PayPal is going to be setting up a pop-up store in downtown Manhattan, New York to showcase some of the new tools and technologies the payments giant will debut in the next few months.
The space will be located at 174 Hudson, which is located in the Tribeca neighborhood of Manhattan. Over the next 3 and a half months, PayPal will be inviting merchants to come visit the space where they will have the opportunity to get real-time demos of the technologies in realistic point of sale scenarios. The store, which will launch on November 1, will also feature a QR code for people passing by to scan and see more details on the PayPal’s new technologies.
So what new technologies will PayPal be showing off? As the company revealed in September, PayPal is investing in a comprehensive solution for in-store merchants to integrate PayPal into the checkout and mobile payments experience. Later this year, PayPal will be rolling out a one-stop shop for merchants, both online and local businesses, to manage payments from customers.
Features of this new offering will include location-based offers, making payments accessible from any device and offering more payments flexibility to customers after they’ve checked out. Users will have the ability to access real-time store inventory, receive in-store offers, and real-time location-based advertising from stores.
PayPal tells us that it will be debuting its technology that integrated with physical payments gateways in stores (the company is expected to announce a number of partnerships with major retailers soon).
PayPal is an online payments and money transfer service that allows you to send money via email, phone, text message or Skype. They offer products to both individuals and businesses alike, including online vendors, auction sites and corporate users. PayPal connects effortlessly to bank accounts and credit cards. PayPal Mobile is one of PayPal’s newest products. It allows you to send payments by text message or by using PayPal’s mobile browser.
A pop-up store and physical presence for merchants and consumers is actually a wise move for PayPal. The technology hasn’t really had a physical presence in a retail environment, and this can be a contributor towards adoption. For example, mobile payments company Square has in-store retail deals with both Apple and Best Buy. At the moment, PayPal doesn’t have a device to sell (like Square) so a pop-up store can be a centralized place for merchants to see the new technology, and for consumers for experiment with the payments platform.
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