|Wed June 27 2012 12:24:21|
Would You Use PayPal's Store Checkout?
By: Julia Wilkinson
A Wall Street analyst's recent "field trip" to Home Depot to check out the new PayPal Store Checkout experience left him underwhelmed about the value consumers would see in paying at a bricks & mortar store this way.
In the field trip, analyst Citi's Mark Mahaney said he found few shoppers using, or even aware of, the offering. One one seller discussion board, eBay sellers wondered what the "value add" of using this checkout system would be, vs. simply using their PayPal debit card or other debit card where they might get a percentage of cash back.
Another worry is that consumers would find inputting 18 numbers (10 digits for the telephone number followed by up to 8 numbers for the PIN) to be tedious, and some sellers said they'd sooner use their smartphone to pay. (Another way to pay with PayPal Store checkout is with the PayPal payment card, a store-only spending card linked directly to their PayPal account).
Another seller thought it could only be good for PayPal, raising awareness of the brand name, and possibly gaining some extra revenue based on sales paid for this way.
One thing I didn't know was that before you can use PayPal at The Home Depot stores, you must activate "Store Checkout" in your PayPal account. There's no charge for using it, and it's available to anyone with a Personal or Premier PayPal account.
Would you use this PayPal Store checkout in a Home Depot, or would you sooner use your PayPal debit card, credit card, or smartphone? Were you aware of the back-end registration you need to do on the PayPal site to use this in-store payment service? Post a comment here!