as they have done, PayPal accelerates its expansion and does so through two ways: your partnership with ePay Y the acquisition of Paidy, Japan’s leading buy now pay later platform.
PayPal accelerates its offline expansion through its QR code with the help of ePay
In a world in which it is gaining more ground due to the fact that consumers demand the presence of each and every one of the purchase and payment options both online and offline, Internet giants are exploring other means of establishing physical channels. In fact, recently when it was unveiled its new form of physical point of sale intended to increase its offline presence.
From now on, retailers who have implemented the payment integration software of epay, one of the European leaders in prepaid cards, will be able to add the Paypal QR code as a means of payment at the point of sale along with other current payment methods.
With this move, PayPal accelerates its expansion towards offline, while allowing epay to include PayPal among its mobile payment methods, which means attracting its base of 29.1 million active customers in Germany (where the integration is already available) and more than 400 million worldwide.
In addition, epay’s payment solution will significantly reduce the complexity faced by retailers by offering different payment methods at the point of sale, and flexibly respond to customers’ ever-changing demands for payment methods.
general manager of PayPal in Germany, Austria and Switzerland assured that the company is «more than happy to collaborate with epay in Germany, allowing merchants to easily expand their point of sale solutions with our new PayPal QR Code. The expectation of customers to pay in the way they prefer has increased: online and in person. Together with epay, we help merchants offer their customers a wider selection of payment options at the point of sale by integrating PayPal’s contactless QR code.”
This is how the epay point of sale works
Payment with PayPal QR code will be accepted at the point of sale in seconds: if customers want to pay with PayPal, they must open the QR code in the PayPal app on their mobile device and present it for scanning. The cashier will scan the code and the amount to pay will be shown directly in the app.
Customers must then select their preferred payment method, stored in their personal PayPal account, for example credit card or bank account, confirm the payment and immediately both the customer and the cashier will receive a confirmation of the transaction.
PayPal buys Paidy, the Japanese payment platform
PayPal accelerates its expansion in Japan with the acquisition of Paidythe “buy now and pay later” platform of the country of the rising sun in a transaction that is estimated to close for about $2.7 billion (around 2,290 million euros).
Paidy is defined as a payment service that acts as an intermediary between consumers and merchants: Using its artificial intelligence, it determines the creditworthiness of the consumer in relation to a particular purchase, and then underwrites the transaction in seconds, thereby guaranteeing payments to merchants. Once their payment is accepted, consumers can make purchases online and pay Paidy every month through bank transfers or from physical stores.
The transaction is expected to be completed during the fourth quarter of 2021, and following the acquisition, the Japan-based company will continue to operate its business and retain its brand and management.
is the third largest eCommerce marketplace in the worldso this movement is very significant for PayPal to obtain more market share and not only in the country, but in the region, especially dedicated to providing deferred payment services as an alternative to credit cards.
Vice President and Director of PayPal in Japan assured that «Paidy pioneered buy now pay later solutions tailored for the Japanese market and quickly grew to become the leading service, developing a useful platform for consumers and merchants.”
Paidy has more than 6 million registered usersand the plan is to integrate PayPal and other digital wallets with Paidy Link to connect more merchants, both online and offline.
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