PayPal executive Don Kingsborough, the company’s vice president of retail and prepaid products and the man leading the online payment processor’s push into retail stores, recently said that he wants to see PayPal right next to American Express and MasterCard on registers across the country.
Kingsborough said that he is willing get aggressive with pricing in order to cool the long-standing debate over fees that the processor charges merchants, Reuters reports.
As a result, merchants using PayPal as a payment processor may pay less than current prices and have access to data on shopping activity and purchases.
EBay Inc., the parent of PayPal, plans to test PayPal services at point-of-sale with 20 major retailers.
Kingsborough said that the payment giant is aiming for the top.
“We are going to do it with the greatest brands in the world – Home Depot and every other top-100 retailer,” Kingsborough said, according to Reuters. “There isn’t a major brand who we haven’t talked to.”
Former eBay and PayPal executive Dana Stalder said that expanding PayPal into retail stores would be monumental for the payment processor.
“If PayPal can break into this it will be an enormous company,” Stalder said, Reuters reports.
A two percent share of checkout purchases at retail stores would give the company an additional $70 billion in business, Reuters reports.
EBay CEO John Donahoe also commented on the plan, noting that the future has much in store for the company.
“2012 is trial and learn. 2013 and beyond is when we really scale it in the U.S. and globally and across categories,” Donahoe, said, according to Reuters. “That’s the goal I’m holding [Kingsborough] to in 2012 – do we have a scalable product?”