PayPal vows to compete with payment cards in retail stores

02/10/2012 | Reuters

PayPal executive Don Kingsborough says he plans to push PayPal into retail stores and go toe-to-toe with Visa, MasterCard and American Express, possibly subsidizing some of the service so retailers could pay less for PayPal than it does for other credit and debit processors. In addition, PayPal will share consumer purchasing and shopping practices, he says. "We are going to do it with the greatest brands in the world -- Home Depot and every other top-100 retailer," Kingsborough said. "There isn't a major brand who we haven't talked to."

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