Thursday, July 29th, 2021
The motto for merchants this past year could easily be: more touch-free ways to pay. As fears grew over contracting the coronavirus, more and more consumers turned to contactless methods of payment. To meet this need, merchants are investing in new technologies to support in-demand digital payment options and touch-free capabilities.
Fiserv, a leading provider of payments and financial services technology solutions, recently announced its new relationship with PayPal. This relationship will ultimately enable businesses of all sizes across a range of industries to support in-demand digital payment options and expand their touch-free payment capabilities.
“By offering QR code payments via our new Clover devices, we will be able to continue putting our fans first with innovative and convenient commerce offerings to elevate the game-day experience.”
How does it work? According to the announcement, small and mid-sized businesses that use Clover – and leverage the Carat omnichannel commerce ecosystem from Fiserv – will be able to accept payment via PayPal and Venmo. This sale is completed through QR codes presented at the point of sale. Once the payment is initiated by scanning the QR code, the consumer receives a digital receipt.
“With consumer preference shifting towards touch-free interactions, it’s critical that businesses are able to connect physical and digital commerce,” explains Devin McGranahan, Head of Global Business Solutions at Fiserv.
“By enabling consumers to pay digitally via a QR code and popular digital wallets like PayPal and Venmo, businesses are providing added convenience and choice as in-person shopping, dining and entertainment experiences resume.”
The Impact of COVID on Payments Industry
Over the past year, the way merchants do business has changed drastically. From shutting their physical doors to adopting curbside services to meeting customer’s new needs and investing in new solutions, businesses in every community have demonstrated their resiliency. The recent partnership between Fisver and PayPal is yet one more example of companies doing their very best to meet these demands.
By scaling PayPal and Venmo QR codes across an expansive physical footprint that includes the hundreds of thousands of small entrepreneurs running their business through the Clover platform, we are helping these businesses prepare for an unknown future by enabling touch-free payment technology that also drives customer loyalty, digital engagement and access to new customer segments.”
Where to Find the Newest Payment Processing Solutions
If your business is searching for different payment processing solutions that will enable touch-free payment capabilities and meet customer’s expectations, consider using the many resources bestpaymentproviders.com offers. Browse reviews and resources to find providers with exceptional reputations that understand your business type and industry.