By Greg Bensinger
EBay Inc. has been pushing for acceptance of PayPal in some of the largest U.S. retail stores, like Home Depot. Now it is targeting the smallest businesses.
PayPal on Tuesday unveiled a new program to compel small merchants to throw away their cash registers in favor of iPads, card swipers and modern printers.
PayPal President David Marcus said the company will in exchange cover the merchants? credit card bills for the remainder of the year. A typical transformation from to the more modern system costs between $1,200 and $1,500, he said.
?We are accelerating the inevitable acceptance of payment systems like PayPal,? Mr. Marcus said in an interview.
Merchants won?t be required to use PayPal for all their transactions, though the program applies only to those switching to a system with PayPal already integrated, such as Erply, Leaf and Vend.
To qualify, companies have to be primarily using more old-fashioned systems like a cash register. PayPal may send out employees to retrieve the register and verify the system upgrade, said Mr. Marcus.
Of course, there will be limits on PayPal?s payout and the size of the business that qualify, though Mr. Marcus said those details are forthcoming. ?It?s not limitless, otherwise there will be companies that try to abuse it,? he said.
PayPal has been working to build its business in the bricks-and-mortar world to complement its online payments, particularly on eBay.com.
Last year it announced a partnership with Discover that will take PayPal to most stores where Discover is accepted.
Source: http://blogs.wsj.com/digits/2013/05/14/paypal-targets-small-businesses-in-offline-rollout/
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