epay, the virtual payments division of Fintech solutions and payments provider Euronet Worldwide, Inc. (NASDAQ:EEFT), recently revealed that it has completed the integration of the PayPal QR Code in their point-of-sale (POS) solution.
The new solution is now live in Germany and will be offered in other markets in the foreseeable future, according to a release. With this option, the full-service payment provider will be extending its portfolio of mobile payment methods for brick-and-mortar retailers. It will give retail partners access to a potential client base of around 29.1 million active PayPal clients residing in Germany and 400 million+ active customers globally.
Retailers who have added epay’s checkout integration software are able to use PayPal’s QR Code at the point of sale alongside various other payment options via a single source. The epay service reduces the overall complexity that retailers have to deal with when providing multiple payment options at the point of sale. Retailers are able to respond effectively to changing client requirements in payment methods.
Jörg Kablitz, MD PayPal Germany, Austria, and Switzerland, stated:
“We are more than happy to collaborate with epay in Germany enabling merchants to easily expand their point-of-sale solutions with our new PayPal QR Code. The expectation of customers to pay the way they prefer has increased – online and in person. Together with epay, we help merchants offering their customers a wider choice of payment options at the point of sale by integrating the contactless PayPal QR Code.”
Stephan Heintz, Director DACH epay, remarked:
“We have great faith in the success of QR code and barcode-based payment methods, as they are very convenient and secure for consumers. The PayPal partnership is an important step for us. It helps us expand our payment diversity and positions epay as an aggregator and concentrator of all payment types, as well as a provider of value-added services of today and tomorrow for retailers.”
If clients want to make payments with PayPal, then they can open the QR code in the PayPal app on their mobile phone and present it for scanning purposes. The cashier then proceeds to scan the code and the amount to be paid is displayed via the app.
Next, clients choose their preferred payment option stored in their PayPal account – for instance, bank account or credit card – and confirm the payment on their phone. Customer and cashier then receive a confirmation of the transaction.
Retail partners who may be interested in finding out more about the PayPal QR Code may check here.
As mentioned in the release, epay is a full-service payment provider for handling payment processing and prepaid services that processed 2.4 billion transactions last year.
The firm has built up “an extensive network of retailers with 748,000 point-of-sale terminals in 60 countries, to connect renowned brands with consumers all around the world.” The company offers “a portfolio of gift cards (prepaid, closed loop and digital media), business incentives and payment solutions (card acceptance, terminals, e-commerce, mobile and Internet of Payment) for omnichannel commerce, and offers its services thanks to its proprietary cash register integration software.”
epay is a unit of Euronet Worldwide, Inc., a Kansas-headquartered firm which “earned $2.5 billion in revenue in 2020, employing a staff of over 8,000 employees and serving customers in 175 countries.”
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