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March 5, 2013

Who has the ability to knock down the walls of oligopoly which have benefited Mastercard, Visa, American Express and Discover? PayPal. They could become an industry disrupter. And the SME (small medium sized enterprises) may be a beneficiary.

Retail Accounting

PayPal unveiled new deals with a chain of fuel stations and a grocery store operator, as the payments division of eBay Inc tries to expand its service further into physical retail locations. PayPal said it signed payment deals with Mapco Express, a unit of Delek US Holdings which runs more than 440 retail fuel and convenience stores, and Spartan Stores, which distributes groceries to more than 400 locations, including 97 of its own stores.

Mapco

That helped bring the number of PayPal physical, or brick-and-mortar, retail partners to 23, including Abercrombie & Fitch, Home Depot and J.C. Penney.

PayPal, a leading online payments network, is trying to expand into the physical retail world, a much larger market. Fuel stations and grocery stores are important partners for PayPal because consumers visit these types of retailers much more regularly.

PayPal is also working on agreements with drugstore chains, according to Don Kingsborough, theā€¦

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