PayPal is rolling out a new e-commerce platform that provides small businesses the same access to the online shopping infrastructure as tech giants like Instagram and Facebook.
The ‘PayPal Commerce Platform' is designed to give any business access to a customizable payment solution. It brings together existing features of PayPal‘s payments business, which enable merchants to accept money online and shoppers to check out through PayPal. It also opens up backend systems providing fraud protection, compliance, and account authentication, which would be expensive and “almost impossible” for a small start-up to build on its own.
Currently, both Instagram Checkout and Facebook Marketplace are already running on PayPal's platform, and small businesses will soon be able to use the same backend tools and services.
The PayPal Commerce Platform has the following features:
- Enables global growth: helping businesses scale globally and connect with over 277 million active PayPal users and to directly accept more than 100 currencies
- Simplifies compliance: simplifying your compliance and help you meet the evolving demands of local regulators across more than 200 markets
- Provides protection: using advanced risk and fraud tools powered by Artificial Intelligence (AI) and machine learning informed by trillions of transactions
- Powers end-to-end payment offerings: accessing more payment services that benefit businesses, such as mobile POS, business financing, and the offer consumer credit for purchases
The PayPal Commerce Platform will be available in France, Germany, Italy, Spain, the United Kingdom, and the United States, which plans to expand to over 40 markets by the end of the year.
