Long established as an online payment method, PayPal last year trumpeted its plans to move into bricks-and-mortar stores, announcing in October that in-store payment acceptance was next on its agenda.
“It remains to be seen how viable this is,” says Todd Ablowitz, president of payments consulting firm Double Diamond Group. “But it is a big shot in the arm to get such a large retailer to adopt it and roll it out across the chain.”
Other experts agree that this vote of confidence from The Home Depot will serve PayPal well.
“This is an important step for the simple reason that their initial pilot with their first merchant has gone smoothly to the point that both Home Depot and PayPal are moving forward quickly and aggressively with the roll out,” says Rick Oglesby senior analyst at consulting firm Aite Group LLC. “For a PayPal executive, this is exactly what they hoped to see with rapid acceptance from the customer and no major issues on the implementation side.”
A lingering question, however, is if consumers will choose to use PayPal in stores, Ablowitz says. “Does it add something versus swiping with my debit card today? Is it better? Consumers will vote with their actions.”
Internet Retailer, February 28, 2012
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