PayPal adds Pay with Google, boosts marketplace services
PayPal is strengthening its services for e-commerce marketplaces and crowdfunding money-raising projects through PayPal for Marketplaces, while also adding Pay with Google for its Braintree merchants accepting Android Pay.
Boxed and Stub Hub are among the first Braintree clients to take advantage of PayPal's partnership with Google to streamline the checkout process, the company announced. Braintree is a unit of PayPal.
Pay with Google allows consumers to make purchases with payment methods they've stored in Android Pay and, for the first time, other payment methods they've associated with their accounts on Google properties like YouTube, the Play Store and the Google Store, Jay Parekh, director of business development at Braintree, said in an Oct. 23 blog post.
"Braintree merchants that are new to Google payment experiences can integrate Pay with Google and get the full breadth of payment methods that Google now makes available," Parekh said.
Consumers using Chrome on their Android devices can see the Pay with Google option if merchants choose to integrate the service on their websites.
On the marketplace front, PayPal says it is boosting its online marketplace support over the next few months with the PayPal for Marketplaces service that provides an end-to-end global payment solution.
PayPal for Marketplaces is a "comprehensive and flexible payment solution for businesses accepting and disbursing funds," Manju Thomas, senior director for partners and marketplaces at PayPal, said in a separate Oct. 23 blog post.
"When consumers pay using their PayPal wallet, credit cards or debit cards, marketplace businesses—from ride sharing and room-rental platforms, to online crowdfunding portals and peer-to-peer e-commerce sites—have unique needs, like collecting commissions and fees, setting payouts and multi-party disbursements," Thomas added.
In taking on a payment facilitator role for the marketplaces, PayPal will offer solutions in which it will help manage risk and take on more control of the marketplace, or simply offer payment options for those marketplaces that want more control and risk ownership, Thomas said.
A benefit to marketplace operators is eliminating the reliance on payment processing methods and Automated Clearing House payouts that can get complicated when dealing with various buyers and sellers on the sites.
The marketplace service also helps marketplace providers expand globally and increase customer service through different payment options, such as One Touch that allows consumers to skip logging into PayPal to make purchases.