Thursday, October 18, 2012

PayPal's Plans for Growth: Great News for Online Sellers

Recent moves have allowed PayPal to include processing payments for traditional brick-and-mortar businesses in addition to their existing payment processing services offered to online businesses. This single development is great news for those businesses without an online presence or website. Visa, MasterCard and American Express now have an ambitious competitor. PayPal is positioned to take over the payment processing industry and the outlook for on-line sellers is optimistic. The recent move by consumers away from cash purchases has only helped make online transactions more seamless - and that is great news for those who buy online. PayPal will now be able to offer an easier way to pay than the traditional credit card companies.

In recent years, Visa and MasterCard have enjoyed an influx of revenue from consumers who prefer swiping a credit card over paying with cash. Growth for both of these companies over the past 4 years has been phenomenal. Just as plastic replaced the use of cash, PayPal has positioned itself to replace the credit card.. Take into consideration their recent partnership with Discover Financial Services and you can see what is likely to happen next for both offline and online sellers.

If everything goes as planned with a new partnership eBay has made with Discover Financial Services, buyers will be able to use PayPal to pay for goods and services in over 7 million stores in the U.S. Consider there are already over 113 million PayPal users who moved almost $120 billion in cash through PayPal last year, and the numbers can make any online businessperson giddy with anticipation. The ambitious folks at PayPal want to make plastic credit cards a thing of the past.

The partnership with Discover will allow PayPal to provide today's online and offline consumers a completely seamless shopping experience anywhere. PayPal believes that consumers see shopping as a delight but paying is a big negative. PayPal intends to change that perception by making it easier for consumers to pay.

For PayPal, the goal has always been to create a safer payment solution that assists both consumers and merchants in having trouble-free interactions. This goal of seamless interaction for seller and buyer is designed to benefit both online transactions and more traditional in-store transactions. If you sell goods or services online, PayPal has just made doing business a whole lot easier.

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