By Michael Dabaie

 

PayPal Holdings Inc. said CVS Pharmacy will be the first national retailer to integrate PayPal and Venmo QR code technology into checkout at all of its standalone stores across the U.S.

PayPal said that through its partnership with payments technology company InComm, shoppers will be able to securely pay for their items without needing to touch a keypad or sign a receipt.

PayPal shares were up 6.6% to $196.76 in early trading.

Using PayPal QR Codes allows shoppers to pay using stored debit or credit cards, bank accounts, PayPal balance, or PayPal Credit. PayPal and Venmo QR codes will roll out to CVS Pharmacies nationwide in the fourth quarter of 2020.

The integration with CVS Pharmacy is the first of a multi-year agreement between PayPal and InComm. InComm will distribute PayPal QR Code technology through its cloud-based software updates, allowing retailers to integrate the touch-free payment technology into their point-of-sale terminals.

 

Write to Michael Dabaie at michael.dabaie@wsj.com

 

(END) Dow Jones Newswires

July 30, 2020 09:53 ET (13:53 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
PayPal (NASDAQ:PYPL)
Historical Stock Chart
From Feb 2024 to Mar 2024 Click Here for more PayPal Charts.
PayPal (NASDAQ:PYPL)
Historical Stock Chart
From Mar 2023 to Mar 2024 Click Here for more PayPal Charts.