PayPals big announcement on Thursday including unveiling the names of the 15 national retail partners that will support its in-store payment system. PayPal is looking to compete with other payment tools like Google Wallet. However, it will have an advantage over Google because PayPals payment system does not require a NFC reader, which must be installed by the retailer. PayPal also announced that it has worked out a deal with several point of sale software providers who work with more than 50,000 mid market businesses.
PayPals new retail partners include Abercrombie & Fitch, Barnes & Noble, Nine West, and Toys R Us among others. PayPal previously announced that it was working with Home Depot, its first big box seller.
Consumers may be wary of another form of payment, and PayPal will have to work hard to convince consumers the value of their new payment system. However, there are a few perks that include personalized offers, loyalty rewards, and payment flexibility.