PayPal have announced the launch of the Invoicing API solution in a bid to secure merchant relationships with the new marketplaces-integrated invoicing function before parting ways with eBay from June 2020.
The move comes as PayPal are preparing for the decoupling process in full swing.
Their readiness was highlighted by a signed partnership with Argentinian business operating online marketplaces in the US. Last week, during the Q2 earning’s call PayPal’s chief executive officer Daniel Schulman said the team-up aims to boost the payments provider’s “international scope and scale.” Rumour has it that PayPal are eyeing up a ‘large Chinese marketplace’ and already have deals with the likes of Facebook and Instagram.
The industry is now seeing PayPal efforts aimed at wooing PayPal-eBay love child – marketplace merchants. That’s because the payment’s supplier want their merchant accounts to use PayPal as their preferred payment method over eBay’s upcoming payment service. However, eBay have set a roadblock in PayPal’s endeavour by announcing their payment method as mandatory to all traders by 2021, making the future of the supplier-seller relationship uncertain.
PayPal’s enriched payments service now offers sellers to create and process invoices on marketplaces. They say the Invoicing API function can be integrated into ecommerce solution providers, marketplaces, and crowdsourcing platforms.
The PayPal Invoicing API can integrate into existing management systems, where merchants can:
- Send invoices in 25 currencies and 200+ markets, with PayPal handling currency conversion. Scale globally with the power of PayPal’s network.
- Businesses send invoices at no cost: No monthly fee. Merchants only pay (2.9% + $0.30 per domestic transaction2) when they get paid.
Get paid fast
- PayPal invoicing allows merchants to accept all major debit/credit cards, PayPal and PayPal Credit3, as well as market-specific payment methods allowing for quick and easy payment.
- Whether paying online or by check, track and manage everything in our invoice management centre.
Create and customise invoice templates
- Display a logo and business details and customize the fields of the invoice to make it fit the business.
- Easily send reminders for any unpaid invoices.
Access simple integration
- One invoicing API solution for debit/credit card payments, PayPal payments, market-specific payment methods (where available), and consumer credit.