PayPal is to partner with US card network
Discover, entering into a potential 7 million retail-outlet market
linked with the network from 2013.
The deal will enable the eBay payments
subsidiary to expand its reach further beyond the web and
represents “a major industry milestone” according to Discover
payment services president Diane Offereins.
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PayPal’s vice president of retail Don
Kingsborough said the relationship “will deliver a truly
seamless digital wallet, available most places consumers shop
offline, which offers the speed, simplicity and security already
enjoyed by 113 million active PayPal customers online”.
Offereins said: “[This deal] will help shape
the emerging payments landscape by bringing together an established
direct banking and payments company with a leading commerce enabler
to create an alternative payments option for consumers at the point
of sale.”
The deal marks another step into
the brick and mortar world for PayPal. Last week the company
started a trial programme to test a payment app in 30 French
McDonald’s restaurants. In the UK, PayPal has already entered the
retail landscape with the launch in June 2012 of its PayPal
app, which enables customers to debit purchases made at selected
POS on their PayPal account. A partnership with MasterCard
announced in February 2012 also enables PayPal to launch a prepaid
card.
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By GlobalData
