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Retail

Discover and PayPal Team for Brick-and-Mortar Store Payments (DFS, EBAY)

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By Jon C. Ogg Published
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“Can I just PayPal that?” is a question you do not hear too often inside of retail stores, where credit cards have ruled over cash for about two decades. That is about to change as Discover Financial Services (NYSE: DFS) has teamed up with eBay Inc. (NASDAQ: EBAY) for PayPal’s more than 50 million customers to be able to pay with PayPal in millions of merchant locations starting in 2013.

The move is said to be an extension of PayPal’s offline strategy, and this brings PayPal to more than 7 million merchant locations across the United States. It is also said to potentially bring millions of international merchant locations in the future.

Today’s press release said:

Starting in 2013, Discover will work with PayPal to enable participating merchants to accept PayPal easily through their existing relationship with Discover. Consumers will be able to take advantage of the benefits of PayPal at these merchant locations, providing them with the simplicity, speed and security they’ve come to expect from PayPal across any channel, any time.

Participating merchants will be able to accept PayPal easily through their relationship with Discover, and the merchants will not have to install or upgrade existing point-of-sale hardware or software. Consumers will become aware of this PayPal payment option from in-store signage.

One more effort from eBay and PayPal to live outside of just the Internet.

JON C. OGG

Contact [email protected] for any questions or corrections.

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About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

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