updated 02:50 pm EST, Mon February 6, 2012
PayPal mission not fazed by CEO departure
Despite the abrupt leaving of its CEO in January, PayPal is unfazed in its mission to make money off in-store payments, AllThingsD learned. Owned by eBay, the outfit had a number of demonstration set-ups of a grocery store, hardware store, and clothing store. In the San Jose area, PayPal has working registers set up in numerous Home Depot locations as part of a pilot program.
The CEO having left is not a big setback to PayPal, according to David Marcus, PayPal's VP of mobile, as its two-year plan was in place before the CEO left. The company will try to convert its 106 million online consumers into physical users thanks to digital wallet services in stores. PayPal will use PIN codes and credit cards along with other tech in its efforts, but initially stay away from NFC in smartphones, as most other companies do.
"Yes, NFC will be useful, and we'll be there, but today we are trying to do more than replace swiping with tapping," said Marcus. He went on to say point-of-sales terminals will be less common in the future.
These could include paying for purchases before even getting to the store, and simply picking them up. PayPal will make money from each transaction, and hopes to sweeten the deal for retailers by offering perks such as loyalty programs, shopping lists, credit options, or coupons.