PayPal Zettle launched today to allow small businesses to accept payments across in-person and online channels. But it’s more than a card-reader and point-of-sale solution. PayPal described the offering as way for small businesses to plug into and manage many aspects of their operations all in one place.
First, businesses using PayPal Zettle can offer their customers increased payment options, including credit and debit cards, PayPal and Venmo QR Codes, popular digital wallets and access to PayPal’s business lending solutions.
“All in-person and online sales can be easily viewed and managed through a business’s PayPal business account, and businesses will have access to their funds typically within one day,” it announced.
Secondly, the integrated solution helps businesses manage sales, inventory, reporting and payments across channels in one place.
Pymnts spoke to PayPal about the new solution and described how it allows businesses to sync inventory so customers who order online and visit their local store won’t find that the item is actually out-of-stock.
Users can access PayPal’s suite of payment and commerce solutions, including invoicing and its Business Debit Mastercard, and PayPal touted its “vast” partner network that includes BigCommerce, Lightspeed, QuickBooks Online, and SalesVu.
BigCommerce’s Mark Rosales was quoted in the PayPal announcement about how PayPal Zettle can empower its merchants, “connecting their digital operations with their offline business in a simplified way, saving time and most importantly, giving our merchants greater control over their business.”
PayPal also touted rates it called competitive: businesses can purchase their first PayPal Zettle card reader for $29, with additional readers available for $79. The PayPal Zettle transaction rate in the US for card processing is 2.29% + $0.09 cents at launch, and PayPal and Venmo QR Code transactions will be 1.9% + $0.10 cents via PayPal Zettle.
View the full announcement on PayPal’s pypl.com investor relations website.
