PayPal launches digital commerce platform
Written by Peter Walker
PayPal has launched a flexible, customisable platform that helps businesses of all sizes to grow in the complex world of global digital commerce.
The PayPal Commerce Platform will initially be available in the UK, France, Italy, Germany, Spain and the United States, bringing together a set of technologies, tools, services and financing to meet the specific needs of marketplaces and e-commerce solution providers of all sizes.
It will connect businesses with more than 277 million active PayPal users around the world, let them accept transactions in more than 100 currencies, and help them meet the demands of local regulators across the more than 200 markets in which PayPal operates. The platform also provides advanced protection against fraud using machine learning informed by trillions of transactions.
Bill Ready, executive vice president and chief operating officer at PayPal, said: “We are bringing our vision of open commerce and partnership to life with the PayPal Commerce Platform - to power commerce in a way that allows more businesses and more people to participate in the benefits of the digital economy.
“When I think about the world I want to wake up to in a decade, I don’t want there to be only one place to buy online,” he continued, adding: “I want to wake up in a world where there is a thriving, vibrant, and diverse ecosystem of merchants, sellers, entrepreneurs and businesses of all sizes.”
PayPal plans to extend the platform to more than 40 markets by the end of 2019.