By
Bhushan Akolkar
April 23rd, 2024
The new PayPal Commerce Platform will allow businesses from all over the globe to connect with more than 277 million active PayPal users and to directly accept more than 100 currencies.
PayPal, the world’s most popular online payment service, is pleased to announce a new solution that will drive digital commerce into the next era: the PayPal Commerce Platform. The platform has been developed to satisfy the specific needs of marketplaces, e-commerce solution providers, crowdfunding platforms and more by leveraging the latest and most high-tech tools and services, so that businesses all over the globe could easily connect to the required auditory of customers and directly accept payments in various currencies.
The field of global digital commerce has been transformed greatly in recent years. The pace of non-cash transactions has significantly increased, mobile purchases has gained popularity, especially when it comes to shopping on social platforms. Regulations like GDPR and Open Banking are shaping a new environment for everyone to navigate. All these factors create a perfect opportunity for the emerging of global digital commerce service, which would help businesses all over the world to thrive in today’s fast moving world.
With PayPal Commerce Platform, businesses all over the world will be able to connect with more than 277 million active PayPal users and to directly accept more than 100 currencies. Moreover, the platform helps businesses to overcome all the possible issues related to local regulation, as it meets all the evolving demands of more than 200 markets – all countries where PayPal service successfully operates.
The platform claims high-security level, which is reached due to the advanced risk and fraud tools powered by Artificial Intelligence (AI) and machine learning informed by trillions of transactions and more than 50 petabytes of data. The platform also allows for the possibility to access more payment services that benefit businesses, such as mobile POS, business financing and the ability to offer consumer credit for purchases.
With 20 years of successful operating, PayPal currently represents itself a trustworthy service, which is considered by buyers and sellers all over the globe as safe and reliable. This is the reason why many of the world’s leading platforms, such as BigCommerce, Facebook Marketplace, Grailed, Instagram, Lightspeed, Prestashop, Shopware and Yahoo! Small Business, are now ready to utilize this trusted network through the PayPal Commerce Platform.
According to Bill Ready, EVP and Chief Operating Officer at PayPal:
“We are at a moment in time where we can finally put the same tech and capabilities in the hands of all businesses regardless of size… That’s our goal. We want to help more businesses get started, grow, and thrive in today’s complex digital world. It’s that simple.”
Last month, Becky Holton, education expert, professional journalist and blogger, included PayPal into her list of top FinTech tools, which are able to not only facilitate financial operations, but to change the financial industry forever. Now, with the announcement of its PayPal Commerce Platform, it can undoubtedly be said that the company has proved the status once again.