CVS Adds PayPal, Venmo Contactless Payments

In an initiative to boost contactless payment, CVS Pharmacy has added touch-free payments using PayPal and Venmo QR codes at 8,200 retail locations.

The codes allow customers to securely pay for their items without needing to touch a keypad or sign a receipt, while also enabling them to access multiple payment methods available in PayPal and Venmo wallets.

Since January, CVS maintained that it has seen a 43% increase in touch-free transactions, and the retailer noted that, according to research conducted by Forrester, 11% of the United States’ population reporting they’re using a digital payment method for the first time as a result of the pandemic. In new PayPal research, 57% of consumers surveyed said merchant digital payment offerings impact their willingness to shop stores. In addition, 34% of respondents to the survey said they would not buy from merchants at all if QR code-enabled payments were unavailable.

“Putting our customer’s safety at the forefront of our innovations, we’ve focused resources on finding new ways to make customers’ lives easier and more convenient,” said Jon Roberts, evp/COO at CVS Health. “Introducing more digital options, including touch-free payments at the register, is in step with changing consumer preferences.”