PayPal Exec Woos Big Retailers with Pricing, Data
Don Kingsborough wants PayPal displayed alongside Visa, MasterCard and American Express in retail stores. To get there, he will compete aggressively on price.
As the executive leading PayPal's push into physical stores, he hopes to tap long-simmering tensions over billions of dollars in fees the payment giants charge merchants each year.
Kingsborough said PayPal plans to subsidize its new service, implying merchants may pay less than they currently do for transactions done through established debit and credit payment processors. To sweeten the deal and get the world's top retailers on board, PayPal also plans