SAN JOSE, Calif., July 30, 2020 /PRNewswire/ -- PayPal
Holdings, Inc. (NASDAQ: PYPL) today 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. The
essential nature of pharmacies makes CVS Pharmacy the perfect
initial partner for PayPal and Venmo QR Codes – and we're proud to
help their customers stay safe while purchasing what they
need."
Using PayPal QR Codes brings the benefits of PayPal wallet into
the store with shoppers – including the ability to pay using stored
debit or credit cards, bank accounts, PayPal balance, or PayPal
Credit. With Venmo QR Codes, customers can pay using their stored
debit or credit cards, bank account, Venmo balance or Venmo
Rewards. Additionally, PayPal does not charge fees to the customer
when paying with the PayPal or Venmo QR codes.
"PayPal and Venmo QR codes offer our customers a secure and
touch-free way to complete their purchase with a payment brand they
know and trust," said Jon Roberts,
Executive Vice President and Chief Operating Officer of CVS
Health. "This reflects our continued focus on innovation and
finding new ways to help maintain the safety of our customers and
employees."
PayPal and Venmo QR codes will roll out to CVS Pharmacies
nationwide in the fourth quarter of 2020.
PayPal Signs Multi-Year Deal with InComm
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. "Working with PayPal to deliver PayPal and Venmo
QR Codes will help our retail partners serve the millions of
consumers who use these innovative payment platforms."
To learn more about paying with or accepting PayPal and Venmo QR
Codes, please visit: http://www.paypal.com/QRCodes
About PayPal
PayPal has remained at the forefront of the digital payment
revolution for more than 20 years. By leveraging technology to make
financial services and commerce more convenient, affordable, and
secure, the PayPal platform is empowering more than 300 million
consumers and merchants in more than 200 markets to join and thrive
in the global economy. For more information,
visit paypal.com.
About CVS Pharmacy
CVS Pharmacy, the retail division
of CVS Health, is America's leading retail pharmacy with
approximately 10,000 locations, including over 1,700 pharmacies
inside of Target and Schnucks grocery stores. We are committed to
delivering innovative health solutions that create a simpler, more
accessible experience for patients, customers and caregivers. CVS
Pharmacy is the only national pharmacy to remove tobacco products
from its shelves, and has taken a leadership role in responding to
the COVID-19 pandemic by making testing available at locations
across the United
States. For the latest product and service
offerings, visit www.cvs.com or download the CVS
Pharmacy app.
About InComm
By building more value into every
transaction through innovative payment technologies, InComm creates
seamless and valuable commerce experiences. InComm's unique
products and services – which range from gift card malls to
enhanced payment platforms – connect companies across a wide range
of industries including retail, healthcare, tolling & transit,
incentives and financial services to an ever-expanding consumer
base. With more than 25 years of experience, over 500,000 points of
distribution, 369 global patents and a presence in more than 30
countries, InComm leads the payments industry from its headquarters
in Atlanta, Ga. Learn more at
www.incomm.com
Contacts
PayPal Investor Relations Contacts
Gabrielle Rabinovitch
grabinovitch@paypal.com
Akila Moorthy
amoorthy@paypal.com
PayPal Media Relations Contact
Tom Hunter
thhunter@paypal.com
CVS Media Relations Contact
Ethan
Slavin
slavine@aetna.com
InComm Media Relations Contact
Nilce Piccinini
npiccinini@incomm.com
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SOURCE PayPal Holdings, Inc.