updated 01:35 pm EDT, Tue October 4, 2011
Standalone mini-store in Tribeca for 3 months
PayPal will open a popup store in the trendy Tribeca neighborhood in Manhattan to showcase its point-of-sale features. PayPal will invite local merchants to visit the store, located at 174 Hudson, to see real-time demos of the company's payment processing technology for bricks and mortar stores. The store also features a QR code on the storefront window so pedestrians can learn more about the new payment options. In addition to handling payments, PayPal's new system is expected to allow consumers to check inventory in real-time, and provide location-aware and in-store offers from stores.
PayPal announced in September that it would roll out a comprehensive solution for in-store merchants to manage payments from customers, whether in-person, online, or from a mobile device. Parent company eBay recently completed the purchase of mobile payment specialist Zong to give it an option similar to Square.
The new technology will make its debut with physical payment "gateways" at selected retail partners. The three and a half month run for the PayPal popup store will start November 1.
PayPal storefront in Tribeca, Manhattan