Secure QR Code touch-free payment transactions help stop the spread of germs
Customers of CVS Pharmacy (CVS) can now pay in stores using their PayPal or Venmo apps. With either app, customers can use a QR code for contactless payments at point-of-sale terminals. The feature is part of a partnership between CVS and InComm, a third-party online payment company.
The QR code touch-free payment option is available at all 8,200 standalone CVS locations.
PayPal had announced the move to QR code payment back in July.
PayPal and Venmo users will be able to pay using apps on their phones. In addition to making transactions more secure for the customer, this technology also enables customers to pay for their purchases without touching the keypad or signing a receipt.
Contactless payment technology like the PayPal app and Venmo apps are an excellent method to help stop the spread of germs. Digital wallets keep payment methods secure because the seller never receives your full bank account information or payment card numbers. PayPal is one of the most widely used digital wallets.
“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.
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PayPal funding sources for QR code payments:
- Stored debit or credit cards
- Bank accounts
- PayPal account balance
- PayPal Credit
Venmo payment sources for QR code payments:
- Stored debit or credit cards
- The Venmo credit card
- Bank accounts
- Venmo account balance
- Venmo rewards
There are no additional fees for customers using a QR code to pay for purchases.
Both the PayPal app and the Venmo app already allow users to pay with QR codes. However, this is the first time that they are able to use it at CVS locations.
CVS Pharmacy
CVS Pharmacy is a US retail chain owned by CVS Health based in Rhode Island. The Company has over 9,900 retail stores in the United States and Puerto Rico.
Last week PayPal launched another payment source – cryptocurrencies. PayPal users can buy, sell, and hold Bitcoin, Ethereum, Bitcoin Cash, and Litecoin in their PayPal digital wallets.
How to Pay with a QR Code Using PayPal
To pay at CVS using a PayPal QR code you’ll first need to have to install the PayPal app on your phone and set up an account. If you don’t already have PayPal, you can download it from the Google Play store for Android devices or the Apple Store for iPhone users. You will also need to add a funding source like a bank account or credit card.
- Open the PayPal app
- Select ‘Scan/Pay’
- Scan the merchant’s PayPal QR code
- Enter the amount in your PayPal app
- Tap Send
How to Pay with a QR Code Using Venmo
To use a Venmo QR code to pay at CVS, you’ll need to download the Venmo app and set it up on your phone. You will also need to add a funding source, like a credit card. If you don’t already have Venmo, you can download it from the Google Play store for Android phones or from the Apple Store for iPhone users.
- Open the Venmo app
- Select ‘Scan/Pay’
- Scan the merchant’s Venmo QR code
- Enter the amount in your Venmo app
- Tap Send to confirm the purchase
Enter the amount due and press “send,” and the system generates a payment confirmation, which is in turn confirmed by the cashier.
