We are able to do so many different things with our smartphones these days, but one of the

most convenient developments has undoubtedly been the ability to pay for goods and services

with them.

Building on existing options, a range of increasingly sophisticated tools has emerged on that

front across the last few years, with the likes of Google Pay and Apple Pay being embraced

by customers and retailers alike. 

However, PayPal, which was founded all the way back in 1998, remains a major name in this space today. In fact, the brand recently unveiled a new system designed to support small businesses across Canada with the help of QR codes.

Going touch-free

According to sites including Markets Insider, PayPal revealed at the end of June that it is

introducing QR code-based payments in the country, with the service allowing smaller firms

to carry out touch-free transactions with customers.

Under the move, businesspeople ranging from retailers to restaurant owners will be able to

create a QR code that can then be placed next to their cash registers. Customers who want to

buy their goods or services can use the PayPal app to scan the code, input the amount that

they need to pay, and then transfer the money to the business directly. Markets Insider also

confirmed that PayPal is waiving seller transaction fees on any sales made through a QR code

until the end of September, in a move to promote the new system.

The development is an intriguing one for a company that has thrived in the world of digital

payments. According to Statista.com, PayPal boasted around 325 million active accounts

worldwide in the first quarter of 2020, with that marking a 17 percent increase compared to

12 months earlier.

No stranger to innovation

Of course, throughout its journey, PayPal has been no stranger to innovation. The

organization’s work has appeared on our radar on numerous occasions in the past, with our

website reporting, for example, on its collaboration with TouchBistro to boost mobile

payments in restaurants and cafes all the way back in 2013.

Furthermore, the official PayPal site details how the brand’s payment services are accepted

by a whole host of companies, with brands like Wayfair and Walmart embracing it on their

online shopping platforms. It is also accepted in many apps, such as those created by Uber,

Spotify and Starbucks, while it has even found a home in the online casino industry as well.

As a guide to online casinos in Canada explains, PayPal is one of several e-wallet services

accepted by gambling sites in the country, alongside the likes of Skrill and Neteller, as a very

popular option for players.

However, while PayPal may be in a fairly dominant position as a key digital payment method

across a range of industries in Canada, there are signs that the brand has no intention of

resting on its laurels. Looking to the future, Forbes recently detailed how PayPal along with

the likes of MasterCard and Visa are reportedly investigating cryptocurrencies and what they

may be able to do in relation to them and the ledgers they are based upon. As such, there is

every expectation that there could be developments on that front in the very near future.

A forward-thinking company

Source:Pixabay

Such suggestions, twinned with the introduction of QR code payments in Canada,

undoubtedly show just how forward-thinking a company like PayPal is.

The organization has gone from strength to strength through the years and, with digital

payments and the idea of going cashless seemingly becoming more common across the globe,

it is likely that it has a key role to play going forward as well. Mobile payments look set to be with us for the long haul, and the chances are that PayPal may well be too.