Fareway Grows Payment Options with Acceptance of PayPal and Venmo In-Store

Rhea-AI Summary

Blackhawk Network has announced that PayPal and Venmo are now accepted payment methods at all Fareway locations, which includes 129 stores. This initiative aims to enhance customer service by offering digital payment options in response to growing consumer demand. Customers can pay via QR codes using either app, accessing various payment methods like debit and credit cards. According to Blackhawk, accepting digital payments can increase shopper loyalty, with 63% of consumers preferring retailers that offer these options.

Positive

• Increased payment options at 129 Fareway stores may drive customer traffic.
• Acceptance of PayPal and Venmo aligns with growing consumer demand for digital payment options.

Negative

• None.

Global branded payments company, Blackhawk Network, is enabling the technology to broaden PayPal and Venmo payment acceptance at all Fareway locations

PLEASANTON, Calif.--(BUSINESS WIRE)-- Fareway announced that PayPal and Venmo are now accepted forms of payment at the company’s 129 store locations. With the continued growth of digital payment adoption across the country, Fareway and Blackhawk Network will work with PayPal and Venmo to bring in-store digital payments to the Midwest grocer.

Fareway customers are now able to pay using PayPal or Venmo QR codes at checkout. Customers simply open either the PayPal or Venmo mobile app and click the "Scan" button and select the 'show to pay' option. PayPal customers will be able to pay using stored debit or credit cards, bank accounts, PayPal balance, or PayPal Credit. Venmo customers can pay using their stored debit or credit cards, bank account, Venmo balance or Venmo Credit Card for eligible customers.

“This new technology expands on Fareway’s commitment to provide the best in customer service, with personalized and efficient options for our customers,” said Mike McCormick, Chief Retail Officer at Fareway. “With the rise in demand for mobile payments and digital options, we’re confident that our partnership with Blackhawk and PayPal will be positive for both customers and our company.”

“As mobile payment adoption continues to climb, it’s become increasingly important for retailers to meet the demands of a changing consumer, helping to drive loyalty and growth,” said Brett Narlinger, head of global commerce at Blackhawk Network. “Helping our partners like Fareway to continue to grow and expand their digital payment capabilities is a core focus for Blackhawk.”

Research¹ from Blackhawk Network shows digital wallet and payments are driving an increase in shopper loyalty as 63 percent of respondents report they are more likely to shop at a retailer if they accept the digital payments they use, and 73 percent of respondents say they want to be able to pay the same way they pay online and in-store¹.

As part of Blackhawk’s research, PayPal is the number one digital payment tool shoppers intend to use in 2021, with 60 percent of surveyed digital payment users planning to continue using PayPal once shopping returns to pre-pandemic levels¹.

Known for being a pioneer in bringing together disparate payments and shopping experiences, Blackhawk is a driving force in innovating tomorrow’s digital experiences. To learn more about Blackhawk Network’s suite of innovative payment solutions, please visit blackhawknetwork.com.

About Blackhawk Network:

Blackhawk Network delivers branded payment solutions through the prepaid products, technologies and network that connect brands and people. We collaborate with our partners to innovate, translating market trends in branded payments to increase reach, loyalty and revenue. We reliably execute security-minded solutions worldwide. Join us as we shape the future of global branded payments. Learn more at www.blackhawknetwork.com.

About Fareway

Fareway Stores, Inc. is a growing Midwest grocery company currently operating 129 stores in a six-state region. Fareway’s mission is to provide the highest quality products, while treating customers like family, and valuing dedicated employees. Its stores are known for their unmatched, full-service meat departments, farm-fresh produce, and exceptional to-your-car customer service. Fareway is a family-owned business, recognized as a top 10 employer in Iowa, and has more than 12,000 total employees. Visit Fareway.com for more information or shop online by visiting Shop.Fareway.com.

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¹ The “Global Digital Payments” study is based on the findings of an internet-based survey conducted by Leger on behalf of Blackhawk Network between March 2 and April 5, 2021. The sample size included over 13,000 respondents in nine countries.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220310005139/en/

Geoff Renstrom

208-871-9280

geoff@fletchergroupllc.com

Source: Blackhawk Network

FAQ

What recent payment options were added at Fareway locations?

Fareway now accepts PayPal and Venmo payments at all its 129 stores.

How can customers use PayPal and Venmo at Fareway?

Customers can pay using QR codes through the PayPal or Venmo mobile apps.

Why did Fareway add PayPal and Venmo as payment options?

The addition is aimed at improving customer service and meeting the rise in demand for mobile payments.

What percentage of consumers prefer digital payment options?

63% of consumers report they are more likely to shop at retailers that accept their preferred digital payments.

What is the stock symbol for PayPal?

PayPal's stock symbol is PYPL.