From top-notch fraud and chargeback protection, small businesses can take advantage of this new solution to help reduce the risk of financial losses and time spent on managing disputes.
PayPal Complete Payments launches today for online small businesses in the UK, Canada and across more than 20 European markets. „The solution enables small businesses in the UK to accept a range of payments including PayPal, buy now pay later solutions, Apple Pay, Google Pay, credit and debit cards, and alternative payment methods from around the world.” according to the press release.
Small businesses face a myriad of challenges from finding new customers and managing cashflow to driving sales. Giving shoppers more choice in how they can pay can help turn prospects into customers and grow sales. A recent Retail Gazette report (1) found 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.
“We’re bringing our latest innovation to the UK market,” said 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 (2), which is meaningful for our customers. Early data demonstrates that it helps boost customer conversions and drive revenue.”
PayPal has integrations with several ecommerce platforms – including Adobe Commerce, Big Commerce and WooCommerce – which make it easier for their customers to quickly take advantage of this new solution (3).
„This new solution enables eligible small businesses to allow their customers to securely store their payment methods in the PayPal vault for future purchases. This provides a seamless shopping experience for consumers, and helps small businesses drive conversions and repeat buyers.” the company concludes.
1 Retail Gazette Report, “Unlocking opportunities in a challenging economic environment”, published November 2023.
2 Comparative analysis of major global payments network and PayPal internal data, from online transactions over a 12-month period between Oct 2022 – Sept 2023.
3 Not all ecommerce partners listed have integrated all new features at this time.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
