29 August 2016
Find out more

PayPal targets big retailers through VeriFone and Equinox partnerships

24 May 2012  |  6401 views  |  0 PayPal Verifone

PayPal has inked a licensing, marketing and implementation agreement with terminal manufacturers VeriFone and Equinox in a bid to bring its alternative payment methods to America's biggest retailers.

PayPal has been aggressively expanding beyond its traditional e-commerce roots over the last year as the divide between the online and offline worlds merge. Its new PayPal Here offering, turning mobile phones into card readers, has proved a big hit with small merchants but the company also wants to make its mark with larger retailers.

Earlier this year Home Depot agreed to roll out the firm's in-store payment system nationwide following a six-week trial and PayPal aims to strike similar deals by working with VeriFone, which claims 80% of the 200 largest retailers in the US and over one million points of sale.

Initially VeriFone will layer PayPal's "digital wallet" interfaces and user experience at select merchant locations in the US using the MX Solutions products. This means shoppers will be able to use PayPal Access cards to pay for in-store purchases, or enter a mobile phone number and PIN into the terminal.



Long-term, VeriFone will enable PayPal acceptance natively as part of new packages offered to its retail customer base. The system is also future-proofed so that adding new options, such as NFC, will be easy to implement when they become available.

Seperately, Paypal has secured an agreement with Equinox - formerly known as Hypercom - to encode provision for PayPal payments into the POS supplier's next-generation PCI 3.x Certified L5300 and L5200 consumer-facing payment terminals. Equinox terminals ae curently used by the three of the nation's top ten retailes to process payments at the check-out.

PayPal struck a similar deal with Ingenico in January of this year.

Between them, the three terminal manufacturers operate an installed base of about 40 million terminals worldwide.
KeywordsEFTPOS

Comments: (0)

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 forms Japanese JV with Softbank

PayPal forms Japanese JV with Softbank

09 May 2012  |  3897 views  |  0 comments
PayPal Here signs up 200k merchants in weeks

PayPal Here signs up 200k merchants in weeks

04 May 2012  |  11281 views  |  0 comments
PayPal ditches Web label as it makes play for high street transactions

PayPal ditches Web label as it makes play for high street transactions

05 April 2012  |  7950 views  |  0 comments
PayPal names mobile man David Marcus president

PayPal names mobile man David Marcus president

29 March 2012  |  6371 views  |  0 comments
PayPal launches Square rival

PayPal launches Square rival

16 March 2012  |  11453 views  |  4 comments
Home Depot to roll out PayPal in-store payments nationally

Home Depot to roll out PayPal in-store payments nationally

29 February 2012  |  8080 views  |  0 comments
PayPal partners Home Depot to trial POS tech

PayPal partners Home Depot to trial POS tech

09 January 2012  |  8358 views  |  3 comments
PayPal trials mobile NFC payments in Sweden

PayPal trials mobile NFC payments in Sweden

20 December 2011  |  9727 views  |  0 comments
PayPal goes after the high street

PayPal goes after the high street

15 September 2011  |  13605 views  |  1 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit equens.comVisit VocaLink.comVisit www.abe-eba.eu

Top topics

Most viewed Most shared
India's Unified Payments Interface goes live with 21 banksIndia's Unified Payments Interface goes li...
8623 views comments | 22 tweets | 25 linkedin
R3 blockchain consortium sheds light on Concord projectR3 blockchain consortium sheds light on Co...
6561 views comments | 14 tweets | 14 linkedin
Cultural change crucial in digital transformationCultural change crucial in digital transfo...
6222 views comments | 11 tweets | 10 linkedin
Mondo becomes MonzoMondo becomes Monzo
6051 views comments | 14 tweets | 8 linkedin
hands typing furiouslyBlockchain: Some Remarkable Announcements!
5598 views 0 | 5 tweets | 10 linkedin

Featured job

Find your next job