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Thursday, October 19, 2017

PayPal goes mobile with Venmo POS play

PayPal Inc. is launching a mobile assault on the retail POS. The online payments giant just proclaimed that consumers can now use their Venmo accounts to initiate mobile payments at millions of merchant locations where PayPal payments are accepted.

PayPal stated that over 2 million merchants now accept PayPal payments at their checkouts, including big-box merchants like Home Depot and Foot Locker, and over 7 million people use of Venmo, a mobile person-to-person (P2P) payment app especially popular with millennials. In a statement posted on Oct. 17, 2017, PayPal Chief Operating Officer Bill Ready said consumers can now use their mobile devices to initiate Venmo payments "almost everywhere PayPal is accepted."

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