PayPal announced an extension of its offline strategy by teaming up with Discover to bring PayPal to more than 7 million merchant locations across the U.S., and potentially to millions of international merchant locations in the future. Starting in 2013, Discover will work with PayPal to enable participating merchants to accept PayPal easily through their existing relationship with Discover. Consumers will be able to take advantage of the benefits of PayPal at these merchant locations, providing them with the simplicity, speed and security they've come to expect from PayPal across any channel, any time.
"We're delighted to enable PayPal's efforts to provide their U.S. customers acceptance at millions of physical point-of-sale locations by leveraging our unique payment services assets. The establishment of this relationship is a major industry milestone, which will help shape the emerging payments landscape by bringing together an established direct banking and payments company with a leading commerce enabler to create an alternative payments option for consumers at the point of sale," said Diane Offereins, President of Discover Payment Services. "This initiative will result in real change and innovation for the industry by bringing new technologies to the point of sale that benefit merchants and PayPal customers."
"We couldn't be more thrilled to work with Discover. This relationship quickly extends PayPal's reach to millions of merchant locations nationwide and is a milestone moment for us that will create new benefits for Discover merchants without requiring new hardware or software," said Don Kingsborough, PayPal's Vice President of Retail. "This relationship will deliver a truly seamless digital wallet, available most places consumers shop offline, which offers the speed, simplicity and security already enjoyed by 113 million active PayPal customers online."
Starting in 2013, participating merchants will be enabled to accept PayPal easily through their relationship with Discover. To offer PayPal, merchants will not have to install or upgrade existing point-of-sale hardware or software and consumers will know of this additional payments option through in-store signage. As a leader in online payments, PayPal expects to bring brick-and-mortar merchants more shoppers in store and to extend convenience and utility for consumers through innovative mobile payment solutions. Additionally, PayPal's 50+ million active U.S. customers are expected to help increase customer engagement, loyalty and incremental sales at the physical point of sale.
eBay will host a conference call to discuss the announcement and answer questions at 7:00 a.m. Pacific Time today. A live webcast of the conference call can be accessed through the company's Investor Relations website at https://investor.ebayinc.com. In addition, an archive of the webcast will be accessible for 90 days through the same link.
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