PayPal Launches Complete Payments for SMEs:
- New Offering:
- PayPal has introduced a new solution called “PayPal Complete Payments” targeting small and medium-sized enterprises (SMEs).
- All-in-One Solution:
- PayPal Complete Payments is described as an “all-in-one” solution, allowing SMEs to accept various payment methods, including PayPal, Apple Pay, Google Pay, and buy now, pay later (BNPL) options, along with traditional credit and debit cards.
- Package Tracking Feature:
- The offering includes a new feature called “Package Tracking,” allowing sellers to sync order and tracking information with PayPal, streamlining the resolution process for potential disputes.
- Fraud and Chargeback Protections:
- In response to the growing global e-commerce fraud, PayPal Complete Payments includes fraud, chargeback, and seller protections.
- Global Availability:
- The service is currently available in 22 markets worldwide, including Canada and the UK, and supports integrations with various e-commerce platforms.
- Impact on Merchants:
- Early data suggests that PayPal Complete Payments has led to an average 4.2% increase in credit and debit card acceptance for merchants in the UK.
- Workforce Reduction:
- Earlier this year, PayPal announced plans to reduce around 9% of its workforce in 2024 as part of an effort to “right-size” the business.
