Paypal It is ready to revolutionize payments in physical stores with the launch of a new plan throughout Europe. The new system provides for the introduction of the Contactless payment via smartphone, integrated directly into the PayPal app.
For years, Paypal has been among the most popular solutions for online purchases, appreciated for the possibility of making transactions without sharing the data of your card with each site and for the payment service in three installments at zero rate, increasingly popular also in Italy.
When it arrives in Italy
There are still no precise dates, but in a few weeks the first Mobile Contactless Paypal portfolio will be launched nationally, officially debuting in Germany and Europe. It will be available through the latest version of the PayPal app for devices Android And iOS and will allow users to pay quickly and safely anywhere that supports contactless payments with circuit MasterCard. For the first time, the app will offer a complete overview of online expenses and offline in a single interface.
Joerg KablitzManaging Director of Paypal Germany, Austria and Switzerland, commented on the novelty:
“As technology is advanced, the advantages of digital payments in stores are becoming increasingly difficult to ignore. The cash has an important role, but we know that many consumers and companies are ready for innovative alternatives. In a few words, we believe that Paypal is better than cash. Our app will make it easy and safe to pay with the phone in the stores; it will offer greater choice on how and when to pay; and even better, Paypal will help Money in your pocket ”.
According to what Kablitz declared, this is the largest investment ever made by Paypal in the development of solutions dedicated to customers in Germany. The launch is expected shortly and, if the experiment is successful, the service is likely to be extended to Other European marketsincluding Italy.
How the new service will work
Although the official details are still limited, the functioning of the new PayPal service in physical stores will be similar to that already offered by Google Pay, Apple Pay and Samsung Pay. Using the NFC chip Integrated in the smartphone, users will be able to make payments to the POS with their PayPal account, thus transforming the phone into a real digital portfolio.
As already mentioned, the transactions will pass through the Mastercard circuit, guaranteeing a wide acceptance of the service at any operator qualified for contactless payments. In addition to the ease of use, users will also have the opportunity to divide the amount into comfortable installments: 3, 6, 12 or 24 months, with a simplified and excessive bureaucracy procedure. While the payment in 3 installments should remain without interest, as already happens for online purchases, the longest options could provide for the application of a rate. A move that could greatly change the habits of the Italians, who already now with Paypal and Klarna, are using the installments enormously.
To facilitate the experience of use, Paypal will update the mobile app with a new section dedicated to payments in the shop, similar to what has already been seen with Google Wallet And Apple Wallet. It is possible that a quick authentication system is also introduced, separated from the standard login, to make access to the virtual wallet even more immediate.
To make this evolution possible was the new European legislation that forced Apple to allow access to the NFC chip of iPhones also to third -party apps. Thanks to this opening, Paypal will finally be able to exploit the iPhone chip to offer their own contactless payment service to all, without platform limitations.
