PayPal today announced a new partnership with Discover that will bring PayPal to more than 7 million merchant locations across the U.S., and potentially to millions of international merchant locations in the future, according to a company press release. Currently, PayPal services more than 50 million customers through its online payment service.
“The establishment of this relationship is a major industry milestone, which will help shape the emerging payments landscape by bringing together an established direct banking and payments company with a leading commerce enabler to create an alternative payments option for consumers at the point of sale,” said Diane Offereins, President of Discover Payment Services. “This initiative will result in real change and innovation for the industry by bringing new technologies to the point of sale that benefit merchants and PayPal customers."
Don Kingsborough, Retail VP for PayPal, said the partnership will “create new benefits for Discover merchants without requiring new hardware or software.”
Beginning in 2013, participating merchants will have the capability to accept PayPal through the Discover partnership. The implementation will not require new or upgraded point of sale (POS) hardware or software. In-store signage will alert shoppers of the new payment option.