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PayPal (PYPL) Boosts Reach to Australia With Pay in 4 Access
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PayPal (PYPL - Free Report) is making strong efforts to strengthen its presence in the booming digital payment market of Australia.
The company has made its Pay in 4service — a buy now, pay later (“BNPL”) solution available to the eligible customers in Australia, which testifies the aforesaid fact. The expansion of the service in Australia was announced at the end of first-quarter 2021.
PayPal is offering the solution free of any interest, payment fees and sign-up fees.
Further, it reduced the purchasing amount from $50 to $30 for customers looking to avail ofthe BNPL facility via the underlined service. Four installments can be divided between $30 and $1,500.
Pay in 4 offers a secured mode of payment as purchases are protected by the company’s ‘Buyer Protection’.
We believe that the latest move will aid PayPal in gaining strong momentum among customers in Australia.
The move bodes well for the company’s growing initiatives to bolster its global footprints.
The move will strengthen PayPal’s relationship with Australia merchants.
The recent launch will aid the company in retaining as well as attracting clients to its platform, courtesy of its customer-friendly instalment payment options. The service will benefit clients and their customers as well.
Merchants, who are clients of PayPal, will get the payment upfront at the time of transaction. Meanwhile, customers will repay installments.
This seems to be of great help for merchants as Pay in 4 provides a risk-free payment option to merchants to incorporate into their point-of-sale system. The payment flexibility option will help merchants in bolstering their sales and expanding their customer base.
Competitive Advantage
With Pay in 4, PayPal is likely to give tough competition to players in Australia’s digital payment space such as Afterpay and Zip Co.
The global expansion of Pay in 4 will help PayPal gain a competitive edge against U.S. companies like Square (SQ - Free Report) , Mastercard (MA - Free Report) and Visa (V - Free Report) , which are also involved in this kind of service.
Square offers Square Installments, which enable small business clients such as hairdressers,and car parts sellers to offer the flexibility of payment in installments to their customers.
Customers are allowed to pay for their purchases ranging from $250 to $10,000 in fixed monthly installments over three, six and 12 months.
Mastercard also provides a comprehensive suite of BNPL offerings, which includes Pre-sale, Point of Sale and Post-Sale.
Visa offers a service, namely Visa Installments, a point-of-sale credit solution to provide the BNPL facility to customers.
Nevertheless, PayPal’s growing suite of Pay Later solutions, rising customer engagement on thePayPal platform, and flexible financing solutions and products are likely to sustain its strong market position.
Image: Bigstock
PayPal (PYPL) Boosts Reach to Australia With Pay in 4 Access
PayPal (PYPL - Free Report) is making strong efforts to strengthen its presence in the booming digital payment market of Australia.
The company has made its Pay in 4service — a buy now, pay later (“BNPL”) solution available to the eligible customers in Australia, which testifies the aforesaid fact. The expansion of the service in Australia was announced at the end of first-quarter 2021.
PayPal is offering the solution free of any interest, payment fees and sign-up fees.
Further, it reduced the purchasing amount from $50 to $30 for customers looking to avail ofthe BNPL facility via the underlined service. Four installments can be divided between $30 and $1,500.
Pay in 4 offers a secured mode of payment as purchases are protected by the company’s ‘Buyer Protection’.
We believe that the latest move will aid PayPal in gaining strong momentum among customers in Australia.
The move bodes well for the company’s growing initiatives to bolster its global footprints.
PayPal Holdings, Inc. Price and Consensus
PayPal Holdings, Inc. price-consensus-chart | PayPal Holdings, Inc. Quote
Merchant Momentum to Accelerate
The move will strengthen PayPal’s relationship with Australia merchants.
The recent launch will aid the company in retaining as well as attracting clients to its platform, courtesy of its customer-friendly instalment payment options. The service will benefit clients and their customers as well.
Merchants, who are clients of PayPal, will get the payment upfront at the time of transaction. Meanwhile, customers will repay installments.
This seems to be of great help for merchants as Pay in 4 provides a risk-free payment option to merchants to incorporate into their point-of-sale system. The payment flexibility option will help merchants in bolstering their sales and expanding their customer base.
Competitive Advantage
With Pay in 4, PayPal is likely to give tough competition to players in Australia’s digital payment space such as Afterpay and Zip Co.
The global expansion of Pay in 4 will help PayPal gain a competitive edge against U.S. companies like Square (SQ - Free Report) , Mastercard (MA - Free Report) and Visa (V - Free Report) , which are also involved in this kind of service.
Square offers Square Installments, which enable small business clients such as hairdressers,and car parts sellers to offer the flexibility of payment in installments to their customers.
Customers are allowed to pay for their purchases ranging from $250 to $10,000 in fixed monthly installments over three, six and 12 months.
Mastercard also provides a comprehensive suite of BNPL offerings, which includes Pre-sale, Point of Sale and Post-Sale.
Visa offers a service, namely Visa Installments, a point-of-sale credit solution to provide the BNPL facility to customers.
Nevertheless, PayPal’s growing suite of Pay Later solutions, rising customer engagement on thePayPal platform, and flexible financing solutions and products are likely to sustain its strong market position.
Currently, PayPal carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.