Online payment service PayPal is planning to help businesses grow offline the same way it helped retailers to grow online.
According to parent company eBay's CEO John Donahoe, as PayPal is getting into in-store and NFC mobile payments, the company believes that it could help boost businesses offline, The Irish Times reports.
“We intend to help retailers grow their businesses offline in the same way we helped merchants grow online,” he told analysts. He also informed that the company will be testing certain point of sale services with a select few retailers in the US next year.
Donahoe intimated that the company plans to roll out in-store payment services with more than twenty US based retailers during 2012.
"We've had merchants reach out to us quite aggressively, and saying they want us to bring PayPal into the Point of Sale. We see it as an incremental opportunity, and a fairly significant incremental opportunity that will play out over the next three to five years," the CEO stated.
The company reported revenue of $1.073 billion for the second quarter of 2011, up by 31 per cent. With PayPal planning on venturing into the mobile payments market, the company is expected to continue with its revenue growth over the next few years.