According to Chain Store Age, the company will offer the contactless payment method at all of its 8,200 standalone stores across the country. Moreover, thanks to PayPal’s partnership with payments technology company InComm, shoppers will be enabled to pay for their items without the need to touch a keypad or sign a receipt, in a secure environment.
Furthermore, by using PayPal QR codes, customers can benefit from PayPal’s wallet features in CVS stores, including the ability to pay by using stored debit or credit cards, bank accounts, PayPal balance, or PayPal credit. Besides, With Venmo QR codes, customers are allowed to pay by using their Venmo balance, or Venmo rewards. Additionally, if customers use PayPal or Venmo QR codes as payment methods, PayPal will not charge them any fees.
Overall, CVS Pharmacy will launch the PayPal and Venmo QR codes options to stores nationwide in the fourth quarter of 2020. In addition, the integration with CVS Pharmacy is part of a multi-year agreement between PayPal and InComm to bring acceptance of PayPal and Venmo QR codes to retailers across the country.
The agreement allows InComm to distribute PayPal’s QR code technology through its cloud-based software updates, enabling retailers to integrate the touch-free payment technology into their POS terminals, Chain Store Age stated.