PayPal has launched a new system in collaboration with point of sale technology companies, bringing a cash-less and card-less payment option into Australian shopping centres and retail stores for the first time.
Following its successful launch in the United States last year, the PayPal Here APIs will allow point of sale (POS) software providers in Australia to integrate PayPal payments in to current and future systems. For retailers, this means that PayPal technology can be integrated into POS systems, alleviating the need to replace existing hardware in-store.
With 4.6 Australian PayPal users, the innovation enables customers to make payments without cash or card by accessing their PayPal account via a mobile app to locate and check-in to the store where the purchase is being made. After check in, orders can be placed and payments are then prcoessed using a PayPal account.
Pay Pal says the new system is a secure payment option for consumers, with quick and easy access to any funding source connected to a PayPal account. The company also believes the technology will benefit retailers, providing businesses with information about checked in customers, in order to engage with buyers on a more personal level and, in turn, drive sales.
“New technology and changing consumer behaviour is driving structural change in retail,” , Managing Director for PayPal Australia Jeff Clementz says.
“We’re providing merchants with innovative technology that enables them to meet and adapt to the needs of their customers. Our goal is to provide flexible and secure solutions that empower merchants by helping them understand their customers and drive engagement beyond the traditional path to purchase.”
The payment option launches in conjunction with a new report from PayPal and eBay with findings that show technological innovation coupled with behavioural shifts is set to drive $5.6 billion worth of retail purchases on mobile devices in 2012, up from $155 million in 2010.
A number of businesses have already adopted PayPal’s new system, including Australian fashion vendor Glue Store, specialty education retailer Crayons and Sydney-based artisan baker Sonoma Bakery, who today implemented the technology in six of its retail locations.
See the video below for a working demonstration of PayPal’s technology at Sonomoa Bakery.