PayPal Launches New Mobile Payment Platform, InStore, in U.K.
PayPal launched a new retail mobile payment app in the U.K. called InStore this week, partnering with four high-fashion merchant thus far — Coast, Oasis, Warehouse and Karen Millen.
The app displays a barcode on the consumer's mobile device, which is scanned at the register. According to TechCrunch, PayPal does not plan to incorporate NFC payment capabilities into the app in the near future.
As part of last week’s new business plan announcements, which keyed on new merchant and point-of-sale partnerships, PayPal revealed that it plans to process $7 billion in mobile payments this year.
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