PayPal has launched PayPal Complete Payments, a new all-in-one global payment solution that enables small businesses (SMEs) in the UK, Canada and over 20 European markets to accept various payment methods.
These include PayPal, buy now, pay later options, Apple Pay, Google Pay, credit and debit cards, and alternative payment methods from around the world.
PayPal Launches New All-In-One Global Payments Solution for SMEs
The new solution aims to help SMEs address challenges such as finding new customers, managing cash flow and driving sales. According to a recent report, 43% of UK consumers are more likely to complete their purchase rather than abandon their cart if the retailer offers their preferred payment method.
“PayPal Complete Payments has so far resulted in an average 4.2% lift in credit and debit card acceptance for merchants in the UK, which is meaningful for our customers,” said Vincent Belloc, the Managing Director of PayPal UK. “Early data demonstrates that it helps boost customer conversions and drive revenue.”
PayPal Complete Payments integrates with several major e-commerce platforms, including Adobe Commerce, Big Commerce and WooCommerce. It also enables SMEs to securely store customer payment methods to simplify the checkout experience for future purchases.
“With PayPal Complete Payments, we’ve experienced greater checkout conversions and hardly any chargebacks, which is hugely beneficial to our business,” said Iain Blackburn, Operations Director at the Gold Standard Nutrition. He is one of many SME’s owners that has implemented the new PayPal solution.
The launch of PayPal Complete Payments comes as SMEs increasingly look for ways to provide their customers more payment flexibility and convenience in an increasingly competitive e-commerce landscape. PayPal aims for the new solution to be a comprehensive, easy-to-implement option for small merchants to expand their payment acceptance capabilities.
PayPal’s Solid Q4 Results Overshadowed by Conservative Outlook
Last month, PayPal reported strong results for the fourth-quarter of 2023, with adjusted earnings per share of $1.48 beating analysts’ estimates of $1.36 by LSEG (formerly Refinitiv). The company’s net quarterly revenue grew 9% year-over-year to $8.03 billion, surpassing the street expectation of $7.87 billion.
However, PayPal’s projections for the ongoing financial year fell short of anticipated levels. For the first quarter of 2024, the company forecasts mid-single-digit growth in year-over-year earnings per share, contrasting with analysts’ consensus expectation of 8.7%. For the full year, PayPal anticipates earnings per share of $5.10, lower than the street expectation of $5.48.
In other developments, PayPal Ventures, the company’s venture capital arm, invested in Mesh, a financial solution platform that aims to simplify digital asset transfers, crypto payments, and account aggregation for businesses and individual users. This move underscores PayPal’s recognition of the growing importance of embedded finance and the potential of digital assets in the evolving financial services industry.
Additionally, PayPal appointed Simon Bladon, the former Managing Director of Customer and Digital at Barclays, as its new UK CEO, subject to regulatory approval. Bladon will also assume the position of Vice President of Global Entity Management at PayPal.
Amidst these developments, a cybersecurity study by Surfshark revealed concerning data privacy practices among finance apps, including PayPal and the trading app Robinhood. The analysis found that these apps collect more user data on average than other app categories, raising privacy concerns among consumers.
As PayPal navigates the ever-changing digital payments landscape, it will need to strike a balance between growth, innovation, and addressing privacy and security concerns to maintain its position as a leading player in the industry
PayPal has launched PayPal Complete Payments, a new all-in-one global payment solution that enables small businesses (SMEs) in the UK, Canada and over 20 European markets to accept various payment methods.
These include PayPal, buy now, pay later options, Apple Pay, Google Pay, credit and debit cards, and alternative payment methods from around the world.
PayPal Launches New All-In-One Global Payments Solution for SMEs
The new solution aims to help SMEs address challenges such as finding new customers, managing cash flow and driving sales. According to a recent report, 43% of UK consumers are more likely to complete their purchase rather than abandon their cart if the retailer offers their preferred payment method.
“PayPal Complete Payments has so far resulted in an average 4.2% lift in credit and debit card acceptance for merchants in the UK, which is meaningful for our customers,” said Vincent Belloc, the Managing Director of PayPal UK. “Early data demonstrates that it helps boost customer conversions and drive revenue.”
PayPal Complete Payments integrates with several major e-commerce platforms, including Adobe Commerce, Big Commerce and WooCommerce. It also enables SMEs to securely store customer payment methods to simplify the checkout experience for future purchases.
“With PayPal Complete Payments, we’ve experienced greater checkout conversions and hardly any chargebacks, which is hugely beneficial to our business,” said Iain Blackburn, Operations Director at the Gold Standard Nutrition. He is one of many SME’s owners that has implemented the new PayPal solution.
The launch of PayPal Complete Payments comes as SMEs increasingly look for ways to provide their customers more payment flexibility and convenience in an increasingly competitive e-commerce landscape. PayPal aims for the new solution to be a comprehensive, easy-to-implement option for small merchants to expand their payment acceptance capabilities.
PayPal’s Solid Q4 Results Overshadowed by Conservative Outlook
Last month, PayPal reported strong results for the fourth-quarter of 2023, with adjusted earnings per share of $1.48 beating analysts’ estimates of $1.36 by LSEG (formerly Refinitiv). The company’s net quarterly revenue grew 9% year-over-year to $8.03 billion, surpassing the street expectation of $7.87 billion.
However, PayPal’s projections for the ongoing financial year fell short of anticipated levels. For the first quarter of 2024, the company forecasts mid-single-digit growth in year-over-year earnings per share, contrasting with analysts’ consensus expectation of 8.7%. For the full year, PayPal anticipates earnings per share of $5.10, lower than the street expectation of $5.48.
In other developments, PayPal Ventures, the company’s venture capital arm, invested in Mesh, a financial solution platform that aims to simplify digital asset transfers, crypto payments, and account aggregation for businesses and individual users. This move underscores PayPal’s recognition of the growing importance of embedded finance and the potential of digital assets in the evolving financial services industry.
Additionally, PayPal appointed Simon Bladon, the former Managing Director of Customer and Digital at Barclays, as its new UK CEO, subject to regulatory approval. Bladon will also assume the position of Vice President of Global Entity Management at PayPal.
Amidst these developments, a cybersecurity study by Surfshark revealed concerning data privacy practices among finance apps, including PayPal and the trading app Robinhood. The analysis found that these apps collect more user data on average than other app categories, raising privacy concerns among consumers.
As PayPal navigates the ever-changing digital payments landscape, it will need to strike a balance between growth, innovation, and addressing privacy and security concerns to maintain its position as a leading player in the industry
