VeriFone Signs Mobile Wallet Pact With PayPal

SAN JOSE, Calif. -- PayPal's mobile wallet payment platform received a huge boost today. VeriFone Systems Inc. has teamed up with PayPal in an effort to dramatically advance the latter's payment method at checkout.

According to VeriFone, its software products and services are utilized by 80 percent of the top 200 U.S. retailers, comprising more than 1 million points-of-sale. The deal allows those retailers to converge e-commerce and retail payments into a new customer shopping experience.

"Retailers who take advantage of the extensions to VeriFone's platforms will be able to offer their customers a rich environment that integrates the virtual and physical retail worlds," said Jennifer Miles, VeriFone executive vice president, North America. "By working to extend PayPal's reach into traditional retail, VeriFone is providing retailers with an immediate and simple way to adopt and manage new payment experiences that consumers are demanding."

According to VeriFone, it will initially layer PayPal's mobile wallet interfaces at select merchant locations in the United States. Subsequently, VeriFone will enable PayPal acceptance as part of a combined new software and services solution.

"VeriFone's extensive customer base and strong technology make it a natural ally for PayPal as we continue to deliver on our strategy to bring intelligent electronic payments and value-added offers to brick-and-mortar stores," said Don Kingsborough, vice president, retail and pre-paid services, PayPal.

In related news, Equinox Payments LLC today announced an agreement with PayPal to enable consumers to pay with PayPal at-large retailers using Equinox's next-generation PCI 3.x Certified L5300 and L5200 consumer-facing payment terminals. According to Equinox, PayPal users will benefit from the convenience of paying with PayPal at thousands of retail stores across the United States that are equipped with its products.

"Three of the top 10 U.S. retailers use Equinox terminals due in part to our ability to enable the latest technologies at checkout," said Clint Jones, president of Equinox Payments. "Our partnership with PayPal will give Equinox customers -- processors, independent sales organizations, acquirers and retailers -- even more choice among value-added services that they choose to run on their Equinox terminals."

PayPal is a division of eBay Inc.