Written on 04 June 2012 by With more than 110 million active accounts to date, Paypal is venturing beyond its online payment service to accommodate offline payment processing for several stores in the United States, including Home Depot, JC Penny, Nine West and Toys R Us.
Home Depot leads the selection of retailers allowing Paypal payments for offline purchases, as it began to offer this new feature to its customers at the start of this year, across 2,000 of its stores located in the U.S. Now several stores are set to follow suit, as it presents Paypal as an excellent alternative for customers to process payments without having to use cash.
Boston Herald reports that customers planning to use their Paypal account for offline purchases may do so through their mobile phone number or Paypal payment card. Speaking about the new Paypal service, spokesman Anuj Nayar says that the feature transforms 110 million active Paypal accounts into “digital wallets”. The benefits, he says, doesn’t stop there, as the service brings a world of advantages to retailers, too. This new, convenient and easy way of paying for in-store buys can bring more customers into these brick-and-mortar shops.
This week, Shopkeep POS – an iPad POS in the cloud – also announced that they will be using Paypal as a means for customers to “check-out virtually” after shopping in-store. Shoppers using the system will only need to log in through the Paypal app on their iPhone. The ShopKeep POS iPad register will display the shopper’s name and photo upon checkout. After finalizing the payment, the shopper is sent a receipt through email.
Jason Richelson, CEO and Founder of Shopkeep POS, thinks the partnership is a right fit for the company, as it works for their straightforward POS system, offering valuable cost-effectiveness at a rate of 2.7%.
According to Boston Herald, an estimated $7 billion in net mobile payments is anticipated by Paypal for this year, a significant growth from its $4 billion the previous year.
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