TSYS Inks Deal with Discover to Process In-Store PayPal Transactions (Aug. 26, 2013)
Aug. 26, 2013
Another element of PayPal Inc.’s in-store payments strategy fell into place today with the announcement that TSYS has inked an agreement with Discover Network to process PayPal transactions at U.S. brick-and-mortar locations as part of the PayPal in-store payment acceptance partnership announced last year with Discover. TSYS’s involvement will provide an expanded payment option for merchants’ customers, said Diane Offereins, Discover payment services president.
Bringing TSYS into the equation is the latest in a series of PayPal moves around the world as the San Jose, Calif.-based e-commerce leader continues its march to become a broadly accepted payment option through all major POS, mobile and online channels. In the U.K. this week PayPal rolled out its chip and PIN-enabled PayPal Here mPOS service, based on a palm-sized card reader with built-in keypad that pairs via Bluetooth technology with an app users may download for iOS and Android devices. Transactions processed through the mPOS reader are forwarded to the user’s PayPal account; the app also enables businesses to log cash and check transactions and to send electronic receipts and invoices. The PayPal Here app initially costs £99 (US$154); the rate is 2.75 percent for EMV transactions or 3.4 percent plus 20 pence for each card transaction the user swipes through the card reader. The card-reader’s launch follows the debut of PayPal’s face-recognition “Check in” service.
In Europe, PayPal also has formed a strategic alliance with Budapest-based bank technology supplier IND Group to offer PayPal’s P2P and money-transfer capabilities to bank customers. Poland-based Alior Bank is one of the first to offer its bank customers P2P services powered by PayPal, IND Group said. Customers of participating banks may send funds to anyone using the recipient’s e-mail address; recipients must input any bank account details, such as account and routing numbers, to receive the funds, an IND Group spokesperson tells Paybefore. Bank customers need not have a PayPal account to send funds, she adds. IND serves banks in 15 countries, including Germany, Hungary, Poland, Romania, Russia, Slovakia and the U.K.
