PayPal launched a new website designed to educate small businesses on global selling. PayPal Passport provides country-specific guidance on seasonal sales peaks, including holidays and events; cultural customs, taboos and trends; currency exchange and fees; and customs procedures and taxes. The idea clearly being that merchants will use PayPal to process payments for the additional international orders they receive as a result of what they learn on the site.
And when sellers expand internationally, PayPal benefits not only in increased volume, but because cross-border payments are more profitable for PayPal.
The pending departure of PayPal President David Marcus, who leaves for a new job at Facebook at the end of June, doesn’t appear to be slowing down the release of new initiatives – PayPal also announced this week the launch of new seller reporting tools.
Global trade is already a significant source of business for PayPal, accounting for approximately 25% of its Total Payment Volume last year, and more than 50% of PayPal revenue.
PayPal Vice President of Global Product Solutions Carey Kolaja said many small business owners aren’t sure where to start to reach a global market. Interestingly the new website highlights a seller of handmade wedding accessories who sells on Etsy.
PayPal’s website and press release also highlights Singles Day in China, the brainstorm of Alibaba’s TaoBao marketplace, “the November 11 Chinese holiday that dwarfs Black Friday in ecommerce revenue.”
According to the new PayPal PassPort website, “Becoming a global retailer means looking beyond Valentine’s Day, Mother’s Day and Black Friday as peak selling days and addressing country-specific sales opportunities.”
One of the more interesting features on the site is the ability to find shipping carriers by country. PayPal PassPort also provides case studies and best practices so businesses can learn firsthand how their peers have succeeded selling globally.