NCR, PayPal Team Up to Take on Square

By: Umair Yousuf  |   January 24th, 2013   |   Business, Mobile Apps

PayPal in its bid to become a One True Payment Service has now teamed up with Point of Sale (PoS) solutions provider NCR to get itself into the lucrative mobile phone payments market. Both companies recently announced their partnership which will see them compete with Square.

 

According to arrangements of the new deal, PayPal will have its payments offerings integrated with NCR’s mobile applications for retailers and restaurants with the early stage seeing PayPal providing a check out option on NCR’s Mobile Pay App.

 

The deal is a huge development for PayPal with the company now having access to NCR’s 100,000 self-checkout kiosks at retail outlets across the United States as well as NCR’s massive partnerships with restaurants where NCR powers payments for 38% of the top 100 restaurants operating in the country.

 

Through the deal NCR will add its own marketing services within the PayPal application giving customers access to discounts and deals when a customer checks into a store.

 

NCR’s chief technology officer and executive vice president John Bruno said about the change taking place in the retail environment:

 

“That whole closed loop from promotion to actually closing a transaction has really rendered point of sale dead, because there’s really no point of sale any longer — they’re all multiple points of service which starts from the time you’re browsing the web, to the time you’re near a store, to the time the purchase is complete.”

 

Both companies are set to benefit from their mutual cooperation with PayPal set to reap the biggest benefits with more customers as well as payment processing.

 

Source: Venture Beat