WOONSOCKET, R.I.—CVS Pharmacy has become the first large national chain to add PayPal and Venmo QR code options to its brick-and-mortar stores, Chain Store Age reports. The drugstore chain has made those payment options available at 8,200 standalone locations.
Since the beginning of 2020, CVS has experienced a 43% increase in touch-free transactions. “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, executive vice president and COO at CVS Health. “Introducing more digital options, including touch-free payments at the register, is in step with changing consumer preferences.”
Customers open Venmo or PayPal’s app, scan the codes to pay for items without touching a keypad or signing a receipt. Current Venmo and PayPal users have instant access to the service, while others can sign up for either service to use it at CVS. PayPal will not charge fees to the customer when paying via Venmo or PayPal QR codes. CVS loyalty customers will still be able to apply and redeem savings.
“The launch of PayPal and Venmo QR codes in CVS Pharmacy stores will not only provide health-conscious customers with a touch-free way to pay at checkout, but also bring the safety and security of PayPal and Venmo transactions into the store with shoppers,” said Jeremy Jonker, senior vice president of consumer in-store and digital commerce for PayPal. “We are thrilled that PayPal and Venmo QR codes will help to maintain the safety of CVS customers and employees, especially in the essential pharmacy retail environment as we go into the winter months.”
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