PayPal has introduced “PayPal Complete Payments“, a payment solution that brings together a universal set of payment methods for the UK, Canada, and 20 + European countries. The solution aims to empower small businesses to accept various payments. This comprises PayPal, installment schemes, as well as “buy now, pay later,” Apple Pay, Google Pay, credit and debit card, and alternative payment methods, amongst others.
PayPal offers a new global payment solution for SMEs
The novel solution is designed to help small businesses deal with issues like difficulty obtaining customers, problems in cash flow management, and low sales. Up-to-date research states that if shops and other retailers offer their consumers a payment method they prefer, sales may increase by 43% compared to the rate of abandonment of these customers’ shopping carts.
Vinny Belloc, Managing Director of Paypal UK, added that credit and debit card acceptance has witnessed an average of 4.2% increase across UK merchants who trade through Paypal Complete Payments, thereby showing a remarkable impact on customer conversions and revenue generation.
PayPal’s competition with other players
Furthermore, the solution is fully integrated with some of the most popular e-commerce platforms like Adobe Commerce, Big Commerce, and WooCommerce, which means that small businesses can store their customer payment methods safely for future purchases.
“Pay with PayPal Complete Payments has been a boon for us as we have had a rise in the payment conversions, and as a result, have hardly experienced any chargeback, a huge headache for many e-commerce merchants.” Iain Blackburn, Operations Director at Gold Standard Nutrition, explained. He is one of the many sip-and-morsel owners implementing the latest PayPal solution in the town.
PayPal’s move to help small businesses
While small businesses during the rapidly changing landscape of the e-commerce market are trying to offer their customers the opportunity to choose their desired payment method that fits their needs and offers ease and convenience in payment, PayPal Complete payment is the ultimate and user-friendly option for merchants interested in developing their payment acceptance capabilities.