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PayPal launches payment suite for SMEs

PayPal has launched a complete suite of payment processing tools for online small businesses in the UK, Canada and across more than 20 European markets.

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PayPal launches payment suite for SMEs

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This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.

The PayPal Complete Payments package enables small businesses to accept an expanded range of payment instruments including PayPal, buy now pay later, Apple Pay, Google Pay, credit and debit cards, and alternative payment methods from around the world.

“We’re bringing our latest innovation to the UK market,” says Vincent Belloc, managing director, PayPal UK. “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 per cent 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.”

The package comes complete with direct integrations with several popular merchant ecommerce platforms including Adobe Commerce, Big Commerce and WooCommerce, making it easier for firms to get up and running.

To drive a simpler shopping experience for consumers, and to help small businesses corral conversions and repeat buyers, SMEs can securely store customer payment methods in the PayPal vault for future purchases.

Businesses can also sync order and tracking information with a new feature, Package Tracking, leading to fewer customer disputes, and a streamlined resolution process that eliminates manual responses. Fraud protection, chargeback protection, dispute management and seller protection are all baked in.

Small businesses adopting the package can choose between flat-rate pricing and flexible pricing, which helps them get paid the full amount up-front and gives them a transparent view into processing costs.

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