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PayPal introduces Payment Code technology
2013-10-08 19:25:00| Telecompaper Headlines
(Telecompaper) PayPayl has introduced new technology called Payment Code that allows consumers to make purchases by scanning a QR code on their mobile phone, or receive a short four-digit code on their phone to complete a purchase. Payment Code is an extension of PayPal's current offerings for enhancing the in-store payment experience. Once a consumer is ready to pay, they can open the PayPal app (or the specific merchant's app) to check in. Once checked-in, the app prompts them with a QR code or a four-digit short code, to authenticate the purchase. If the merchant has a barcode or QR code scanner, the merchant scans the code to confirm purchase. If the merchant does not have a scanner, customers can type in the four-digit short code into the Pin pad at checkout. In addition, Payment Code allows consumers to automatically redeem any special offers, gift cards, merchant rewards programmes or other forms of payment that is saved in their PayPal wallet. PayPal expects to roll out Payment Code globally in the first quarter of 2014.
Tags: code
technology
payment
paypal
Category:Telecommunications