout 2011 and now boasts 106.3 million registered accounts that are active.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
Add to Favorites:

Related News:

Credit Card Borrowing is Up among Millennials
Credit Card Borrowing is Up among Millennials

Posted: May 20, 2019

In the past millennials had fewer credit cards in their collective wallets, but things are changing according to the Federal Reserve Bank of New York’s Liberty Street Economics Blog, with over half of people in their 20’s carrying a credit… Continue reading

Three New Credit Cards from Sallie Mae
Three New Credit Cards from Sallie Mae

Posted: May 16, 2019

When people hear or read the name Sallie Mae more than likely they think about student loans because the company has been in that industry for years, but now they are looking to expand their reach and moving into the credit card business…. Continue reading

Earn a 75k Bonus With the Barclaycard Aviator Business Credit Card
Earn a 75k Bonus With the Barclaycard Aviator Business Credit Card

Posted: May 15, 2019

If you have been eyeing the Barclaycard AAdvantage Aviator Business credit card you may want to take a closer look because they have just raised the bonus offer that comes along with this card. Right now new cardholders can earn 75,000… Continue reading

Get the latest news, articles and expert advice delivered to your inbox. It's FREE.
Introducing the New Citi Rewards+ Card - the only credit card that automatically rounds up to the nearest 10 points on every purchase - with no cap
For Excellent, Good Credit
Enjoy 70,000 bonus miles after spending $5,000 on purchases in the first 90 days
For Good/Excellent Credit
See Rates & Fees
Perfect credit not required for approval; we may approve you when others won’t
For Fair/Bad Credit
You've successfully subscribed!

Please specify the following:All these fields are optional

Your Credit History
Themes you are interested in:

By providing this information you help us make our news letters more useful and informative. Thank you!