PayPal launches new digital commerce platform
PayPal has launched its PayPal Commerce Platform, a flexible, customisable platform which will initially be available in the UK, France, Italy, Germany, Spain and the United States. It is designed to meet the specific needs of marketplaces and eCommerce solution providers of all sizes. It enables sellers to accept transactions in more than 100 currencies, simplifying compliance by helping businesses meet the demands of local regulators across the 200+ markets in which PayPal operates and provides advanced protection against fraud using Artificial Intelligence and machine learning, informed by trillions of transactions
Bill Ready, EVP 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. 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. We want to help more businesses get started, grow and thrive in today’s complex digital world.”
PayPal plans to extend the PayPal Commerce Platform to more than 40 markets by the end of 2019.