While PayPal (News - Alert) has been a dominant force in online payments, it hasn’t registered as a blip on the screen for traditional retailers – but that is soon to change.
Capitalizing on the fact that no one likes waiting in line, PayPal will begin to implement tools for in-store payments, according to news reports.
PayPal this week hosted a partner event for retailers to explain how the online payment company will be able to implement tools for in-store payments, Gigaom reported.
“The big reveal will happen next month at PayPal’s developer conference in San Francisco, but the company showed a glimpse of how it’s marshaling its resources. It’s important for PayPal to step up with a compelling offering because the mobile payments market is getting crowded with options like Square, Google (News - Alert) Wallet and upcoming services like Isis from the cellular carriers and digital wallets from credit card companies,” Gigaom said.
PayPal also hinted in a developers blog post that big news will break at its Oct. 12-13 conference: “Social commerce is one of the four mega trends that’s redefining the way people buy and sell goods and services. So when we began planning the X.commerce Innovate Developer Conference, in San Francisco Oct. 12-13, we wanted to make sure we were not just talking about the trend, but embodying it in our actions.”
President of PayPal Scott Thompson said in a Sept. 14 blog post that the San Jose, Calif.-based company is looking to be a “one-stop shop” for merchants to help them address every part of the shopping lifecycle.
“PayPal is re-imagining money and making it work better for merchants and consumers – whatever device you’re on, wherever you are in the world, and however you prefer to pay (whether that’s cash, credit, or installments),” Thompson said in the post. “…The fact is you’ve got to have more than just a shiny new technology to really change the way people shop and pay. We all know that shopping is fun but paying is not. Nobody likes to stand in line. Nobody likes waiting for their bill at the restaurant. At PayPal, we want to free you from the cash register.”
Sounds good to us.
PayPal, which is owned by eBay (News - Alert), has 100 million active accounts in 190 markets and 25 currencies around the world, according to figures on PayPal’s website.
Erin Harrison is Executive Editor, Strategic Initiatives, for TMC, where she oversees the company's strategic editorial initiatives, including the launch of several new print and online initiatives. She plays an active role in the print publications and TMCnet, covering IP communications, information technology and other related topics. To read more of Erin's articles, please visit her columnist page.
Edited by Jennifer Russell