On Monday PayPal announced the availability of the PayPal Commerce Platform, a service to designed for marketplaces, eCommerce solutions providers, crowdfunding platforms, and more.
The PayPal Commerce Platform is a customizable collection of features to connect 277 million active users to complete transactions on a trusted payments platform that is already available on some of the world’s leading platforms.
The features the new platform brings to the table are:
- Enables Global Growth: helping businesses scale globally and connect with over 277 million active PayPal users and directly accept over 100 currencies.
- Simplifies Compliance: we simplify your compliance and help you meet the evolving demands of local regulators across the 200+ markets we operate in.
- Provides Protection: with advanced risk and fraud tools powered by Artificial Intelligence (AI) and machine learning informed by trillions of transactions and over 50 petabyte of data.
- Powers End-to-End Payment Offerings: access to more payment services that benefit businesses, such as mobile POS, business financing and the ability to offer consumer credit for purchases.
While eBay Downplays PayPal – Others Jump In
As eBay continues to expand its own payments solution, PayPal is signing up with many global marketplace and eCommerce solutions brands to build out its trusted transactions network.
After the split from eBay, PayPal embarked on a strategy to become less dependent on eBay’s transaction volume realizing that over time more eBay transactions will be managed by its own payments platform.
The good news for PayPal users is that as more marketplaces empower sellers to accept PayPal, buyers will continue to use PayPal for their purchases. It is a trust payment method they know.
For small business sellers that use multiple marketplaces it means maintaining a PayPal account will be a necessity even as eBay may try to convert buyers to its own payments platform.
The PayPal Commerce Platform will be available in the US, UK, France, Germany, Italy, and Spain, and PayPal plans to expand it to over 40 markets by the end of the year.
READ MORE: PayPal Comes Back To eBay