Telecom Lead America: VeriFone Systems has inked a
comprehensive licensing, marketing and implementation agreement with PayPal.
The new agreement will advance PayPal acceptance at large
retailers nationwide. Together, both companies offer retailers the opportunity
to converge e-commerce and retail payments into a new shopping experience for
consumers.
PayPal acceptance will initially be implemented on VeriFone’s
MX Solutions product families popular with large merchants.
VeriFone’s extensive customer base and strong technology
make it a natural ally for PayPal as we continue to deliver on our strategy to
bring intelligent electronic payments and value-added offers to
brick-and-mortar stores,” said Don Kingsborough, VP, Retail and Pre-Paid
Services, PayPal.
The agreement provides PayPal with access to over one
million high volume points of sale.
As participating retailers take advantage of VeriFone’s
software upgrade and services, the company said that shoppers will be able to
utilize the existing spectrum of PayPal payment methods at checkout, including
using a PayPal Access card and PIN or entering a phone number and PIN.
By working to extend PayPal’s reach into traditional
retail, VeriFone is providing retailers with an immediate and simple way to
adopt and manage new payment experiences that consumers are demanding,” said
Jennifer Miles, VeriFone executive vice president, North America.
Initially VeriFone will layer PayPal’s digital wallet”
interfaces and user experience at select merchant locations in the U.S.,
alongside traditional payment forms, spurring consumer demand for this unique
payment experience.
In Long-term, VeriFone said that it will enable PayPal
acceptance natively as part of new services and solution packages offered to
its expansive global retail customer base.
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editor@telecomlead.com