Fiserv offers more touch-free ways to pay via PayPal and Venmo through QR codes

By Pavithra R

Fiserv, a leading global provider of financial services technology solutions, has announced enabling businesses of all sizes across a range of industries to support in-demand digital payment options and expand their touch-free payment capabilities via a new relationship with PayPal.

Under the deal, SMBs using Clover and large enterprises leveraging the Carat omnichannel commerce ecosystem from Fiserv will now be able to accept payment via PayPal and Venmo through QR codes presented at the point of sale (POS). Consumers will be able to initiate payment by scanning the QR code with their PayPal or Venmo app, and will receive a digital receipt.

“With consumer preference shifting towards touch-free interactions, it’s critical that businesses are able to connect physical and digital commerce. By enabling consumers to pay digitally via a QR code and popular digital wallets like PayPal and Venmo, businesses are providing added convenience and choice as in-person shopping, dining and entertainment experiences resume,” said Devin McGranahan, Head of Global Business Solutions at Fiserv.

The COVID-19 pandemic has raised awareness of and driven a demand for touch-free payment options. Touch-free payment capabilities will crucial role as people and businesses get back to a new normal, including the return to sports and entertainment venues.

Fiserv will also enable PayPal and Venmo payments via QR code at venues throughout the United States. The Phoenix Suns Arena will be among the first venues to enable the capability via Bypass point-of-sale software from Fiserv and Clover devices located throughout the arena.

“The impact of Covid-19 on businesses of all sizes – especially small businesses – could not be understated. From shutting their physical doors to investing in omnichannel solutions their customers clamored for, we saw the resiliency in businesses as they navigated the pandemic. By scaling PayPal and Venmo QR codes across an expansive physical footprint that includes the hundreds of thousands of small entrepreneurs running their business through the Clover platform, we are helping these businesses prepare for an unknown future by enabling touch-free payment technology that also drives customer loyalty, digital engagement and access to new customer segments,” said Frank Keller, Senior Vice President of Commerce at PayPal.

Established in 1984, Fiserv is a global provider of payment and financial services technology. The FinTech aspires to move money and information in a way that moves the world. The Firm is a member of the S&P 500 Index and the FORTUNE 500 and is among FORTUNE World’s Most Admired Companies.