PayPal's value proposition in online commerce is strong. Embedding the QR code into Honey will help merchants tailor cashback, loyalty and other offers to specific customers.“It’s personalized,” Jonker said.Get our hottest stories delivered to your inbox.Sign up for the PYMNTS.com Newsletter to get updates on top stories and viral hits.And once PayPal handles the integration, “it goes through the traditional settlement process and our consumers can actually pay these large enterprises,” Jonker said.“We’re really focused right now on leveraging the PayPal consumer franchise [to get consumers] back into the SMBs on Main Street.
PayPal offers two primary value propositions: convenience and security. This is also a special quarter for PayPal because it marks our fifth anniversary as an independent publicly traded company. Thus, it gains valuable insights into … Value Proposition. The company’s platform enables consumers and merchants to carry out simple digital and mobile payment transactions through a third party. PayPal Business Debit Mastercard “You still have to do a signature … you still have to put in PIN codes. As PayPal and others innovate behind the scenes, QR codes are giving retail a fighting chance not just to survive the immediate downturn, but to prosper in new directions when it’s over.If QR code commerce has legs — and many think it does, given the pandemic — then Jonker said payments providers need to expand its value proposition beyond safety into loyalty and experience. PayPal just announced an agreement to make CVS the first retailer to integrate QR codes in 8,200 stores across the U.S. You can take it and transact in any context, in any channel.”——————————“[PayPal] accelerated the efforts around QR codes … because our consumers and merchants are demanding and requesting contactless payments, [but] a lot of payment methods today aren’t necessarily contactless,” Jonker said. The PayPal Cash card allows you to cash a check, load cash, do a bank transfer, and direct deposit. As highlighted in the annual report PayPal focuses on trust and simplicity, providing risk management and insights from our two-sided Payments Platform and being technology and platform agnostic. To that end, Schulman says PayPal has been expanding the value proposition of using its services in store.But the platform has struggled to translate that network effect into good value in brick-and-mortar retail.
Jonker said PayPal is integrating its QR solution into ecosystems like InComm rather than asking merchants to take on the task directly, removing existing point of sale infrastructure that can be barrier to enterprise adoption. Two-sided Platform. “We’re working very closely with the traditional networks, the gift-card networks, the terminals the point of sale providers,” he said.
PayPal is a classic example of a two-sided platform. Returns as of 07/31/2020.It's one thing to build the capabilities and network of merchants to support in-store payments; it's another to convince people to actually use it. Despite the relatively rapid growth of e-commerce, physical retail still accounts for the vast majority of store sales. That’s our No. Schulman also wants PayPal users to engage with the service every day. 1 goal and objective right now,” Jonker said.As awareness of QR codes permeates the business community, especially sectors like restaurants, Jonker expects touchless payments to become “an identity play [and] a personalization play. However, I believe the next five years will bring about even greater opportunities. The average PayPal user makes just over 40 transactions per year now, up from about 25 five years ago.If PayPal can figure out how to grow in-store payments, though, the path to 1 billion global users making an average of 365 transactions per year might not be so far off.Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services.Schulman was clear this was merely an aspiration for the company -- not an outlook -- but he thinks it's a good medium-term goal for the company. © 2020 What’s Next Media and AnalyticsAnd CVS is just the beginning. It’s completely unstructured.
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