Recently, PayPal has making bold new moves to take its business to the next level. This drive of ambition has come after eight years of PayPal’s online business, and it has comes only after PayPal saw how Square skyrocketed up in this sector of offline and mobile payments, a field that PayPal never took up.
However, the last one year has been an eye-opener for PayPal and it has started taking Square and its style of business seriously. PayPal started by announcing a deal with McDonald’s and acquiring Card.io. Square, on the other hand, grabbed a major deal with Starbucks. Grab your popcorn, because this is going to turn into an intense race for supremacy in the field of offline and mobile payments. PayPal has recently announced another deal with Discover, which does not restrict it to a few merchant establishments anymore.
This deal with discover will put PayPal miles ahead of Square in this race, with offline PayPal payments being accepted at more than seven million merchant establishments. Trying to keep pace with this improvement, PayPal’s VP of Retail Services says,
The whole industry has been looking for a landmark that says that all of this is really happening. This is an important deal for us, because it gets us to over seven million locations seamlessly.
PayPal boasts of over 50 million users, and Discover has a network spread across the entire US. This marriage will make for the largest mobile payment network spread across the US. The deal with Discover will go operational in April next year, and it is time for Square to make its big move.