Office Depot Second Chain to Give PayPal Point-of-Sale a Try

Office Depot (NYSE:ODP) is testing the new PayPal (NASDAQ:EBAY) point-of-sale system in
some of its stores, according to a top executive in a Reuters report. This follows news that PayPal is expanding its tests of the in-store payment system in Home Depot (NYSE:HDstores, with an eye toward having it in all Home Depot stores by March, said the report.

The system lets customers pay for items using just their telephone number and a PIN. No card is needed. PayPal has mentioned plans to offer the service in 20 major retail chains by the end of the year, but the names of other participating companies have not been disclosed.

“It’s at this point in a small number of stores … because there are still some rough spots in that experience,” said Kevin Peters, president of Office Depot’s North American unit.”There are some limitations on who can use it, service carriers that support that.”

Here’s how these stocks are reacting to the news:

Office Depot, Inc. (NYSE:ODP): ODP shares recently traded at $2.64, up $0.04, or 1.54%. They have traded in a 52-week range of $1.75 to $6.18. Volume today was 501,963 shares versus a 3-month average volume of 4,126,620 shares. The company’s trailing earnings are $-0.22 per share.

eBay Inc. (NASDAQ:EBAY): EBAY shares recently traded at $32.27, up $0.34, or 1.06%. They have traded in a 52-week range of $26.86 to $35.35. Volume today was 2,982,149 shares versus a 3-month average volume of 11,058,300 shares. The company’s trailing P/E is 13.12, while trailing earnings are $2.46 per share.

The Home Depot, Inc. (NYSE:HD): HD shares recently traded at $44.60, up $0.09, or 0.2%. They have traded in a 52-week range of $28.13 to $45.50. Volume today was 2,833,795 shares versus a 3-month average volume of 10,836,100 shares. The company’s trailing P/E is 19.22, while trailing earnings are $2.32 per share.