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PayPal (PYPL) Boosts Commerce With Happy Returns-Staples Deal

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PayPal Holdings, Inc. (PYPL - Free Report) continues to make strong efforts toward bolstering its commerce platform.

This is evident from the latest partnership between the company’s Happy Returns and Staples US Retail.

Happy Returns’ in-person return service is being made available across more than 1,000 Staples stores under the partnership in a bid to deliver an enhanced return experience to online shoppers.

With the partnership, Happy Returns will enable customers shopping from merchants, who are tied with it, to return purchased items in person at Staples store without any box or label.

This will help customers in getting immediate refunds for their returned items.

The endeavor will not only benefit shoppers but also merchants as it will reduce their cost of returns. Moreover, it will aid sellers to manage their reverse logistics efficiently.

Additionally, the latest move is likely to drive Happy Returns’ momentum among merchants, as it will help them in expanding their reach to customers by offering easy and quick return service.

PayPal Commerce in Focus

Notably, PayPal acquired Happy Returns in second-quarter 2021 in a bid to bolster its commerce platform.

Now, by making returns and refunds hassle-free and quick, PayPal is likely to gain solid traction in the e-commerce market, in which returns are crucial and hold much significance.

In order to deliver a robust online shopping experience, a merchant needs to offer seamless returns to customers.

Hence, the latest move adds strength to the offerings of PayPal Commerce. Also, PayPal remains well-poised to penetrate the return logistics space rapidly on the heels of expanding Happy Returns’ services across Staples locations.

Competitive Scenario

With strengthening commerce offerings, PayPal is likely to gain a competitive edge against companies like Shopify (SHOP - Free Report) and BigCommerce (BIGC - Free Report) , which are also leaving no stone unturned to bolster their presence in the e-commerce space on the back of their respective platforms.

Notably, Shopify’s e-commerce platform offers a mobile POS system and helps merchants to run their businesses efficiently.

Meanwhile, the BigCommerce platform aids sellers in shipment management, handling transactions and listing products on various e-commerce sites.

Apart from these, PayPal ups its return logistics game against retail giants — Amazon (AMZN - Free Report) and Walmart — which provide ultrafast return facilities on the back of their large brick-and-mortar footprints.

Currently, PayPal carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.