PayPal signs deals with 15 retailers

  • PayPal has struck deals with 15 retailers including Toys R Us, J C Penney and Barnes & Noble enabling consumers to pay for purchases with their cellphones.

    For retailers, the service has the potential to attract more shoppers and help reduce costs associated with credit card payments.

    For PayPal, which is owned by eBay, the expansion into physical stores could see its business spread past its online roots.

    PayPal, founded in 1998, has made it increasingly easy for people to make secure online payments.

    It grew to prominence on eBay's online marketplace, resulting in eBay acquiring the business in 2002. Since then, it has been used by hundreds of e-commerce websites.