To start functioning at 20 US retailer locations by end of 2012
PayPal’s new payment method, the wallet in the cloud, is being by Office Depot as a part of the latest collaboration between the two companies.
Office Depot North American Unit President Kevin Peters said the new move aims to give the customer the original experience with more efficient technology in making ‘in-store’ purchases.
Home Depot’s Dwaine Kimmet said Home Depot believes PayPal’s solution has the potential to improve the checkout experience as they know it today as it will be made faster and more secure.
By adding to its presence in the traditional stores domain, the company aims to secure at least 2% of in-placed POS.
In the past, PayPal had a provision for online payments for items bought from giant auction site eBay, parent of PayPal.
With the enhanced payment system, PayPal users can now clear the check-out counters of selected retailers in the US.
The users need to key in PINs or swipe their cards on PayPal configured counters of the designated retailers.
As per Reuters, only Home Depot and Office Depot have enrolled for PayPal’s new system unveiled in September last year and is to be deployed by 20 retailers by the end of 2012.