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PayPal (PYPL) Boosts Offerings With PayPal Zettle Launch
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PayPal (PYPL - Free Report) has rolled out a digital point-of-sale solution, PayPal Zettle, in a bid to deliver an enhanced payment experience to merchants and their customers.
With the latest move, the company strives to aid small businesses in accepting payments in person as well as via the online mode. Further, the Zettle card reader will enable businesses to deliver enhanced payment experiences to their customers.
Moreover, the solution helps businesses to sell their products online. The company is also offering access to its suite of payment and commerce solutions via the latest launch.
Customers of these businesses will get various payment options such as PayPal and Venmo QR Codes, popular digital wallets, credit, and debit cards with PayPal Zettle.
Apart from this, PayPal Zettle ensures management of sales, inventory, reporting and payments across various channels on a single platform. Businesses will be able to manage in-person and online sales through their PayPal business account.
Notably, the underlined solution is currently available in the United States.
The recent launch expands the key offerings of the company. This is likely to continue aiding it in delivering strong ecosystem to sellers.
We note that the latest move is likely to drive PayPal’s seller momentum amid the pandemic as coronavirus-related uncertainties have been affecting several businesses, especially the small ones.
Strong seller momentum remains crucial for PayPal as it is the key catalyst behind its total payment volume.
Businesses like Speakcheesy, The Bullpen and Windybush Hay Farms as well as partners like BigCommerce, Lightspeed, QuickBooks Online and SalesVu have already shown interest in PayPal Zettle.
Further, the move will expand PayPal’s footprint in the booming digital payment market of the United States.
Per a report from Statista, the market is expected to generate a transaction value of $1.3 trillion in 2021, which is expected to see a CAGR of 13.3% between 2021 and 2025, and hit $2.1 trillion by 2025.
We believe that the company remains well-poised to capitalize on the above-mentioned growth prospects on theback of the latest move.
Gaining Competitive Edge Amid Pandemic
The fast-paced world, which was already experiencing the growing adoption of mobile wallets and online payment apps in the pre-pandemic era, has been constantly witnessing an increasing proliferation of cashless payment transactions since the onset of the coronavirus pandemic.
Intensifying fear of contracting COVID-19 along with the imposition of social-distancing and stay-at-home mandates across the world has triggered cashless transactions. Digital wallets have become mainstream, while cash and physical debit/credit cards have taken the backseat amid the pandemic.
Given this scenario, PayPal ups the game with the latest move against peers like Square (SQ - Free Report) , Alphabet’s (GOOGL - Free Report) Google and Shopify (SHOP - Free Report) , who are leaving no stone unturned to gain traction among sellers amid the pandemic on the back of their robust point-of-sale solutions.
Zacks' Top Picks to Cash in on Artificial Intelligence
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Image: Bigstock
PayPal (PYPL) Boosts Offerings With PayPal Zettle Launch
PayPal (PYPL - Free Report) has rolled out a digital point-of-sale solution, PayPal Zettle, in a bid to deliver an enhanced payment experience to merchants and their customers.
With the latest move, the company strives to aid small businesses in accepting payments in person as well as via the online mode. Further, the Zettle card reader will enable businesses to deliver enhanced payment experiences to their customers.
Moreover, the solution helps businesses to sell their products online. The company is also offering access to its suite of payment and commerce solutions via the latest launch.
Customers of these businesses will get various payment options such as PayPal and Venmo QR Codes, popular digital wallets, credit, and debit cards with PayPal Zettle.
Apart from this, PayPal Zettle ensures management of sales, inventory, reporting and payments across various channels on a single platform. Businesses will be able to manage in-person and online sales through their PayPal business account.
Notably, the underlined solution is currently available in the United States.
The recent launch expands the key offerings of the company. This is likely to continue aiding it in delivering strong ecosystem to sellers.
PayPal Holdings, Inc. Price and Consensus
PayPal Holdings, Inc. price-consensus-chart | PayPal Holdings, Inc. Quote
PayPal to Benefit
We note that the latest move is likely to drive PayPal’s seller momentum amid the pandemic as coronavirus-related uncertainties have been affecting several businesses, especially the small ones.
Strong seller momentum remains crucial for PayPal as it is the key catalyst behind its total payment volume.
Businesses like Speakcheesy, The Bullpen and Windybush Hay Farms as well as partners like BigCommerce, Lightspeed, QuickBooks Online and SalesVu have already shown interest in PayPal Zettle.
Further, the move will expand PayPal’s footprint in the booming digital payment market of the United States.
Per a report from Statista, the market is expected to generate a transaction value of $1.3 trillion in 2021, which is expected to see a CAGR of 13.3% between 2021 and 2025, and hit $2.1 trillion by 2025.
We believe that the company remains well-poised to capitalize on the above-mentioned growth prospects on theback of the latest move.
Gaining Competitive Edge Amid Pandemic
The fast-paced world, which was already experiencing the growing adoption of mobile wallets and online payment apps in the pre-pandemic era, has been constantly witnessing an increasing proliferation of cashless payment transactions since the onset of the coronavirus pandemic.
Intensifying fear of contracting COVID-19 along with the imposition of social-distancing and stay-at-home mandates across the world has triggered cashless transactions. Digital wallets have become mainstream, while cash and physical debit/credit cards have taken the backseat amid the pandemic.
Given this scenario, PayPal ups the game with the latest move against peers like Square (SQ - Free Report) , Alphabet’s (GOOGL - Free Report) Google and Shopify (SHOP - Free Report) , who are leaving no stone unturned to gain traction among sellers amid the pandemic on the back of their robust point-of-sale solutions.
Currently, PayPal carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks' Top Picks to Cash in on Artificial Intelligence
In 2021, this world-changing technology is projected to generate $327.5 billion in revenue. Now Shark Tank star and billionaire investor Mark Cuban says AI will create "the world's first trillionaires." Zacks' urgent special report reveals 3 AI picks investors need to know about today.
See 3 Artificial Intelligence Stocks With Extreme Upside Potential>>