PayPal is making payments simpler than ever, delivering more value to retailers and driving significant revenue to their bottom lines. It is helping retailers drive sales by increasing Average Order Value (AOV) with the launch of a new PayPal Credit offering and also announcing consulting services that help expand product or international expansion. Its global reach into 203 markets allows PayPal to collaborate with merchants and industry partners to create better and secure experiences for people online, in-store and on mobile devices.
A Clear and Simple Credit Option
PayPal continues to move credit more towards the center of its brand. PayPal Credit and the ability to pay in monthly payments is another example of how PayPal working hard to bring value to merchants and create better credit offerings that are simple, transparent and affordable and help meet the demand for consumer credit. For the first time, by leveraging new credit models retailers can customize PayPal Credit to offer a monthly payment option and decide on the number of months and interest rate that works best for their customers. They can also offer interest free options to customers shopping online who are approved in minutes.
The new PayPal Credit feature works within the open-ended construct of the PayPal Credit product, allowing customers to divide their larger purchases into substantially equal monthly payments. This gives consumers more control and helps them to better manage their budget. We learned through the launch of PayPal Working Capital that people appreciate knowing the full amount that they are being charged in advance. Providing customers with clear and flexible credit terms helps retailers to drive sales by increasing AOV and reducing shopping cart abandonment. And, businesses know their customers best, so it makes sense that they should have the freedom to choose which credit options they want to offer. Merchants are paid immediately and PayPal settles with the consumer.
Enhancing Value Through Our Expertise: PayPal Business Consulting
PayPal has deep expertise working with retailers around the world and access to a wealth of data that can help a business make better and smarter decisions. PayPal’s Business Consulting offers expertise to help PayPal merchants add value, understand the business landscape and provide customer-focused services to help drive growth.
Business Consulting services are provided in a “customer-centric” way—and the primary goal is to give our business partners the best shot at long-term success and growth from pre-engagement through post-launch. By helping merchants leverage best practices (e.g., reducing cart abandonment, improving conversion, making sales internationally) and offering custom engineered products— PayPal eliminates friction and jumpstart sales.