Software
CVS introduces another form of touch-free payment: PayPal and Venmo QR codes.
CVS is increasing its payment options by partnering with PayPal to use the QR codes as another touch-free method of payment in the specialty pharmacy chain. PayPal & Venmo customers can pay with money that is already in their wallet instead of having to pay for a credit card, and Venmo customers can now use Venmo Credits to pay for things without needing to click a keypad or sign a document.
CVS says the latest QR codes will hit 8,200 of its US outlets in the fourth quarter of 2020. We 're in the midst of the on-going pandemic, that's not the best place to get in contact with the public, but whether you don't have a tap-to-pay phone or really don't need that, it's another option to make a hands-free purchase in shops.
CVS has also provided touch-free payment solutions via NFC since 2018, such as Apple and Google Pay — but for several years, CVS has resisted NFC support and promoted QR code platforms such as CurrentC or its own device as a touch-free payment solution.
Although both NFC and QR codes encourage you to pay for products that are contact-free, there are pros and cons. For QR codes, you need to unlock your phone to open a particular app to scan a square image, but any handset with a camera will usually work; NFC-based apps like Apple and Google Play have fast tap-to-pay functionality integrated into your phone's Firmware, although some older phones do not have NFCs so your bank needs to be partnered with these providers.
CVS claims it will be the first national store to embrace PayPal and Venmo QR codes at checkout without fee. Previously, PayPal charged sellers 1.9 percent and $0.10 per sale because the customer paid with the QR app, but the firm immediately suspended the price until 30 September due to the adverse effect of the coronavirus on the enterprise.
The US has been reluctant to embrace QR codes as a means of payment in many markets, but overseas QR codes have been common in countries like China, after Alipay's mobile payment network launched a program in 2011 that enabled offline stores to work with them to accept contactless, real-time payments.
Many sectors in China, such as public transit, also use QR code payment systems such as WeChat to pay payments. By the end of 2017, more than 65 per cent of the population used QR codes as a means of payment, according to the South China Morning Post.
