PayPal and InComm agree to a partnership for bringing touch-free payments to retailers
PayPal Holdings, Inc. announced that CVS Pharmacy will be the first national retailer to integrate PayPal and Venmo QR code technology in its checkout experience at all of its 8,200 standalone stores across the country. Through PayPal’s 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.
“In the midst of COVID-19, we have seen an incredible acceleration of digital payments and touch-free payments,” said Mark Britto, Executive Vice President and Chief Product Officer, PayPal. “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.” 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 to bring acceptance of PayPal and Venmo QR Codes to retailers across the country. The agreement enables InComm to distribute PayPal QR Code technology through its cloud-based software updates, allowing retailers to quickly and easily integrate the touch-free payment technology into their point-of-sale terminals.
“In order to best serve our merchant partners during this unprecedented time, we have been exploring a wide variety of new and emerging payment technologies that could help them provide payment methods that abide by general social distancing guidelines,” said Stefan Happ, President, InComm.