WOONSOCKET, R.I.—The COVID-19 crisis has shifted a large portion of American retail online virtually overnight, but the gradual post-pandemic reopening has led to an interesting second shift: Online payment companies have started moving offline.
In August, for example, CVS Pharmacy announced plans to add PayPal and Venmo QR code payments in its 8,200 stores during the fourth quarter, taking a mobile-first brand right into the checkout line.
The national retailer, which will be the first to accept PayPal and Venmo, said its goal with the multiyear deal was to keep consumers safe and encourage them to adopt touch-free payment.
“This follows a broader trend of platforms, including Amazon Pay and WhatsApp, offering up QR codes for merchants as an alternative form of going contactless,” Marker said.