PayPal to Launch Barcode-based Payment
No one can argue that PayPal is a great service, but most brick and mortar stores do not accept it, and it can take a few days to transfer funds to your bank account. Now, PayPal is preparing to roll out its first barcode-based payment system in the UK. Starting out at four major retailers, consumers will be able to use a PayPal InStore app.
The app will be available for iOS and Android smartphones and will allow customers to pay by generating a barcode and transaction number that can be scanned by employees. From there, the money is instantly deducted from the customers’ PayPal account and a receipt is sent to them via e-mail. In addition to cashless purchasing, the app offers the ability to apply discounts, as well as return goods purchased online.
This isn’t the first time PayPal has tried cashless purchasing, they’ve also tried QR code payments and even NFC payments. Like PayPal’s other trials, the barcode-based payment system is just a trial in the UK, and it’s not certain they will settle on barcodes or other technologies.
Depending on which technology PayPal chooses, and how quick they are to launch on a more international level, PayPal could end up becoming a major player in cashless purchasing. Since so many people already have PayPal, it would be easier to adopt than say, Google Wallet, especially if they went with a non-NFC based option.