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PayPal intros payment by QR code

Written by James Delahunty (Google+) @ 10 Oct 2013 3:37 User comments (2)

PayPal intros payment by QR code PayPal is to introduce a new feature that enables customers to pay for goods and services using a QR code or a PIN.
It works by using your smartphone with the PayPal app which allows you to enter a PIN or shows a QR code that a merchant can scan.

For the consumer, the benefits beyond the payment convenience include the ability to automatically redeem any special offers, gift cards, merchant rewards programs or other forms of payment that might be saved in their PayPal wallet in one quick transaction.

For merchants, the benefit is the ability to accept the digital transactions without the need to switch to new technology. Utilizing the millions of 2D barcode scanners already sitting on store counters and 40+ million payment terminals available around the world, this offers an easy way to give customers the benefits without investing in new technology.

If the merchant already has a mobile app, they can also integrate PayPal's new 'payment code' into the app for full support.

More details will be made available on this new system before its roll-out in Q1, 2014.

Tags: PayPal
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2 user comments

110.10.2013 15:19

cool

215.10.2013 13:39

Recently the reserve bank of India - equivalent to Federal Reserve - directed all the credit card issuers to andd a security feature that requires a six digit code to be punched in at the card swiping terminal. So even if the card is stolen/lost using it would be next to impossible.

Would this PayPal app on smartphone have a similar feature to prevent misuse in the event of theft/loss of the phone?

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