PayPal launches global payment solution for small businesses

By Lucy Mazzucco

PayPal has launched Complete Payments for online small businesses in Canada, the UK, and across over 20 European markets, which aims to give consumers more options when it comes to making payments.

Photo: iStock by mladenbalinovac

Complete Payments, which was launched on March 5, 2024, is an all-in-one global solution that aims to provide consumers with more choices when it comes to making payments, whether that be through PayPal, credit and debit cards, buy now pay later solutions, Apple Pay, Google Pay, and more.

“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,” reads the announcement on PayPal’s website.

PayPal is currently integrated with various ecommerce platforms such as Adobe Commerce, Big Commerce and WooCommerce. The announcement on PayPal’s website noted that Complete Payments aims to simplify the checkout experience while securely storing payment methods.

“At PayPal, we are on a mission to revolutionize commerce, globally. Helping small businesses take advantage of global e-commerce is a key pillar," said Nitin Prabhu, vice-president, small business and financial services, PayPal, in an announcement on Newswire. "Experience and data have proven that a seamless checkout, more choice in payment types, and adding package tracking information boosts sales.

Responding to demand from our customers, we are delighted to unveil our latest cutting-edge solution tailored for small and mid-sized enterprises. Packed with features that help drive simplicity and growth, our offering is set to empower small businesses across Canada."

According to PayPal, businesses can sync order and tracking information with a new feature called Package Tracking. This can help small businesses share tracking data with PayPal which can result in less disputes with customers as well as a resolution process that is streamlined and does not require manual responses.

PayPal also noted that in terms of keeping small businesses secure from fraud, Complete Payments will continue offering Fraud Protection, Chargeback Protection, Dispute Management and Seller Protection on eligible transactions.

“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,” said Vincent Belloc, managing director, PayPal UK, in the announcement on PayPal’s website.

According to PayPal, this solution is available at competitive rates for accepting credit cards as well as other online payment methods. Small businesses now have the option to choose between flat-rate and flexible pricing which enables them to get paid the full amount up-front while also giving them a clear look into processing costs.

For over 25 years, PayPal has been revolutionizing commerce around the world and creating innovative experiences that make moving money, selling, and shopping more personalized, simple, and secure.

For more information on Complete Payments, click here.