PayPal is building a platform for small businesses to integrate buy buttons across platforms and sales channels. Named PayPal Commerce, the new service launches today in closed beta, setting the stage for how PayPal could potentially reboot its platform for mobile payment using technology from Modest, a company PayPal acquired shortly after splitting from eBay. Third-party services will be integrated in the back end to the Commerce platform via a set of APIs, which allows merchants to easily place customizable buy buttons across their mobile sales channels to process digital and mobile payments via PayPal.
What Brands Need To Do
The growing prevalence of buy buttons goes hand in hand with the development of social ecommerce and increasing adoption of mobile payments. Brands selling on digital and social channels need to consider using services like PayPal Commerce in order to translate the convenience of “buy buttons” and the network effect on social platforms into actual sales.
For more information on how brands can better utilize buy buttons to reach prospective customers with an omnichannel approach. check out the Boundless Retail section in our Outlook 2016.