updated 04:45 pm EST, Mon January 14, 2013
Two more store announcements expected shortly
Despite slightly missing its goal of 20 major retail partners accepting its in-store payment platform by the end of 2012, Paypal has made good on its promise just weeks after the start of the new year. In an update made by the payment processor today, PayPal has boosted its major chain acceptance list to 21, adding Home Depot, Guitar Center, Barnes & Noble, and JC Penney. PayPal claims to have two more partner companies able to accept the program soon.
Taking a shot at Google, PayPal's Vice President of Retail Services Don Kingsborough said in a blog post that "some of the competition has stumbled with alternative technology offerings that don't address true customer pain points -- they have created technology, just for technology's sake."
The system does not use Near Field Communication (NFC) like the Google Wallet system does. A user enters a registered mobile phone number at the point of sale, and provides the unique PIN code for the account much the same way that a debit card works. Generally, returns made funded by PayPal will be refunded using store credit.
Companies that use the system are Abercrombie & Fitch, Advance Auto Parts, Aéropostale, American Eagle Outfitters, Barnes & Noble, Dollar General, Famous Footwear, Foot Locker, Guitar Center, Home Depot, Jamba Juice, JC Penney, Jos. A. Bank, Mapco Express, Nine West, Office Depot, RadioShack, Rooms To Go, Spartan Stores, Tiger Direct, and Toys 'R Us.