Global payments platform PayPal (NASDAQ:PYPL) recently announced it has rolled out QR code payments in Canada for small businesses to accept touch-free mobile payments from their customers using the PayPal app. PayPal reported that the new functionality allows customers to buy or sell in-person, safely, and securely without needing to purchase any new equipment.
“Using the QR code functionality in the PayPal app is a quick and safe way to complete a transaction and eliminate the need to handle cash. For example, those who are selling items in-person or at an outdoor summer market can print a QR code, place it on their table and have their customers simply scan the code, enter the amount they’re paying and send money immediately.”
While sharing details about the launch, John Kunze, Senior Vice President of Branded Experiences of PayPal, stated he and his team are rolling out the Q codes to buyers and sellers to allow them to shop and sell safely while practicing social distancing during the COVID-19 pandemic:
“[Buyers and sellers] don’t need any new devices or expensive point-of-sale terminals. All they need is a PayPal account and their smartphone.”
PayPal further explained for a buyer looking to pay, customers can go to the PayPal app, click ‘Send’ and tap the QR code symbol in the top right-hand corner. The camera will open, and customers can scan a seller’s QR code and follow the prompts to complete the transaction. Sellers can create a PayPal-generated QR code by following the steps outlined here.