SAN JOSE — PayPal Holdings has added new features to its complete payments solution for small businesses, including the ability to accept Apple Pay. The solution enables small businesses to accept a range of payments including PayPal, Venmo and PayPal Pay Later products.
Giving customers more choice in how they can pay can help drive checkout. Fifty-nine percent of respondents of a recent Ponemon Institute study said their customers frequently abandon their shopping cart when their preferred payment method is unavailable. PayPal’s complete payments solution also enables small businesses to process card payments directly on their website, and customize the checkout experience to match the look and feel of their brand, all through a single integration.
PayPal will also give small businesses access to four new features to help them drive payment acceptance and enhance how they run their business. This will include Apple Pay as a checkout option, the ability for customers to save payment methods with the PayPal vault for faster future checkout, real-time account updater to help customers keep their payment methods up to date, and access to IC++ pricing.
“The retail landscape is constantly evolving and SMBs need access to a range of tools to help them drive sales, cut costs and protect themselves and their customers from fraud,” said Nitin Prabhu, VP, Merchant Experiences and Payment Solutions, PayPal. “With our complete payments solution, small businesses can get access to all of these tools with one integration.”
Small businesses that are leveraging PayPal’s complete payments solution will now be able to accept Apple Pay alongside a variety of other popular payment options. Apple Pay offers their customers an easy, secure and private way to pay online and in-apps when using Apple devices.
To help keep small businesses secure in an environment where fraud is on the rise, PayPal’s complete payments solution will continue to offer Fraud Protection, Chargeback Protection and Seller Protection, on eligible transactions. Processing fees for card payments, alternative payment methods and other digital wallets, are just 2.59% + 49 cents. Pricing for PayPal payments is 3.49% + 49 cents.
