PayPal, Venmo Now In-Store POS Payment Options

PayPal is seeing an increase in the number of people using its services as the world goes digital, a company blog noted.

The release says PayPal knows an omnichannel payment strategy is important if businesses are to compete and track customer preferences.

The company says “millions” of small and large businesses use its point-of-sale (POS) services, in addition to merchants taking PayPal Cash Card Mastercard, PayPal Business Debit Mastercard, Venmo Mastercard Debit Card, and the Venmo Visa Credit Card.

According to the release, even small businesses like Speakcheesy, The Bullpen, and Windybush Hay Farms are getting started using the PayPal Zettle POS solution. The company claims this allows them to accept PayPal and Venmo in-store without having to go through a lot of technical tweaks.

PayPal notes that many people, around 71% of respondents in a Forrester study, are more likely to buy and feel good about a brand if they can use a variety of payment options and digital wallets.

And the people using the services are quite young – Millennials and Gen Z make up a large portion of Venmo users.

Finally, travel merchants like United Airlines have started using PayPal QR codes to reach customers, a change from the days when airlines only accepted physical payment cards to buy food or snacks. drinks on a plane.

PYMNTS quoted Nitin Prabhu, vice president of merchant platforms, integrations and developer experience at PayPal, as saying the pandemic’s digital shift has shown what is possible in terms of changes in commerce.

See also: PayPal combines COVID learning with digital transformation to pursue “commerce 2.0”

A focus on omnichannel is likely to be a must, according to the report, with Prabhu adding that e-commerce has become “essential”, with stores opening but customer behavior being permanently altered.

“A lot of times the journey starts online, on their desktop, on their mobile, but can end in-store,” he said. “It’s a challenge.”

He went on to say that merchants cannot just watch the different channels on their own, as this could lead to a “broken” experience. He said traders have to get used to working with many partners at the same time.

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NEW PYMNTS DATA: THE TRUTH ABOUT BNPL AND STORED CARDS – APRIL 2022

On: Shoppers who have store cards use them for 87% of all eligible purchases – but that doesn’t mean retailers should start buy now, pay later (BNPL) options at checkout. The Truth About BNPL and Store Cards, a collaboration between PYMNTS and PayPal, surveys 2,161 consumers to find out why providing both BNPL and Store Cards is key to helping merchants maximize conversion.


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Elaine R. Knight