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EcommerceBytes-NewsFlash, Number 2775 - April 04, 2012 - ISSN 1539-5065    0 of 5

PayPal Consolidates and Rebrands Its Products

By Ina Steiner
EcommerceBytes.com
April 04, 2012




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PayPal is consolidating and rebranding its products and is embracing mobile features. The company is comparing the move to when Apple dropped the word "computer" from its name in 2007 to represent its move beyond the Mac to a comprehensive consumer electronics company.

PayPal is dropping the word "website" from its U.S. product names ("Website Payments Standard" and "Website Payments Pro") and is renaming its service "PayPal Payments" - one business product with "three tiers of capability." The new PayPal Payments enables businesses to accept payments online, in-person and from mobile devices.

"The name change represents our move away from our online heritage to the future of PayPal and the multi-channel nature of payments in the new retail environment," wrote SVP and General Manager of PayPal Americas Ed Eger on the PayPal blog on Wednesday.

PayPal's official insider guide (Peachpit 2012) lists seven existing PayPal products: Website Payments Standard (which provides small sellers with a free shopping cart); Website Payments Pro (which can be used with third-party shopping carts); Payflow Link (for merchants with a shopping cart and who already have a merchant credit card account); Payflow Pro (for merchants with a merchant credit card account who want to keep customers on their website for all processing); Express Checkout (for merchants who want to add PayPal payments to existing credit card processing); Virtual Terminal (for merchants who accept telephone or fax orders); and Online Invoicing.

The new PayPal Payments consolidates those seven products into three: Standard (no monthly fee), Advanced ($5/month) and Pro ($30/month). The three products are detailed on this PayPal page. Now, all three new products allow merchants to send invoices, while merchants who wish to accept phone and fax orders must subscribe to the Pro product.

In addition, all products have in-person and mobile features, such as PayPal's free card swiper ("accept card payments in person with our new mobile plug-in card reader. for your iPhone, iPad, or Android device") and the ability to accept checks ("now you can deposit your customers' checks the moment you receive them. Just snap a picture of the check and transfer it into your account with your PayPal Mobile App with the camera on your mobile device"). The invoicing feature comes with a Pay Now button that customers can use to pay, even from a mobile device.

More information about PayPal Payments is available on the PayPal website.

About the author:

Ina Steiner is co-founder and Editor of EcommerceBytes and has been reporting on ecommerce since 1999. She's a widely cited authority on marketplace selling and is author of "Turn eBay Data Into Dollars" (McGraw-Hill 2006). Her blog was featured in the book, "Blogging Heroes" (Wiley 2008). Follow her on Twitter at @ecommercebytes and send news tips to ina@ecommercebytes.com.

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