The integration with CVS Pharmacy is the first of a multi-year agreement between PayPal and InComm to bring acceptance of PayPal and Venmo QR Codes to retailers across the country.
CVS Pharmacy is the first national retailer to integrate PayPal and Venmo QR code technology at its checkouts, completing the roll out at all standalone stores across the country in the fourth quarter of 2020. The new touch-free payment option is in partnership with technology company InComm, allowing customers to pay for their items without needing to touch a keypad or sign a receipt.
"PayPal and Venmo QR codes offer our customers a secure and touch-free way to complete their purchase with a payment brand they know and trust," said Jon Roberts, executive vice president and chief operating officer of CVS Health. "This reflects our continued focus on innovation and finding new ways to help maintain the safety of our customers and employees."
Traditionally online payment options, Venmo and Paypal QR codes bring these payments into the store. Shoppers can pay using stored debit or credit cards, bank accounts, PayPal balance, PayPal Credit, Venmo balance or Venmo Rewards.
"In the midst of COVID-19, we have seen an incredible acceleration of digital payments and touch-free payments," said Mark Britto, executive vice president and chief product officer, PayPal. "Companies of all types and sizes are looking for ways to maintain the safety of their customers and employees, especially through touch-free experiences like curbside pickup and enhanced online shopping. QR codes complement these and provide retailers an additional payment method that furthers this touch-free mission and continues the growth of digital payments for all partners in the ecosystem. The essential nature of pharmacies makes CVS Pharmacy the perfect initial partner for PayPal and Venmo QR Codes – and we're proud to help their customers stay safe while purchasing what they need."