Wednesday, August 22, 2012
PayPal taking it to the "bricks"
PayPal will now be able to access millions of brick and mortar stores. Under a deal that happened just today, PayPal will issue payment cards to more than 50 million active customers.
This deal was made between PayPal and Discover. Any merchant that currently takes the Discover network will now have increased PayPal customer transactions from their physical shop.
PayPal is also available as a form of payment in other stores outside of just Discover Merchants. Probably due to it's popularity and income potential, as it currently accounts for almost half of San Jose-based EBay's annual revenue. More than 15 brick and mortar retailers, including Home Depot and Office Depot accept PayPal.
Gary Fowler, Analog Solutions