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.
Equity Trustees Limited (“EQT”) (ABN 46 004 031 298), AFSL 240975, is the Responsible Entity for the Insync Global Quality Fund and the Insync Global Capital Aware Fund. EQT is a subsidiary of EQT Holdings Limited (ABN 22 607 797 615), a publicly listed company on the Australian Securities Exchange (ASX: EQT). This information has been prepared by Insync Funds Management Pty Ltd (ABN 29 125 092 677, AFSL 322891) (“Insync”), to provide you with general information only. In preparing this information, we did not take into account the investment objectives, financial situation or particular needs of any particular person. It is not intended to take the place of professional advice and you should not take action on specific issues in reliance on this information. Neither Insync, EQT nor any of its related parties, their employees or directors, provide and warranty of accuracy or reliability in relation to such information or accepts any liability to any person who relies on it. Past performance should not be taken as an indicator of future performance. You should obtain a copy of the Product Disclosure Statement before making a decision about whether to invest in this product.