PayPal has repackaged its payment tools to provide an all-in-one solution meant to give small merchants more flexibility in how they receive payments.
The new offering, called PayPal Payments, is a tiered structure that rolls in online payments, mobile payments, in-person payments via PayPal Here, invoicing capability and debit card access to PayPal funds.
Merchants can choose from three service packages that range in price from free to $30 a month, plus transaction fees, which are the same as before. All packages include the full range of multichannel payment options, but the higher tiers let merchants have more control over the payment flow.
“As we’ve been saying for a while now, technology is changing the way people shop and pay more than any time in history,” notes Ed Eger, senior vice president and general manager of PayPal Americas. “Small businesses should be focused on making their customers happy, not spending time worrying about handling the complex task of online, offline and multichannel payments in this new shopping environment.”
As part of the change, PayPal has dropped the term “website” from the name of its U.S. products, a move the company says reflects the multichannel evolution of the payments industry. So, Website Payments Pro is now known as PayPal Payments Pro, for example.
The change was announced today on the PayPal Blog. The new service options are detailed in this chart.