PayPal is done taking baby steps.
The alternative payments provider revealed 15 new national retailers on May 24 that will eventually accept PayPal payments, as well as numerous agreements with terminal makers and point-of-sale software vendors that will significantly increase PayPal's presence as an option in brick-and-mortar stores.
New national retailers that will soon accept PayPal include Abercrombie & Fitch, Advance Auto Parts, Aéropostale, American Eagle Outfitters, Barnes & Noble, Foot Locker, Guitar Center, Jamba Juice, JC Penney, Jos. A. Bank Clothiers, Nine West, Office Depot, Rooms To Go, Tiger Direct and Toys "R" Us, PayPal president David Marcus announced at a press conference at PayPal headquarters in San Jose, Calif.
"We can't wait to launch with these great retailers and help them serve their customers better through PayPal," Marcus said.
PayPal, a unit of eBay Inc., has long provided online payment options, but in the past year has moved into the brick-and-mortar retail realm with a payment card tied to the company's digital wallet. PayPal users can also make purchases by typing their phone number and a PIN at the point of sale.
PayPal has been working for a couple of years to develop payment capabilities at the point of sale, including a prominent pilot with Home Depot.
However, that pilot simply established acceptance of PayPal payments, says Gil Luria, analyst with Los Angeles-based Wedbush Securities. Now, the company needs a way to encourage consumers to use PayPal at the point of sale.
Read the full story at PaymentsSource.com.