CVS Pharmacy has implemented touch-free checkout using PayPal and Venmo QR codes at all 8,200 standalone retail locations, reaching a milestone set at the start of the partnership in July 2020. These codes allow customers to pay for their items without needing to touch a keypad or sign a receipt, an important consideration for retailers looking to keep shoppers safe during the COVID-19 pandemic.
Shoppers can use the contactless option by opening either the PayPal or Venmo mobile app, clicking the “Scan” button and selecting the ‘show to pay’ option. Those without existing PayPal or Venmo accounts can sign up and link their preferred payment method within minutes. The new checkout offering also includes access to multiple payment methods available in PayPal and Venmo wallets, and shoppers can still apply CVS’ ExtraCare Rewards during any transaction.
Since January, CVS has seen a 43% increase in touch-free transactions. This jump aligns with a rise in demand for contactless payment options tracked by multiple studies and surveys, including:
- 84% of consumers plan to use touchless technologies to avoid physical contact in stores during the pandemic, according to Capgemini;
- 11% of the U.S. population report they’re using a digital payment method for the first time as a result of the pandemic, according to Forrester; and
- 57% of shoppers say that retailers’ digital payment offerings impact their willingness to shop in their stores, according to PayPal.
“Putting our customer’s safety at the forefront of our innovations, we’ve focused resources on finding new ways to make customers’ lives easier and more convenient,” said Jon Roberts, EVP and COO at CVS Health in a statement. “Introducing more digital options, including touch-free payments at the register, is in step with changing consumer preferences.”