PayPal Gets Boost From Stores Looking to Compete With Amazon
- Digital payment service shifts focus from websites to stores
- CEO pushes digital wallet used anywhere as key to growth
This article is for subscribers only.
PayPal Holdings Inc. Chief Executive Officer Dan Schulman’s campaign to expand the digital-payments service beyond websites is getting a boost as more retail stores seek to compete with e-commerce giant Amazon.com Inc.
Retailers desperate to differentiate themselves and make shopping more convenient in the digital age need a technology partner, and PayPal is standing out, Schulman said in an interview. Adding to PayPal’s appeal is the fact that it is a service provider, not a competitor -- a common concern for retailers and brands that may be wary of doing more business with Amazon.