We're almost at the day where you won't have to carry cash or a card to pay for goods and services. Surely you've used Square at a farmer's market, coffee shop, or bookstore, but the payment market is expanding to card-free areas of commerce. PayPal has announced a partnership with Revel Systems, a business that provides point-of-sale platforms that use an iPad to process payments.
While PayPal is currently pushing its own device, the Beacon, the company seems to understand its competitors have a bit of a head start. To close that gap PayPal has worked with point-of-sale services from Booker to Leaf to build its reach. Revel is just the latest such expansion. Revel Systems are used in stores for major retailers such as Dairy Queen, Popeye's, and Goodwill, and provide PayPal a massive potential new revenue source. Revel Systems CEO has this to day about the arrangement.
The Revel Systems and PayPal relationship will be very impactful for the point-of-sale industry as a whole. PayPal is leading the trend of digital secure payments on the consumer level, and Revel is leading the way for the next generation of mPOS, creating a collaboration that is set to deliver a new experience to customers. For years people have been using PayPal to shop online, and the integration with Revel now brings the same convenience and security to brick and mortar retail and food establishments allowing consumers to pay on the go.
Users will be able to pay into the Revel point-of-sale system with PayPal via their iOS or Android apps. This integration also introduces new time-saving features like the ability to order and pay for meals or products before you even head out to the store.
The deal puts PayPal in more store fronts and helps promote businesses that use the Revel system by listing them in app as nearby retailers who accept PayPal. Revel currently has over 2,000 clients who use it's system.