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EcommerceBytes-NewsFlash, Number 2811 - May 24, 2012 - ISSN 1539-5065    2 of 3

PayPal Is Coming to a Cash Register Near You

By Ina Steiner
EcommerceBytes.com
May 24, 2012




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PayPal signed deals with VeriFone Systems and Equinox Payments, companies that provide payment terminals at brick-and-mortar retail stores. The deals mean that retailers who use the terminals can offer PayPal to customers when they pay at the cash register.

PayPal signed a similar deal with Ingenico in January.

PayPal is also doing deals directly with retailers to bring its payment service to point-of-sale - this year home-improvement chain The Home Depot deployed PayPal to its thousands of U.S. stores. PayPal is holding a press conference this morning in which it is expected to announce similar deals with several other retailers.

According to this morning's announcements, three of the top 10 U.S. retailers use Equinox terminals. And VeriFone said its customer base encompasses 80% of the top 200 largest retailers in the U.S., or "over one million high volume points of sale."

Why are retail chains interested in PayPal? In an interview with EcommerceBytes in March, The Home Depot spokesperson Steve Holmes said PayPal offered a lower transaction cost compared to traditional networks, as well as speed and convenience.

About the author:

Ina Steiner is co-founder and Editor of EcommerceBytes and has been reporting on ecommerce since 1999. She's a widely cited authority on marketplace selling and is author of "Turn eBay Data Into Dollars" (McGraw-Hill 2006). Her blog was featured in the book, "Blogging Heroes" (Wiley 2008). Follow her on Twitter at @ecommercebytes and send news tips to ina@ecommercebytes.com.

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