PayPal Won’t Get Beat Sitting Down
PayPal (NASDAQ:EBAY) is shedding the word “website” from its vocabulary. The company has announced a single channel for businesses to accept payments done across multiple platforms. The electronic payments facilitator launched its PayPal Payments service on Wednesday, offering businesses tools for consolidating online, in-person, and mobile payments.
“We’ve talked about the blurring of online, offline and mobile, but we’ve talked about that in the large enterprise context,” said Peter Karpas, the company’s North American vice president of customer engagement. “Now, we’re extending that to heart of the company which is small business.”
PayPal will remove the word “website” from all its products, including its services Website Payments Standards and Website Payment Pro. Payments will be accepted from PayPal accounts as well as by credit card or check using the new PayPal Here app. The app lets businesses accept on-the-spot payments and allows checks by taking a photograph.
The company also added a new tier between its Standard and Pro offerings called “Advanced,” which targets those businesses that want more than the free product but don’t want the Pro’s coding headaches. While the Standard option is offered free of cost, Advanced and Pro are priced at $5 and $30 respectively.
The company processed $118 billion from more than 100 million users in 190 countries last year, including $4 billion in mobile payments.
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