PayPal lines up new partners for its offline payment and shopping solutions
PayPal innovates at scale with new retailers, as the company announced, during an event at its headquarters, 15 new national retailers who are going to bring innovation and flexibility with PayPal’s offline payment and shopping solutions.
The new PayPal partners are 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.
It’s been two months since I was given the opportunity to lead PayPal and I’ve never been more excited about the future of commerce and PayPal’s opportunity to help shape it. From our successful worldwide launch of PayPal Here, to last month’s unveiling of PayPal Payments (our redesigned suite of business products) we’ve gathered incredible momentum. We continue to improve the way businesses conduct and redefine commerce in the modern age by bringing innovation at scale to retailers of all sizes.
David Marcus,
President PayPal
According to Marcus, consumers are relying on technology now more than ever to simplify their lives when it comes to shopping and paying, and retailers must adapt to this shift or risk becoming irrelevant. Innovative retailers everywhere are looking for ways to improve the shopping experience, extend loyalty programs and better engage with their customers and PayPal is making that incredibly easy for them (The Home Depot went from a five store pilot test to a full rollout to their nearly 2,000 locations in just two months).
With PayPal, retailers don’t need to replace their equipment, as PayPal’s solutions work seamlessly with a retailer’s existing point of sale hardware, the integration is simple and the consumer can pay quickly, easily and securely.
PayPal’s offline solutions are more than just a way to pay, as they help merchants connect with consumers at every stage in the shopping cycle. .
Besides the 15 new major retailers that became PayPal’s partners, the company made deals to reach “mid-market” businesses across U.S, most of them already having some form of point-of-sale system in place. PayPal closed deals with innovative point of sale software providers Leapset, ShopKeep, Vend and Erply – working with 50,000 mid-market businesses offline – to help their retailer customers take advantage of the new technologies while integrating into their existing systems.
Also, during the same event, PayPal announced deals with VeriFone and Equinox, No1 and 3 point-of-sale terminal manufacturers worldwide, to integrate PayPal functionality into their payment terminals. They join Ingenico in bringing the entire suite of PayPal payment options to these critical 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.
In every market we’ve entered PayPal has changed the game. We did it for online payments in 1998, creating a business from nothing and building it to one with more than $118 billion in total payment volume last year. We were the first major player to enter the mobile space in 2006 and we plan to exceed $7 billion in mobile payment volume this year. And we’re on track to change the game again in offline payments. 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.
It’s truly an exciting time to be driving change in commerce and payments.
We can’t wait to share what’s next, because there’s a lot more coming!
David Marcus
President PayPal
