Generative Data Intelligence

PayPal Unveils New Global Payments Solution for SMEs

Date:

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.

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.

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

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