PayPal ‘Complete Payments’ has launched for online small businesses in the UK, Canada and various European markets. The solution enables small businesses to accept a range of payments including PayPal buy now, pay later solutions, credit and debit cards, and alternative global payment methods.
Small businesses face a wide range of challenges from finding new customers and managing cashflow to driving sales. Giving shoppers more payment methods to choose from can help turn prospects into customers and grow sales.
In fact, a Retail Gazette recently reported that 43 per cent of consumers in the UK are more likely to complete checkout, rather than abandon their cart – if the retailer offers their preferred payment method.
Vincent Belloc, managing director of PayPal UK, explained the need for the solution: “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 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.”
This new solution enables eligible small businesses to enable their customers to securely store their payment methods in the PayPal vault for future purchases. This provides a seamless shopping experience for consumers, and also helps small businesses drive conversions and repeat buyers.
PayPal has integrations with several e-commerce platforms, including ‘Adobe Commerce’, ‘Big Commerce’ and ‘WooCommerce’, which make it easier for customers to take advantage of the new solution.
Supporting businesses and keeping them safe
For Iain Blackburn, operations director at meal delivery service Gold Standard Nutrition, the service has provided essential support: “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. With PayPal Complete Payments we’ve experienced greater checkout conversions and hardly any chargebacks, which is hugely beneficial to our business.”
Businesses can sync order and tracking information with a new ‘Package Tracking’ feature. For businesses, sharing tracking data with PayPal can mean fewer customer disputes, as well as 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 also offers fraud and chargeback protection, dispute management, and seller protection on eligible transactions.
This solution is available at competitive rates for accepting credit cards and other payment methods online. Small businesses can now choose between flat-rate pricing and flexible pricing, which helps them get paid the full amount up-front and also gives them a transparent view of processing costs.
