PayPal is working to enhance its presence in in-person payments through a global partnership with Verifone.
This collaboration will provide enterprise merchants with an omnichannel solution that integrates Verifone’s hardware with PayPal’s enterprise payment processing and e-commerce capabilities, known as Braintree. The focus will be on various sectors, including large retail, grocery, quick-service restaurants, ticketing, entertainment, consumer electronics, and apparel.
“This partnership marks a major shift in how PayPal is approaching the omnichannel enterprise opportunity,” stated Alex Chriss, President and CEO of PayPal. He added, “In collaboration with Verifone, we are unlocking a new path to mass adoption of in-person payments, which will allow us to scale quickly and bring the full power of PayPal to the global merchant community.”
This offering will be part of the newly launched PayPal Open merchant platform, which enables merchants of all sizes to access the complete PayPal ecosystem. It is set to debut in the US soon, with plans to expand to the UK and Germany later in the year.