Fiserv, Inc. (NASDAQ: FISV), a leading global provider of payments and financial services technology solutions, is enabling businesses of all sizes across a range of industries to support in-demand digital payment options and expand their touch-free payment capabilities via a new relationship with PayPal.
Small and mid-sized businesses using Clover® and large enterprises leveraging the Carat omnichannel commerce ecosystem from Fiserv will be able to accept payment via PayPal and Venmo through QR codes presented at the point of sale. Consumers will be able to initiate payment by scanning the QR code with their PayPal or Venmo app, and will receive a digital receipt.
“With consumer preference shifting towards touch-free interactions, it’s critical that businesses are able to connect physical and digital commerce,” said Devin McGranahan, Head of Global Business Solutions at Fiserv. “By enabling consumers to pay digitally via a QR code and popular digital wallets like PayPal and Venmo, businesses are providing added convenience and choice as in-person shopping, dining and entertainment experiences resume.”
Consumers have become comfortable with using a myriad of payment options in their daily lives and an increasing number want to use their preferred payment methods for purchases at the point of sale. The COVID-19 pandemic has also raised awareness of and driven a demand for touch-free payment options.
While many merchants are eager to meet these demands, supporting multiple payment types can be a complex proposition, particularly given rapid changes in the payments space. Connections between industry leaders, which can then streamline the delivery of capabilities to merchants through a single, easily managed platform, address this challenge.
“The impact of Covid-19 on businesses of all sizes – especially small businesses – could not be understated. From shutting their physical doors to investing in omnichannel solutions their customers clamored for, we saw the resiliency in businesses as they navigated the pandemic,” said Frank Keller, Senior Vice President of Commerce at PayPal. “By scaling PayPal and Venmo QR codes across an expansive physical footprint that includes the hundreds of thousands of small entrepreneurs running their business through the Clover platform, we are helping these businesses prepare for an unknown future by enabling touch-free payment technology that also drives customer loyalty, digital engagement and access to new customer segments.”
Touch-free payment capabilities will play a highly visible role as people and businesses get back to a new normal, including the return to sports and entertainment venues.
Fiserv will also enable PayPal and Venmo payments via QR code at venues throughout the United States. The Phoenix Suns Arena, home of the NBA’s Phoenix Suns, will be among the first venues to enable the capability via Bypass point-of-sale software from Fiserv and Clover devices located throughout the arena.
“In today’s increasingly digital and mobile world, Fiserv and PayPal have been superb partners by helping us transform how our fans make purchases at Phoenix Suns Arena,” said Dan Costello, Phoenix Suns Chief Revenue Officer and SVP, Business Innovation. “By offering QR code payments via our new Clover devices, we will be able to continue putting our fans first with innovative and convenient commerce offerings to elevate the game day experience.”