PayPal Unveils Tools for Small Businesses to Sell Global
PayPal wants small businesses to go global.
EBay Inc. (EBAY)’s payments unit is rolling out tools and data to help merchants find new markets and ways to sell their wares, be that in China, Japan, Argentina or elsewhere, said Anuj Nayar, PayPal’s senior director of global initiatives. The features will be available through a new website, called PassPort, and will include information on foreign holidays that might drive more shopping, tips on shipping items and cultural customs.
“There’s a huge opportunity for merchants,” Nayar said. Smaller businesses “don’t have the time or the resources to effectively pull that information together.”
EBay’s Chief Executive Officer John Donahoe has prioritized international expansion for the San Jose, California-based company. PayPal’s international sales made up 56 percent of the unit’s net transaction revenue in 2013, up from 55 percent in 2012 and 53 percent in 2011, according to company filings. EBay’s marketplace business last month also rolled out new sites tailored for shoppers in Latin America.
“On the global front, cross-border trade continues to be a competitive strength of our EBay and PayPal platforms,” Donahoe said in April during a call with analysts. “Exports from China are strong with EBay and PayPal connecting Chinese merchants to tens of millions of consumers worldwide.”
The new service follows PayPal’s announcement this week that its leader, David Marcus, is leaving to head up the Messenger service at Facebook Inc. PayPal, which hasn’t named a successor, expanded payments volume by about 50 percent under his leadership.
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