LONDON, Dec. 9, 2020 /PRNewswire/ -- PayPal today launched QR code payments in iZettle's point of sale app, allowing small businesses across the UK - from retailers to florists and cafes - to accept safe and secure touch-free payments from customers. The roll-out marks the first time UK merchants can accept PayPal QR Code payments in-store via a point of sale solution.
To support the small business community further during the pandemic PayPal QR Code transactions will be available for iZettle merchants at a reduced transaction rate of 1% from now until May 31st 20211.
The launch of PayPal QR Codes within the iZettle app comes as UK businesses reopen and consumers seek to support local businesses in the run-up to Christmas, and beyond. The touch-free technology allows shoppers to complete their purchase from a distance.
Anissa Damoussi, founder of independent retailer So Marrakech in Manchester, says "We are extremely happy to have re-opened our Concept Store again last week following November's lockdown and I'm looking forward to offering customers a safe and secure checkout with PayPal QR Codes within the iZettle POS. We believe the more we can offer in terms of touch-free retail, the better. Here's to a wonderfully busy Christmas for all independent high street retailers!"
Research showed the closure of non-essential retail stores earlier this year meant the high street missed out on £1.6bn of lost sales each week with the British Retail Consortium predicting the second lockdown would also have a significant impact on small businesses, especially when it comes to festive shopping.2
"Small businesses need access to commerce tools that help them sell securely and meet their customers wherever they are – in-store, online and in-between." Jacob de Geer, Vice President of Small Business Products and iZettle, PayPal, comments. "By bringing together our best-in-class point of sale product with our new touch-free payment method we can help small businesses offer an innovative in-store payment experience while navigating this new normal."
Small businesses may start accepting payments using PayPal QR Codes within the iZettle point of sale app. Merchants need to refresh the iZettle app to update to the latest version and activate PayPal as a payment method. For each transaction, a dynamic QR code will appear. As soon as the customer confirms the amount and scans the code with their PayPal app, the payment is complete.
The roll-out of PayPal QR Codes within iZettle builds on the launch of PayPal QR Codes in the PayPal app that was announced in May 2020.
iZettle is a PayPal company and has been a part of the PayPal family since 2018.
PayPal has remained at the forefront of the digital payment revolution for more than 20 years. By leveraging technology to make financial services and commerce more convenient, affordable, and secure, the PayPal platform is empowering more than 350 million consumers and merchants in more than 200 markets to join and thrive in the global economy. For more information, visit paypal.com.
Contact: Joe Gallo, [email protected]
1 The transaction rate of 1% for PayPal QR Code transactions is valid until 31 May 2021. From 1 June 2021, we'll charge the same transaction rate for PayPal QR Code transactions as your standard card present transaction fee. For more information visit: https://www.izettle.com/gb/payments/qr-code
SOURCE PayPal Holdings, Inc.