In its second-largest acquisition, Amazon buys the company for $970 million.
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That message is getting into the market. “We’re seeing more interest from retailers in alternative payments, for this very reason,” Tilenius says. “In the last few months, leading retailers like Dell, Sharper Image, Tower Records, PetSmart, Guess, Petco, Cooking.com and StarbucksStore.com have integrated PayPal as a payment option on their web sites. And we’ve had significant interest in our Website Payments Pro product from small and medium-sized businesses that want to offer more choice to their customers.”
Not just moving money
Website Payments Pro is a service that offers retailers a payment gateway and allows them to accept credit cards and PayPal. “One of the biggest moves for PayPal last year was the acquisition of the VeriSign Payment Gateway,” Tilenius says. “The combination of VeriSign’s payments gateway with PayPal’s existing services gives merchants even more choice in online payments from a single provider. Merchants will be able to choose to integrate online payments through the VeriSign gateway, PayPal Website Payments Standard, Express Checkout or Website Payments Pro.” PayPal is also offering micropayments processing.
Developments in the payments market in the past two years or so all add up to one thing: A business undergoing enormous change. “Retailers are seeing that a payments strategy isn’t just about moving money from point A to point B,” Tilenius says. “Payments should be viewed as a key component to increasing sales and driving down costs. Using the right payment system can also help broaden your customer reach and encourage consumer confidence in shopping online.”