by Christopher Freeburn | January 15, 2013 1:47 pm
Ebay‘s (NASDAQ:EBAY) PayPal will soon be coming to a checkout register near you.
The online payment provider, which has long handled electronic payments for its auction website parent, announced on Tuesday that it will partner with NCR (NYSE:NCR) to process transactions at restaurants. The new deal is part of an ongoing campaign to bring PayPal into the world of physical retail transactions, Dow Jones notes.
It also puts PayPal into competition with mobile payments provider Square Wallet. Last year, Starbucks (NASDAQ:SBUX) began to accept mobile payments through Square’s app.
Under the deal with NCR, which makes cash registers and store checkout equipment, PayPal users can place restaurant orders and take advantage of promotions and discounts through mobile apps. Financial terms of the deal weren’t disclosed.
Earlier this year, PayPal partnered with Discover Financial Services (NYSE:DFS) to bring its services to 7 million physical retail checkouts. Consumers can pay retailers by entering the cell-phone number linked to their PayPal accounts and a PIN number.
By partnering with Discover, PayPal is also competing with major credit card providers like American Express (NYSE:AXP), Visa (NYSE:V) and MasterCard (NYSE:MA) in physical point-of-sale transactions. Other companies, including Google (NASDAQ:GOOG) and Apple (NASDAQ:AAPL), are experimenting with electronic wallet options.
Shares of eBay slipped more than 1% in Tuesday afternoon trading, while NCR moved up modestly.
Source URL: http://investorplace.com/2013/01/ebay-ncr-join-forces-to-challenge-square/
Short URL: http://investorplace.com/?p=291621
Copyright ©2013 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.