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July 31, 2020

Covid-19: CVS Pharmacy stores to launch contactless payments at stores

CVS Pharmacy is set to roll out contactless payments across all its stores in the US amid Covid-19 crisis.

The company will integrate PayPal and Venmo QR code technology at the checkout, enabling shoppers to make contactless payments for their purchases.

The move follows an agreement between PayPal and InComm to bring touch-free payment options to the retailers.

As agreed, the QR payment technology will be rolled out across CVS Pharmacies in the fourth quarter of this year.

PayPal executive vice-president and chief product officer Mark Britto said: “In the midst of Covid-19, we have seen an incredible acceleration of digital payments and touch-free payments.

“Companies of all types and sizes are looking for ways to maintain the safety of their customers and employees, especially through touch-free experiences like curbside pickup and enhanced online shopping.

“QR codes complement these and provide retailers an additional payment method that furthers this touch-free mission and continues the growth of digital payments for all partners in the ecosystem.”

CVS Health executive vice-president and COO Jon Roberts said: “PayPal and Venmo QR codes offer our customers a secure and touch-free way to complete their purchase with a payment brand they know and trust.

“This reflects our continued focus on innovation and finding new ways to help maintain the safety of our customers and employees.”

Recently, PayPal reported its strongest quarterly performance in the three-month period at ended on 30 June 2020.

The company registered an 86% jump in GAAP net income.

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