PayPal wants platforms to offer its payments solution, and this week it announced the PayPal Invoicing API that can be integrated into ecommerce solution providers, marketplaces, and crowdsourcing platforms. The API allows the end user to easily create, send, and process invoices all in one function.
PayPal announcement follows:
Invoicing Made Easy with PayPal
Small businesses face a range of challenges. From cash flow management, to finding the best marketplaces to reach new customers, to keeping loyal customers happy, small business owners need solutions that makes wearing many hats simpler. PayPal has been working to address these issues to allow small business owners do what they want to do: run their business.
Recognizing that cash flow is the life blood of a small business, PayPal tools like Invoicing enable businesses to record sales and collect payment – fast. A comScore study commissioned by PayPal found that 78% of invoices processed through PayPal are paid within one day(1) and this timely cash flow can help make or break a business.
With this in mind, we are now offering a quicker and easier way to send invoices regardless of the platform being used. The PayPal Invoicing API can easily be integrated into ecommerce solution providers, marketplaces, and crowdsourcing platforms (among others) to allow users to create, send and process invoices all in one easy-to-use function.
These providers support hundreds, or even thousands, of merchants and sellers on their platform – and we know that making sure these sellers get paid quickly and easily is a top priority for them as it helps not only their customers but their own business as well.
The PayPal Invoicing API can seamlessly integrate into existing management systems, where merchants can:
- Invoice globally: Send invoices in 25 currencies and 200+ markets, with PayPal handling currency conversion. Scale globally with the power of PayPal’s network.
- Businesses send invoices at no cost: No monthly fee. Merchants only pay (2.9% + $0.30 per domestic transaction(2)) when they get paid.
- Get paid fast: PayPal invoicing allows merchants to accept all major debit/credit cards, PayPal and PayPal Credit(3), as well as market-specific payment methods allowing for quick and easy payment.
- Manage payments: Whether paid online or by check, track and manage everything in our invoice management center.
- Create and customize invoice templates: Display a logo and business details and customize the fields of the invoice to make it fit the business.
- Send reminders: Easily send reminders for any unpaid invoices.
- Access simple integration: One invoicing API solution for debit/credit card payments, PayPal payments, market-specific payment methods (where available), and consumer credit.
To find out more about how the PayPal Invoicing API can take the stress out of invoicing for merchants, and help them get paid faster, visit https://www.paypal.com/us/webapps/mpp/invoicing-api.
1 Source: comScore, based on a survey of 1,226 US and Canadian small and medium-sized business owners, December 2017.
2 Fees are subject to change. Learn more about fees at https://www.paypal.com/us/webapps/mpp/merchant-fees
3 Subject to consumer credit approval
SOURCE: PayPal Announcement