VeriFone and PayPal sign pact to expand services to large retailers

Licensing, marketing and implementation agreement

Electronic payment provider Verifone is entering into a licensing, marketing and implementation agreement with PayPal for the expansion of PayPal services to larger retailers (view press release). The agreement is to see large retailers accept and integrate PayPal payments services as another form of payment for their customers. With the agreement, Verifone will integrate PayPal’s “digital wallet” interfaces and user experience at certain merchant locations in the U.S., along with other traditional forms of payments. PayPal’s digital wallet will initially be integrated with VeriFone’s MX Solutions product range. Verifone will then enable PayPal acceptance natively as part of new services and solution packages offered to its global retail customer base. With the integration, customers will be able to access PayPal payment methods at checkout, including using a PayPal Access card and PIN or entering a phone number and PIN.

“Retailers who take advantage of the extensions to VeriFone’s platforms will be able to offer their customers a rich environment that integrates the virtual and physical retail worlds,” explains Jennifer Miles, VeriFone executive VP, North America. “By working to extend PayPal’s reach into traditional retail, VeriFone is providing retailers with an immediate and simple way to adopt and manage new payment experiences that consumers are demanding.”

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