PayPal launches advanced solutions for SME market

PayPal has launched PayPal Complete Payments for online small businesses in the UK, Canada and across more than 20 European markets.

PayPal launches advanced solutions for SME market

The solution enables small businesses to accept a range of payments including PayPal, buy now pay later solutions[1], Apple Pay[2], Google Pay[3], credit and debit cards, and alternative payment methods from around the world.

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 [4] 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.

“As a meal delivery service, it’s critical that we focus on more choice and convenience for our customers with the payment options we offer,” said Iain Blackburn, Operations Director at Gold Standard Nutrition, a meal delivery service.

“With PayPal Complete Payments, we’ve experienced greater checkout conversions and hardly any chargebacks, which is hugely beneficial to our business[5].

“We’re bringing our latest innovation to the UK market,” comments 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% lift in credit and debit card acceptance for merchants in the UK[6], which is meaningful for our customers.

Early data demonstrates that it helps boost customer conversions and drive revenue.”   

Simplifying the checkout experience

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.

Businesses can sync order and tracking information with a new feature – Package Tracking[7]. For businesses, sharing tracking data with PayPal can mean fewer customer disputes, and a streamlined resolution process that eliminates manual responses, which can reduce costs.

To help keep small businesses secure in an environment where fraud is on the rise, PayPal Complete Payments will continue to offer Fraud Protection, Chargeback Protection, Dispute Management and Seller Protection on eligible transactions.

[1] Pay in 3 is a form of credit and availability is subject to merchant status, sector and integration. Pay in 3 use is subject to status and approval and can make credit less accessible or more expensive for the consumer. See product terms for more details.

[2] Apple and Apple Pay are registered trademarks of Apple Inc.

[3] Google Pay™️ is a registered trademark of Google LLC.

In addition, PayPal Online Card Payment Services Agreement and additional Apple Pay and Google Pay terms and conditions apply to use these new features.

[4] Retail Gazette Report, “Unlocking opportunities in a challenging economic environment”, published November 2023.

[5] This content is provided for informational purposes only. Customers should always obtain independent business, tax, financial, and legal advice before making any business decision.

[6]Comparative analysis of major global payments network and PayPal internal data, from online transactions over a 12-month period between Oct 2022 – Sept 2023.

[7] Package Tracking is only available across selected payment options only.