by Alex Gluyas Markets Reporter
Updated Jun 22, 2021 – 6.21pm,first published at 6.04pm
PayPal is chasing market share from other point-of-sale payment providers such as Afterpay and Applepay with a QR code application that will make its rival offering more secure, faster and cheaper to implement.
Previously, PayPal could be used remotely only via online shopping sites, but the QR code allows merchants to offer PayPal at the register.
Afterpay would need to invest significant capital to introduce QR code technology, Insync’s John Lobb said.
The move opens up the bricks and mortar market to PayPal, where it will be able to offer a superior product to competitors, according to John Lobb, portfolio manager at Insync Funds.
“The introduction of QR codes by PayPal is significant because it boosts their presence in physical stores,” Mr Lobb said.
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