PayPal is introducing a new offering that will enable small and medium-sized enterprises (SMEs) to accept a wider range of payments online.
Described as an “all-in-one” solution, PayPal Complete Payments will enable merchants to offer a range of different alternative payment methods within their online checkouts, including PayPal payments, Apple Pay, Google Pay and buy now, pay later (BNPL) solutions, alongside traditional credit and debit cards.
When transactions are completed, sellers can also sync the order and tracking information with PayPal through a new feature called Package Tracking, which the US-based payments giant says will result in “a streamlined resolution process” if disputes arise, supported by the firm’s pre-existing Dispute Management feature.
Amid rising levels of e-commerce fraud globally, PayPal Complete Payments will also offer fraud, chargeback and seller protections.
The new service is currently available to sellers in 22 markets worldwide, including Canada and the UK, and supports integrations with various e-commerce platforms, such as Adobe Commerce and WooCommerce.
Vincent Belloc, managing director of PayPal UK, says PayPal Complete Payments “enables simplicity and helps drive growth for online small businesses”, claiming that it has resulted in an average 4.2% lift in credit and debit card acceptance for merchants in the UK, according to early data.
Earlier this year, PayPal announced it is set to axe around 9% of its workforce over 2024 in an effort to “right-size our business”.
Source: Fintech Futures
