New app feature enables secure physical payments in social distancing society.
Amsterdam, May 19, 2020 - PayPal Holdings, Inc. (NASDAQ: PYPL) introduces QR-codes for buyers and sellers. With the new feature in the PayPal app, they can make physical, contactless payments using a safe and easy way. The QR-code offers a solution in the social distancing society because physical contact can be avoided. The feature is now available in 28 countries.
"In these challenging times, health is paramount and that is why we are happy to facilitate a payment method that is in line with this. Since the COVID-19 outbreak, consumer spending has increased and we see an increase in the demand for digital payments in face-to-face situations", said John Kunze, Senior Vice President Branded Experiences at PayPal. "The QR-code not only allows buyers and sellers to make secure and convenient payments, but also helps them comply with social distance measures."
Sellers can take advantage of the service by printing a QR-code generated by PayPal and then having it scanned by the customer. The payment process consists of a number of easy steps: the customer clicks "Scan" in the PayPal app, then scans the QR-code, fills in an amount and pays. There is no interaction between buyers and sellers: simply scanning a printed QR-code with a smartphone camera is enough.
The app function can be used for a variety of sales purposes: from boutiques and market stalls to the sale of second-hand products. Merchants can create a QR-code generated by PayPal for an unlimited number of transactions through these steps. In order to accommodate merchants during this special period, PayPal will not charge any transaction fees for QR-code payments in the coming months. Buyers will never be charged a transaction fee when using the feature.
"COVID-19 changed our way of shopping. The need for safety and convenience still prevails, but now in a society in which we live at a distance from one another. Digital payments, such as these QR-codes, provide Dutch buyers and sellers with the means to pay and get paid during the crisis and in the future", said Joachim Goyvaerts, General Manager of PayPal Benelux and Ireland.
The new feature will be introduced worldwide in the markets: Australia, Austria, Belgium, Canada, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hong Kong, Hungary, Ireland, Italy, Japan, Latvia, Luxembourg, Malta , Netherlands, Portugal, Slovenia, Slovakia, Sweden, Switzerland, Spain, England and the United States.
More information about the PayPal QR-code can be found here.
PayPal has been the leader of the digital payment revolution for over 20 years. By leveraging technology to make financial services and trading more convenient, affordable and secure, the PayPal platform enables more than 305 million consumers and traders in more than 200 markets to join and thrive in the global economy. For more information, visit paypal.com.
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