The Wall Street Journal reports that eBay-owned PayPal, the online payment service, is expanding a pilot program begun with Home Depot that creates a mobile wallet that allows shoppers to pay for purchases using their PayPal accounts instead of credit cards.
According to the story, the in-store PayPal system will be rolled out chain-wide at Home Depot, and should be available in all 2,000 of its US stores by the end of March.
The Journal notes that “beyond Home Depot, PayPal is expected to be available at about 20 different retailers by the end of this year. PayPal has also been testing its brick and mortar service at Office Depot Inc.”
The story says that PayPal has become eBay’s fastest growing business, and that the move into brick-and-mortar stores is a way for the company to accelerate its growth even more.
According to the story, the in-store PayPal system will be rolled out chain-wide at Home Depot, and should be available in all 2,000 of its US stores by the end of March.
The Journal notes that “beyond Home Depot, PayPal is expected to be available at about 20 different retailers by the end of this year. PayPal has also been testing its brick and mortar service at Office Depot Inc.”
The story says that PayPal has become eBay’s fastest growing business, and that the move into brick-and-mortar stores is a way for the company to accelerate its growth even more.
- KC's View:
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My position all along has been that we’re going to see a lot of new and interesting competitors to traditional credit card companies, which have gotten nothing but deservedly lousy press in recent months. Their image problem will prove, I think, to be a real stimulant to people and companies looking to create profitable and convenient alternatives.
