PayPal Launches Global Payments Solution for SMEs
PayPal has launched PayPal Complete Payments, an all-in-one payments solution that allows small and medium businesses (SMBs) to accept PayPal payments, Apple Pay, Google Pay, credit and debit cards as well as alternative payment methods.
With PayPal Complete Payments, SMBs can be empowered with its widest range of payment options for businesses yet, driving conversion and customer retention rates upwards for business.
PayPal Complete Payments: The all-in-one solution
In addition to offering SMB customers a wide range of payment options, PayPal Complete Payments comes with leading fraud and chargeback protection, helping reduce the risk of financial losses and time spent on managing disputes for SMBs.
It will also allow SMBs to accept Buy Now Pay Later (BNPL) payment options, which, today, are among the leading payment methods of choice for consumers.
Indeed, we charted the rise of BNPL as a revolutionary in e-commerce in our March 2024 edition, revealing that – by the start of 2024 – over 50% of adults in the UK alone had used BNPL services.
PayPal Complete Payments has now launched in the UK, as well as across more than 20 European markets and Canada.
It can immediately be leveraged by PayPal’s ecommerce partners, which include the likes of Adobe Commerce, BigCommerce and WooCommerce.
For ecommerce platforms and the SMBs that trade on them, offering a customer’s payment method of choice will be vital for growth.
A recent Retail Gazette report found that 43% of consumers in the UK are more likely to complete checkout, rather than abandon their cart – if the retailer offers their preferred payment method.
The potential impact of PayPal Complete Payments on SMBs could, therefore, be significant.
Vincent Belloc, Managing Director at PayPal UK, says: “We’re bringing our latest innovation to the UK market.
“With advanced features, our new solution enables simplicity and helps drive growth for online small businesses.
"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. Early data demonstrates that it helps boost customer conversions and drive revenue.”
PayPal Complete Payments is available at competitive rates, and small businesses can choose between flat-rate pricing and flexible pricing, helping them get paid the full amount up-front and giving them a transparent view of processing costs.
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