Print 28 comment(s) - last by ven1ger.. on May 16 at 7:06 PM

PayPal is looking to eliminate cash registers and wallets to create a digital payment ecosystem in retail

PayPal wants merchants to get rid of their traditional cash registers and opt for its new program: Cash for Registers. 

Cash for Registers will reward merchants who decide to trade in their cash register for a solution like PayPal Here -- which allows payments to be processed on-the-go via an iPad, iPhone or Android device. 

What will merchants receive for ditching their cash registers, exactly? PayPal will give them free credit, debit card, check, and PayPal processing for the remainder of the year (as long as they're a qualifying U.S. business). 

In addition to free processing, PayPal will spread the word about businesses who participate in Cash for Registers to its 55+ million U.S. (128 million worldwide) customers.

PayPal said it is partnering with ERPLY, ShopKeep, Vend and more in order to launch the service. 

While it doesn't launch til next month, businesses can sign up for it here

Source: PayPal

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RE: payment method
By VoodooChicken on 5/15/2013 3:04:10 PM , Rating: 5
How's that different than any other credit card transaction? The vendor's phone doesn't read your card, the card reader does. If you trust verifone or whomever at the grocery store, squareup does the same thing, pretty much the same way.

RE: payment method
By CZroe on 5/15/2013 10:42:44 PM , Rating: 2
Because a phone the clerk can treat like their own is a lot more easily compromised than a register. When I was at the Del Mar Fair in San Diego I immediately canceled my check card after an idiot at the very first booth I stopped at thought it would be a good idea to hold his phone under the counter and send a text message while holding my card in his hand. He may have just been texting his friend back but I wasn't taking that risk. You're taking that risk when you hand some clerk your card and let them swipe it into a phone. Even without unintentional malware or a compromised phone and even with locked-down "secure" devices, an intentionally malicious clerk can put the reader into their own personal phone or tablet and you'd have no idea.

"So, I think the same thing of the music industry. They can't say that they're losing money, you know what I'm saying. They just probably don't have the same surplus that they had." -- Wu-Tang Clan founder RZA
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