CVS launches contactless payment program

As companies worldwide implement new infection control measures to ensure safe operations amid the pandemic, retail pharma giant CVS will become the first national retailer to offer contactless Venmo and PayPal technology at checkout registers.

CVS signed a contract with PayPal July 30, planning to implement PayPal QR code technology at 8,200 of its locations by the fourth quarter.

PayPal partnered with national retailers in 2012, but the payment options required customers to enter a PIN code or swipe a card, so the systems were not contactless.

"In the midst of the COVID-19 pandemic, digital payments have become more important and essential than ever," Dan Schulman, president and CEO of PayPal, said a July 29 report. "Our record performance in the second quarter — our strongest quarter ever — reaffirms the relevance of PayPal in the unfolding digital future."

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