|PayPal to be available in-store through Discover|
PayPal extended its offline strategy by teaming up with Discover to bring PayPal to more than seven million merchant locations across the United States, and potentially to millions of international merchant locations in the future.
Starting in 2013, Discover will work with PayPal to enable participating merchants to accept PayPal through their existing relationship with Discover.
"The establishment of this relationship... will help shape the emerging payments landscape by bringing together an established direct banking and payments company with a leading commerce enabler to create an alternative payments option for consumers at the point of sale," says Diane Offereins, president of Discover Payment Services.
"This relationship quickly extends PayPal's reach to millions of merchant locations nationwide and... will create new benefits for Discover merchants without requiring new hardware or software," says Don Kingsborough, PayPal's vice president of Retail. "This relationship will deliver a truly seamless digital wallet, available most places consumers shop offline."
Participating merchants will be enabled to accept PayPal through their relationship with Discover, without having to install or upgrade existing point-of-sale hardware or software. Consumers will know of the additional payments option through in-store signage. PayPal expects to bring brick-and-mortar merchants more shoppers in-store and to extend convenience and utility for consumers through its mobile payment solutions. Additionally, PayPal's more than 50 million active U.S. customers are expected to help increase customer engagement, loyalty, and incremental sales at the physical point of sale.
[This article was posted on September 4, 2012, on the website of ABA Banking Journal, www.ababj.com.]
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