NEW YORK — PayPal, the online payments and money transfers giant, wants to play in the off-line world.
“The idea is to become as ubiquitous as American Express is offline,” said a spokeswoman, noting that PayPal processed nearly $92 billion in total payment volume last year. PayPal said the new services may help boost its volume of transactions in 2012 beyond the $100 billion the company expects to report this year.
“We’re not asking merchants to upgrade their technology,” the spokeswoman said. Nor will consumers be required to upgrade their technology, change their bank accounts or adopt any new behavior, she said.
PayPal’s new mobile payments platform stores gift cards and loyalty points and automatically applies the stored money and savings for customers at the point of sale. Consumer functions include geo-coded mobile advertising, barcode scanning for in-store offers, real-time inventory scanning, payments using mobile devices and POS terminals, and PayPal’s virtual wallet that accesses the user’s underlying bank account and credit cards.
Shoppers can use cash, credit, pay in installments, or split a bill, dividing the charges over more than one card. The barcode scanner in the app can be used to find the best deals; items can be paid for right in the store aisle.
“For retailers, we’re rolling out a one-stop shop to engage their customers through relevant offers that are location and list-based,” the spokeswoman said. “We’re making payments accessible from any device, not just from the mobile phone. You can enter your mobile phone number and a four-digit pin into the pin pad at the register. No phone, no wallet, no problem.”
She said PayPal represents a value to merchants: “With no extra fees, PayPal’s product for merchants is on average up to 14 percent less expensive than other credit card processors online.”
PayPal isn’t the only company introducing a virtual wallet. Google in May revealed plans for Google Wallet — consumers can use it to tap, pay and save using their phone and near field communication. Visa said it will launch a virtual wallet system in August or September.
“The credit cards are still our partners,” the PayPal spokeswoman said. “We have a great relationship with them. We’re getting larger merchants interested. We’ll have one customer in beta by the end of the year and 20 by mid-2012.” She declined to name the participating retailers.
PayPal is leasing for four months a vacant retail space at 174 Hudson Street here, where it will present the technology to retailers. PayPal, an eBay Inc. company, hired Barneys New York creative ambassador Simon Doonan to give the windows his signature crafty, cheeky look. Doonan filled the space with 3,000 fully jointed wooden artist models in various sizes. In the center window they are woven into a wreath.
Supermodel @helenachristensen teamed up with longtime friend and designer @camillastaerk on a joint @paredeyewear collaboration. The lineup features three styles and 11 offerings, all of which embody a vintage feel. Get all the details on how they celebrated the collab on WWD.com. #wwdaccessories #wwdeye (📷: @slovekinpics)
“It’s a hard industry to keep motivated, as well, so finding different subjects and people is what makes it worth it – when you’re like, oh, I’ve met great people, I feel like I’ve done something good, and I feel proud of having done this,” said French actress Stacy Martin on being grateful for the variety of roles she’s take on. Read @ktauer’s full interview with Martin on her her latest film “Godard Mon Amour.” #wwdeye (📷: @danieldorsa)
After showing in front of the Eiffel Tower for his last two women’s ready-to-wear collection, it looks like @anthonyvaccarello may be heading to the Big Apple. Sources say the designer will stage his next @ysl show in NYC on June 6. Get all the details on WWD.com. #wwdnews #wwdfashion (📷: @aitorrosasphoto)
EXCLUSIVE: Two and half months after John Targon, cofounder and codesigner of Baja East, was hired as creative director of the contemporary division at Marc Jacobs, he has left the company, WWD has learned. Marc Jacobs International, which is owned by LVMH Moët Hennessy Louis Vuitton, confirmed Targon’s departure in a statement: “John Targon is a talented designer and we appreciate the work he has done here. Ultimately working together did not make sense for the brand and we wish him the best.” Read the story by @jessiredale, link in bio. #wwdnews
@theluxurycollection is officially launching a collection, tapping Sofia Sanchez de Betak for the capsule. Over 30 styles will be featured in the Chufy x The Luxury Collection, debuting next month at Bergdorf Goodman, The Webster, FiveStory and more. De Betak, known as “@chufy,” drew inspiration for the collection from her trips to Japan in the past year #wwdfashion
@lhd, founder and CEO of @thewebster, has teamed up with @lebonmarcherivegauche for the European launch of her ready-to-wear line, LHD. The launch will come with an exclusive pop-up opening today that’s set to run through May 20. Located on the second floor, it carries her debut Miami-themed resort collection, launched in November as see-now-buy-now. #wwdfashion