The world has gone mobile and PayPal is going with it.
The company is getting ready to introduce a new mobile payment platform and wants merchants to check out the new in-store payments service in a retail setting. To help build awareness and comfort among retailers, restaurants and other local businesses, the online-payment service is opening a pop-up store in New York's Tribeca neighborhood to demonstrate it.
TechCrunch reports that “PayPal will be inviting merchants to come visit the space where they will have the opportunity to get real-time demos of the technologies in realistic point-of-sale scenarios.”
PayPal “is investing in a comprehensive solution for in-store merchants to integrate PayPal into the checkout and mobile payments experience,” which means that consumers should eventually be able to pay using different devices and get real-time location-based discounts and offers, as the e-commerce enabler explains in the above video.
Plus, customers can check out a store’s actual inventory on products as well, which will be good to have when there’s a run on whatever the next Cabbage Patch Doll-like phenomenon is.
Retail consultant Mike Wittenstein feels the NYC pop-up, which opens on November 1st at 174 Hudson Street, is a smart idea. "Pop-up stores are a proven model that work and they work well," Wittenstein told RetailCustomerExperience.com.
PayPal promoted the temporary showroom on their corporate blog this week, where Carey Kolaja, senior director of emerging opportunities, wrote:
When PayPal created the first digital wallet in 1998, we couldn’t have dreamed that 13 years later payments would be making headlines daily and driving corporate strategies at companies as diverse as the customers they serve.
From tech and telecom giants to the Valley’s most successful social networks and start-ups, these days it seems like everyone wants a piece of the payments pie.
And for good reason. The way people shop is changing, and retailers have to change too. But while so much of current thinking is focused just on the future of “checkout,” here at PayPal we’re creating a better shopping experience, from start to finish, no matter what what’s being bought, where it’s being sold, or how it’s being paid for.
We gave some of our customers a sneak peak at this technology in Los Angeles during our Customer Summit last month, but now – just in time for the biggest shopping season of the year, in one of the biggest shopping capitals in the world – we’re setting up shop to demonstrate how PayPal really is the future of shopping.
We’re excited to officially announce PayPal’s Shopping Showcase, a special invitation-only installation where we’re giving a behind-the-scenes look at our newest products.
Imagine a digital wallet that stores all of your gift cards, loyalty points and offers and then automatically applies the stored money and savings for you at the point of sale. Imagine purchasing an oversized item from the aisle and having it shipped directly to your house in a matter of clicks. At the Shopping Showcase, we’ll be showing merchants and select members of the media a complete set of solutions that do all of this – and so much more.
Keeping up with technology is hard, not just for retailers, but also for the range of customers that they serve. So, without mandating any technology upgrades or favoring one solution over another, we’re making the connection between merchants and consumers more convenient, more personal and more relevant.
We can’t wait to show New York just how excited we are about the future of shopping.