PayPal targets offline customers
Payments provider outlines new cross-channel strategy
PayPal has set out its new strategy which involves increasing offline activity in addition adding new payment technologies such as mobile payments, barcode scanning in mobile devices, and location-based offers.
Scott Thompson, president of the eBay owned e-payment brand, announced the strategy in a blog. Thompson said that the new payment technologies for businesses will help give its customers a much better shopping and buying experience through PayPal.
“And let’s be clear about something – we’re not just shoving a credit card on a phone,” he added.
Thompson said that PayPal is “re-imagining money” and making it work better for merchants and consumers, irrespective of the kind of device, the place and the mode of payment – whether cash, credit, or installments.
PayPal demonstrated its new physical point-of-sale system to merchants at an event in Los Angeles on September 14. PayPal users will be given a physical PayPal card that they can use to purchase products in stores. The card can be swiped on existing card machines, so that merchants will not have to install new hardware or payment systems in their stores. PayPal users will also be able to make purchases by entering their mobile phone number at merchant terminals, or by passing their phones near terminals, said Sam Shrauger, VP of global product and experience at PayPal.
PayPal has a dominant position in online payments, but is trying to expand into offline payments which represents a much bigger market. eBay CEO John Donahoe had referred to the new POS technology during the company’s last earnings conference call.