PayPal and Venmo QR payments are coming to CVS Pharmacies

It'll be the first national retailer to use the touch-free service.

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Steve Dent
July 31, 2020 8:45 AM
BRAZIL - 2020/07/26: In this photo illustration the Venmo - Share Payments logo seen displayed on a smartphone. (Photo Illustration by Rafael Henrique/SOPA Images/LightRocket via Getty Images)
SOPA Images via Getty Images

CVS pharmacies will soon let you do touch-free payments using your PayPal or Venmo accounts by using PayPal’s QR code payment system, PayPal has announced. The system will let shoppers “securely pay for their items without needing to touch a keypad or sign a receipt,” according to PayPal.

PayPal supports various means of payment, including stored debit or credit cards, bank accounts, a PayPal balance or a PayPal credit. On Venmo (which is owned by PayPal), “customers can pay using their stored debit or credit cards, bank account, Venmo balance or Venmo rewards” without any user fees, according to PayPal.

To pay, you use the PayPal or Venmo apps to scan QR codes located at CVS checkouts. Enter the amount due and press “send,” and the system generates a payment confirmation, which is in turn confirmed by the cashier.

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PayPal and Venmo already offer QR code payments, but not on such a large scale. Recently, PayPal said that it would waive seller transaction fees for small- and medium-sized businesses through September 30th due to the COVID-19 crisis. That’s unlikely to be the case for CVS and other corporations, however, particularly as the company is teaming with InComm, a third-party online payment company.

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