CVS has team up with PayPal to expands its payment option by using Paypal’s QR codes as another touch-free form of payment at the retail pharmacy chain.
Through PayPal’s partnership with payments technology company InComm, shoppers will be able to securely pay for their items without needing to touch a keypad or sign a receipt.
“In the midst of COVID-19, we have seen an incredible acceleration of digital payments and touch-free payments,” said Mark Britto, Executive Vice President and Chief Product Officer, PayPal.
“Companies of all types and sizes are looking for ways to maintain the safety of their customers and employees, especially through touch-free experiences like curbside pickup and enhanced online shopping. QR codes complement these and provide retailers an additional payment method that furthers this touch-free mission and continues the growth of digital payments for all partners in the ecosystem. The essential nature of pharmacies makes CVS Pharmacy the perfect initial partner for PayPal and Venmo QR Codes – and we’re proud to help their customers stay safe while purchasing what they need.”
Shoppers will be able to scan a QR code on their phones to pay using stored debit or credit cards, bank accounts, PayPal balance, PayPal Credit, Venmo balance or Venmo Rewards.
“PayPal and Venmo QR codes offer our customers a secure and touch-free way to complete their purchase with a payment brand they know and trust,” said Jon Roberts, Executive Vice President and Chief Operating Officer of CVS Health. “This reflects our continued focus on innovation and finding new ways to help maintain the safety of our customers and employees.”
The integration with CVS Pharmacy is the first of a multi-year QR code agreement between PayPal and InComm, which will distribute the technology through its cloud-based software updates, allowing retailers to integrate it into their point-of-sale terminals.
“In order to best serve our merchant partners during this unprecedented time, we have been exploring a wide variety of new and emerging payment technologies that could help them provide payment methods that abide by general social distancing guidelines,” said Stefan Happ, President, InComm. “Working with PayPal to deliver PayPal and Venmo QR Codes will help our retail partners serve the millions of consumers who use these innovative payment platforms.”
