CVS Drug Stores to Accept PayPal and Venmo QR Code Payments for Contactless Checkout
PayPal announced that all CVS Pharmacies will soon accept QR code payments from the PayPal and Venmo apps. Customers will be able to use their mobile devices to scan a QR code that charges purchases to their PayPal or Venmo accounts. The technology will be available at 8,200 standalone CVS Pharmacy stores nationwide.
Scanning a QR code offers a secure way to use contactless technology to pay for purchases at any point-of-sale (POS) terminal. Users do not have to remember a password or PIN to pay with a PayPal QR code scan. However, using a newer phone that offers fingerprint scan or facial scan login protection adds another layer of security for your money. Contactless payments also protect users as they no longer have to touch the POS terminal screen to swipe payment cards or enter a PIN number.
PayPal is already one of the most widely used digital wallets in the United States. Apple Pay, Samsung Pay, and Android Pay are also widely used by those who do pay with their phones. The PayPal wallet is one of the top four digital wallets and works with all major mobile devices.
Digital Wallets Have Been Slow to Catch on in the US
Digital wallets are a convenient and secure way to pay for purchases online and at retail locations. Although it is more secure and convenient, wallet payments have been slow to catch on in the United States. There can be difficulties paying using digital wallets. First your wallet has to be compatible with your device. For example, you cannot use Apple Pay on an Android phone. Next, your digital wallet has to accept the payment card or account you want to store. Not all wallets work with all cards or banks. Finally, the retailer has to have POS hardware that works with your chosen digital wallet.
“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.
Other Forms of Contactless Payment
Paying with a QR code scan is just one of many ways to pay for a purchase securely and touch-free. Many apps have the user show a bar code that the cashier scans to confirm the payment. Some credit cards can be used at tap-to-pay POS terminals. Although many PIN and chip credit card purchases could be completed with no contact, many retailers still require a signature or for the buyer to interact with questions shown on the checkout screen. For example, shoppers are often prompted to press a button to confirm the purchase amount or to donate.
Many digital wallets can store passports, driver’s licenses, insurance cards, and store loyalty cards. They can also be used for travel boarding passes, event tickets, and train passes.
With PayPal, Scan a QR Code to Pay With:
- Debit cards
- Credit cards
- Bank accounts
- A PayPal account cash balance
- PayPal Credit
With Venmo Scan a QR Code to Pay Using:
- Debit cards
- Credit cards
- Bank accounts
- Venmo balance
- Venmo Rewards
How to Scan a QR Code
It’s easy to use your phone to scan a QR code. In general, you open the app you want to use and tap a button to show a QR code on your phone’s screen. Then you hold the QR code up to a scanner at the point of sale terminal to scan the code.
Scan a QR Code to Pay with PayPal
To scan a QR code to pay with PayPal, you must first have the latest PayPal app installed on your phone. If you don’t already have the PayPal app installed, you should download it using a secure WiFi connection – at home or possibly at your office. Never use public WiFi to download and install banking or other financial apps on your phone. Anyone who is using the same WiFi connection – like at a coffee shop – can intercept your information and steal your money.
- Open the PayPal app
- Tap Scan
- Hold your phone up to the QR code at the retailer’s checkout POS terminal
- Enter the dollar amount of your purchase
- Tap Send
- That’s it, your all paid up!
The PayPal app will generate a payment confirmation. You may be asked to show it to the cashier to confirm that you have paid for your purchase.
PayPal has signed a multi-year contract with InComm to provide contactless technology to its PayPal and Venmo users. Paying with QR code scans will be available at all CVS Pharmacies in the fourth quarter of 2020.