PayPal keeps working on bringing its mobile payments service to the offline world. Thanks to their latest gig, physical retailers will be able to accept QR code-based payments from PayPal users.
Set to launch in the first quarter next year, the system will enable local businesses to rely on their existing (though updated) POS terminals with scanners. Consumers on their end will present a QR code on their phone and before you know it, the transaction is completed. Alternatively, PayPal’s app will also be able to generate a four-digit code that can transfer payment information directly to a traditional card terminal.
PayPal said that the new service will also allow merchants to bundle special offers and offer rewards programs, or use existing schemes.
It’s worth noting that PayPal is no stranger to offline services, having already launched a Square-like device for processing credit cards while on the go. We’ll see whether this new offering will help it gain popularity among the mainstream users…
[Via: TheVerge]