07 December 2016
Visit aciworldwide.com

PayPal partners Home Depot to trial POS tech

09 January 2012  |  8423 views  |  3 PayPal logo

PayPal has taken another step in its journey to the high street, beginning a pilot of its new point-of-sale technology with US retail giant Home Depot.

The small-scale trial means that a group of PayPal employees can use their PayPal accounts to buy goods at five Home Depot stores.

Participants can either swipe a card connected to their account or enter a code and their phone number into the terminal.

The pilot is a small step in PayPal's ambitions to take on card companies Visa and MasterCard in the high street as the boundaries between online and offline merge.

The company eventually plans to roll out a "one-stop shop" for merchants, covering the whole shopping lifecycle - 'acquisition', 'conversation' and 'retention'.

Says Anuj Nayar, director, communications, PayPal, in a blog post: "Stay tuned throughout the year as we continue to re-imagine money and make it work better for merchants and consumers - whatever device you're on, wherever you are in the world, and however you prefer to pay."

Comments: (3)

A Finextra member
A Finextra member | 09 January, 2012, 11:12

I prefer to pay using chip and PIN.

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Pat Carroll
Pat Carroll - ValidSoft - London | 11 January, 2012, 10:43

As the first comment against this article shows, security is a real concern for end-users, and I’d say PayPal needs to be very mindful not to let any perceived weaknesses in this area have a detrimental effect on either the trial or future uptake of the system. The US may not use Chip and PIN, but users in the Europe who are used to the system may not feel entirely confident in the security measures briefly mentioned above.

What we’re seeing is a move towards a multi-layered approach to security, which in this case – at POS – could involve using a technology called Proximity Correlation Logic. This works by checking the proximity of the POS, where someone is making the transaction, to the card holder’s mobile phone. It’s not about tracking users to see where they are; rather it’s just about detecting that if the POS and the phone are NOT in the same jurisdiction, there is a much increased chance that the transaction is fraudulent. This can be done in complete compliance with European Data Protection Law, so privacy should not be a concern.

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
A Finextra member
A Finextra member | 11 January, 2012, 12:23

As I said, we in the developed world are now used to making secure payments at POS, whether or not we understand why that is the case.  Why would we want to take the backward step that would inevitably result from adopting US payment technologies?

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

PayPal president Thompson quits for Yahoo

PayPal president Thompson quits for Yahoo

04 January 2012  |  5645 views  |  0 comments
PayPal trials mobile NFC payments in Sweden

PayPal trials mobile NFC payments in Sweden

20 December 2011  |  9824 views  |  0 comments
Consumers prefer PayPal over credit cards for online shopping - KPMG

Consumers prefer PayPal over credit cards for online shopping - KPMG

05 December 2011  |  20220 views  |  3 comments | 2 tweets | 5 linkedin
Starbucks and PayPal report surge in mobile payments

Starbucks and PayPal report surge in mobile payments

04 November 2011  |  10547 views  |  0 comments
PayPal aims to become your digital ID; unveils new bank, vendor, currency partnerships

PayPal aims to become your digital ID; unveils new bank, vendor, currency partnerships

12 October 2011  |  12803 views  |  0 comments | 1 tweets
PayPal to open pop-up store in Manhattan

PayPal to open pop-up store in Manhattan

04 October 2011  |  6855 views  |  0 comments
PayPal goes after the high street

PayPal goes after the high street

15 September 2011  |  13717 views  |  1 comments
Paypal calls time on physical wallet

Paypal calls time on physical wallet

30 June 2011  |  11610 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Find out morehttp://www.financialcrimerisk.fiserv.com/aml?r=finextraVisit contisgroup.com

Who is commenting?

A Finextra member Finextra Member Commented on: Payments regulator blo...
A Finextra member Finextra Member Commented on: Payments regulator blo...

Top topics

Most viewed Most shared
Guesswork alone can crack Visa card security - Newcastle UniversityGuesswork alone can crack Visa card securi...
7412 views 12 comments | 15 tweets | 26 linkedin
OCC to offer fintech firms bank charter statusOCC to offer fintech firms bank charter st...
6813 views comments | 25 tweets | 15 linkedin
China tops world fintech rankingsChina tops world fintech rankings
6585 views comments | 34 tweets | 30 linkedin
Fed Governor sounds warning on alternative credit scoring dataFed Governor sounds warning on alternative...
6004 views comments | 16 tweets | 18 linkedin
Big tech policy group calls on Trump to promote fintech innovationBig tech policy group calls on Trump to pr...
5628 views comments | 22 tweets | 11 linkedin

Featured job

Find your next job