Imagine a day when you visit a retail store and there is not a cash register in sight. Global e-commerce company PayPal, a major contender in the mobile retail space, is working to make this a reality.
In a recent article published on MarketWatch.com, PayPal’s president announced the company’s plan to help more retailers go paperless by offering its services to nearly two million stores across the United States by the end of 2013. This is the next step of the company’s plan to expand their services outside of online retailers, such as its parent company eBay.
PayPal already offers this option to 250,000 retail outlets such as Home Depot, Foot Locker and Toys R Us. PayPal is also enabling consumers to use smartphone apps to pay for products prior to visiting the store or restaurant.
Taking a quote from the article, “The company estimates that its efforts to extend its offline payment-processing technologies to traditional retailers will see a nearly ten-fold increase in users by the end of the year.” With these heavy hitting statistics, could the end of the retail cash register and paper receipts be a reality?
We’ll continue to keep an eye on this trend and share updates as it relates to PayPal and other retail providers. How do you feel about these new advancements in technology? Share your comments below.