With each passing day there seems to be a new headline extolling the virtues and growth of the mobile payments industry and its biggest players.
On Wednesday, another mobile payments partnership was born between two of the biggest names in consumer financing and mobile payments technology.
Today, PayPal confirmed its working relationship with Discover to bring PayPal to more than 7 million merchant locations across the U.S., and potentially to millions of international merchant locations in the future, a joint announcement from the companies revealed.
Starting in 2013, Discover will work with PayPal to enable participating merchants to accept PayPal easily through their existing relationship with Discover. Consumers will be able to take advantage of the benefits of PayPal at these merchant locations, providing them with the simplicity, speed and security they’ve come to expect from PayPal across any channel, any time.
“We’re delighted to enable PayPal’s efforts to provide their U.S. customers acceptance at millions of physical point-of-sale locations by leveraging our unique payment services assets,” says Diane Offereins, President of Discover Payment Services. “The establishment of this relationship is a major industry milestone, which will help shape the emerging payments landscape by bringing together an established direct banking and payments company with a leading commerce enabler to create an alternative payments option for consumers at the point of sale.”
Discover says the initiative will result in real change and innovation for the industry by bringing new technologies to the point of sale that benefit merchants and PayPal customers.