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October 10, 2013

PayPal to bring QR code-based payments to stores

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PayPal, never one for letting the grass grow under its feet, is bringing its mobile payments service to the offline world. Thanks to their latest offering, physical retailers will be able to accept QR code-based payments from PayPal users.

Set to launch in the first quarter next year, the QR code-based payments system will enable local businesses to rely on their existing (though updated) POS terminals with scanners. Consumers who have a PayPal account will be able to present a QR code on their phone and before you know it, the transaction is completed. Alternatively, PayPal’s app will also be able to generate a four-digit code that can transfer payment information directly to a traditional card terminal.

PayPal said that the new service will also allow merchants to bundle special offers and offer rewards programs, or use existing schemes.

It’s worth noting that PayPal is no stranger to offline services, having already launched a Square-like device for processing credit cards while on the go. This should be good for users who for instance, use PayPal on eBay, to use the QR code system in High St stores.

Via: TheVerge

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Dave Thornton

Senior Editor

Senior Editor
Been involved in technology for many years, more than I care to remember. Live in Dundee, Scotland. I like Android, Windows Phone OS, BlackBerry OS and iOS, and love writing about all things techie. Currently have a Honor 6+, Elephone P6000, Nexus 5, Chrombook C720, HTC One M7, Nokia Lumina 625, Microsoft Lumia 435, Blackberry Q10, HTC Hero and iPad mini