PayPal and Verifone Team Up To Boost In-Person Payments Presence
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PayPal recently entered into a new partnership with Verifone with the goal of boosting its in-person payments presence.
Thanks to the new team-up, enterprise merchants will soon be able to use the partners’ omnichannel solution. This is a solution that will combine PayPal’s enterprise payment processing and eCommerce capabilities called Braintree with Verifone’s advanced hardware.
According to the two partners, their goal is to target a variety of sectors that could benefit considerably from the joint solution. Some examples include grocery, ticketing, apparel, consumer electronics, quick-service restaurants, as well as large retail sectors.
Commenting on the move, PayPal’s President and CEO, Alex Chriss, stated that the union of PayPal and Verifone will mark a major shift in how his company is approaching the omnichannel enterprise opportunity.
He explained that the collaboration with Verifone will allow PayPal to unlock a completely new path leading to mass adoption of in-person payments. This will allow the firm to scale quickly, and introduce PayPal’s full power to a global community of merchants.
New Solution To Be A Part Of PayPal Open
PayPal also recently announced the creation of a new merchant platform called PayPal Open. The new offering will be included in the platform, which will allow merchants of all sizes to access the entire PayPal ecosystem, and use every aspect of it to its full potential.
The new platform is not live yet, but PayPal stated that it will launch in the US relatively soon. After that, It will also go live in the UK and Germany later in 2025. Other nations will likely follow soon after, possibly in late 2025 and throughout 2026.
Verifone’s CEO, Himanshu Patel, also commented on the partnership, stating that combining PayPal’s industry-leading e-commerce and processing capabilities with Verifone’s structure and robust in-person payment assets will allow them to offer a unique solution that will meet the complex needs of enterprise merchants around the world. On top of that, it will offer a boundless commerce experience from the most trusted names in payments.
Verifone’s announcement acknowledged that this is a new partnership, but even so, it claims that enterprise merchants will have access to a variety of tools that will be a big help to them when it comes to achieving a unified payment acceptance experience, both in-store and online. That will include PayPal’s payment processing solutions, Verifone’s payment solutions, and global connectivity.
