PayPal to Unveil Newest Retail Partners for In-Store Payments Next Week
PayPal is hosting a media event next week where it will unveil the next batch of mega-retailers that are adopting the company’s online payment network at the register.
In an invitation sent to All Things D, the company says: “Meet PayPal’s new president, David Marcus; be the first to speak to PayPal’s new, brand-name retail partners; and get an exclusive sneak peek at how PayPal plans to make payments easier than ever for tens of thousands of mid-size merchants.”
The two-and-a-half-hour event will take place on Thursday at the company’s San Jose campus.
It’s unclear which retailers will be on hand, but so far, the company has been working with major retailers, like Home Depot, and there have been other unconfirmed reports of a relationship with Office Depot.
To date, eBay’s CEO John Donahoe has been careful to characterize this year as an experimental period, where the company will be laying the groundwork for its entrance into the physical payments space with several deployments. It is not banking on scaling the operation until the following year.
Right now, PayPal has presented two solutions to retailers, including a plastic credit card that allows purchases to be charged to a PayPal account and a mobile payments solution, which allows customers to enter their mobile phone number and a PIN into the payment terminal without the need for the phone to be present at the time of purchase.
The approach is much different than what Google Wallet is pitching, which ironically launched its product exactly a year ago next week. Google’s deployments, which relied on near field communication technology, have been hindered by low adoption by both retailers and the carriers.