PayPal Expands Offline Payments with 15 Retailers, VeriFone Deal

PayPal’s venture into offline, in-store retail transactions has made significant strides, signing deals with 15 retailers to add its payment system.
PayPal, which is owned by eBay, is already in place in about 2,000 Home Depot stores.
Since March, customers with PayPal accounts have been able to purchase items at Home Depot checkout stations or self-checkout kiosks by swiping a PayPal card and entering their PIN number, or with a phone number and pass code.
The new deals are with Abercrombie & Fitch, Advance Auto Parts, Aéropostale, American Eagle Outfitters, Barnes & Noble, Foot Locker, Guitar Center, Jamba Juice, JC Penney, Jos. A. Bank Clothiers, Nine West, Office Depot, Rooms To Go, Tiger Direct and Toys “R” Us.
PayPal has also announced deals with VeriFone and Equinox, two of the top point-of-sale terminal manufacturers in the world, to integrate PayPal functionality into their payment terminals.
They join Ingenico in providing PayPal payment options to consumer-facing terminals.
“With these deals in place, PayPal now has access to nearly 40 million payment terminals worldwide to help us drive innovation at scale,” said PayPal President David Marcus in a blog posting.
PayPal’s offline phase is still in its pilot phase, he said.
”While 2012 is a ‘test and learn’ year for us with regards to the offline retail market, we have no doubt that with newest retailers we are off to a great start.” Marcus said.
While PayPal is a major play in the e-commerce area, online payments accounted for 7 percent, or $200 billion, of total U.S. retail sales last year, according to Forrester Research.
Marcus boasted that PayPal is “on track to change the game again in offline payments.”

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