PayPal to Introduce QR Code Touch-Free Payment Technology in CVS Pharmacy Stores
July 30 2020 - 9:08AM
Dow Jones News
By Michael Dabaie
PayPal Holdings Inc. said CVS Pharmacy will be the first
national retailer to integrate PayPal and Venmo QR code technology
into checkout at all of its standalone stores across the U.S.
PayPal said that through its partnership with payments
technology company InComm, shoppers will be able to securely pay
for their items without needing to touch a keypad or sign a
receipt.
PayPal shares were up 6.6% to $196.76 in early trading.
Using PayPal QR Codes allows shoppers to pay using stored debit
or credit cards, bank accounts, PayPal balance, or PayPal Credit.
PayPal and Venmo QR codes will roll out to CVS Pharmacies
nationwide in the fourth quarter of 2020.
The integration with CVS Pharmacy is the first of a multi-year
agreement between PayPal and InComm. InComm will distribute PayPal
QR Code technology through its cloud-based software updates,
allowing retailers to integrate the touch-free payment technology
into their point-of-sale terminals.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
July 30, 2020 09:53 ET (13:53 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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