PayPal today launched a unique solution, called company in Box, targeted at bringing more U.S. small businesses to its payments platform. The service, that was developed in partnership with WooCommerce and Xero, offers merchants a suite of tools for running their internet businesses, including an online storefront, accounting tools, the power to utilize for working capital from PayPal and, needless to say, support for using payments either online or offline, via PayPal. Business in a Box is mainly directed at first-time business people who currently understand what they wish to sell and possess a roadmap in mind, also at founded offline businesses that are looking for to really make the move online. Often, these business people would otherwise seek out an e-commerce platform, like Shopify, Magento, BigCommerce or WooCommerce, to establish their online presence and take advantage of other add-ons that may assist all of them with other areas of these business, like running promotions, marketing, order management, shipping, social news and more. PayPal is dealing with these sorts of e-commerce platforms, as adding a PayPal switch to online shops is one thing many company owners want to do. But by establishing the state partnership with one of many players when you look at the room, WooCommerce, PayPal gets more skin into the game. This can enable the business to also better promote its other offerings, like its financing service, PayPal Working Capital.
The company also noted today that PayPal Working Capital has helped more than 115,000 businesses access that is worldwide than $3 billion in loans and payday loans because the service launched in 2013. Business in a Box, but, is much more of a smartly packaged group of solutions for businesses under the PayPal branding instead than something entirely new. Business people who join the ongoing service will get discounts from PayPal’s partners as part of signing up. For instance, WooCommerce is giving out yet another 90 days with a one-year Pressable subscription, and offering its plugin for free, while Xero is providing away a 30-day test, one-hour consultation with a Xero advisor and crediting users’ accounts with $100. If these appear to be fairly promotions that are standard at acquiring new customers, that is because these are typically. Business in a Box is not really about the cost savings element, but alternatively the integration with PayPal. Most of the partner solutions are integrated with customers’ PayPal Business accounts, so every thing works together. For newcomers to online businesses, there’s also the coziness in knowing why these are PayPal-supported and solutions that are recommended. While business customers can pick and choose which solutions they wish to utilize, the advantage in using those through the suggested partners is that they’ll then manage to track almost all their product sales, costs and invoices in place to see a real-time view of the finances. More broadly, the offering that is new meant to help merchants see PayPal much more than simply a payments provider, but rather a business that will assist them to acquire customers, handle their cash flow and develop their business — including dealing with new financing, if required.Source - www.techmanos.com
The move comes after having a solid Q1 for PayPal, which ended the quarter with 203 million customer that is active, 16 million of which had been merchants.
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