Fintech

Merchants with PayPal Checkout can use the Happy Returns Return & Exchange Portal at no cost

New Return Bar partnership with Ulta Beauty offers shoppers in-person returns at over 1,300 locations nationwide

PayPal (NASDAQ: PYPL), today announced it is delivering more ways to help retailers manage returns by enabling merchants who offer PayPal Checkout to use the Happy Returns return and exchange portal software at no additional cost 1 . Additionally, the company has partnered with Ulta Beauty which increases the total number of Happy Returns Return Bar locations to more than 5,000. As online shopping has continued to accelerate during Covid, average return rates have increased to more than 20% 2 making it more important than ever for merchants to manage their post-purchase processes more effectively.

Happy Returns customer presenting a QR code at Ulta Beauty to make a fast and seamless box-free return

Expanding Return Software Access

American consumers returned over $218 billion of online purchases in 2021 3 , creating logistical challenges and greater costs for retailers. By making the Happy Returns software available to PayPal merchant customers at no additional cost, PayPal helps merchants of all sizes to transform their returns experience while streamlining their own operations.

The Happy Returns software automates returns and exchanges and delivers a more user-friendly customer flow. With intelligent exchange suggestions based on return reasons and inventory, consumers can make an exchange within the same transaction or choose to receive a refund. For merchants that also use the Happy Returns in-person Return Bar service 4 , the return flow presents customers with nearby Return Bar locations so they can select their preferred returns location.

"As return volumes continue to increase, this is a crucial time for merchants to implement efficient and cost-effective solutions that better equip them to manage the growing role returns play in retail," said David Sobie , Vice President of Happy Returns by PayPal. "By offering the Happy Returns software free of charge, we are delivering a post-purchase solution for merchants that helps them retain revenue and gives them a competitive edge in today's market."

In addition, the Happy Returns portal is now localized to eight additional languages to enable access by consumers in the EU and Canada . The appropriate language is displayed automatically based on the shopper's location, with translation of all screen instructions including custom copy provided by the merchant. The returns portal also includes a robust dashboard that enables the merchant to run detailed reports of returns data and respond to returns-related customer inquiries in real time.

"Happy Returns has made it possible for us to offer seamless exchanges to our customers across the globe, helping retain revenue we would have otherwise lost," said Niran Chana , President, International at Gymshark.

Ulta Beauty Introduces Return Bars

Despite the continued increase in online shopping, consumers have demonstrated a strong and growing preference for Happy Returns' box-free, label-free drop-off—with over 70% choosing to visit a Return Bar rather than returning by mail when given the option 5 . To help support this demand, Happy Returns and Ulta Beauty are introducing Return Bars in more than 1,300 Ulta Beauty retail locations nationwide, increasing the total number of Return Bar locations overall to more than 5,000. With this expansion, 78% of Americans will live within a 10-mile radius of a Return Bar 6 , making the return process convenient and efficient for consumers.

Starting in select locations and expanding throughout 2022, the Ulta Beauty partnership extends Happy Returns' unique reverse logistics solution to remove consumer and merchant return pain points. Shoppers begin their return on the Happy Returns-hosted returns portal or the merchants' own return flow and receive a QR code. They can then bring the items only—no box or receipt required—plus the QR code to the Return Bar at an Ulta Beauty store to complete the return. Returns from multiple merchants are aggregated into a reusable tote, reducing shipping costs and making the process more sustainable by eliminating cardboard and lowering carbon emissions.

"Though consumers have increased their frequency of online shopping, returns are commonly an 'in person' experience and are costly and challenging for merchants," said David Sobie , Vice President of Happy Returns by PayPal. "Our partnership with Ulta Beauty widens our in-person drop off network and gives online shoppers more options to complete returns—Return Bars bring new customers into stores and give merchants a more cost-effective and practical way to manage their reverse logistics."

"We are thrilled to welcome Happy Returns to the Ulta Beauty family to deliver our guests greater convenience," said Kecia Steelman , Chief Operating Officer, Ulta Beauty . "Our pilot with the innovative return platform reinforced the value simplified, in-person returns offer consumers and retailers alike. We're encouraged by the increased store traffic and in-store engagement the partnership drives. This is a winning opportunity for our guests, our brand and Happy Returns."

Merchants who would like more information about the Happy Returns returns portal software and/or in-person Return Bar service can visit happyreturns.com/paypal

  1. PayPal Checkout fees still apply.
  2. National Retail Federation and Appriss Retail Returns Report, January 2022
  3. National Retail Federation and Appriss Retail Returns Report, January 2022
  4. Return Bar fees apply
  5. Analysis of internal PayPal and Happy Returns data January 2022
  6. Analysis 2020 Census Data

About PayPal

PayPal has remained at the forefront of the digital payment revolution for more than 20 years. By leveraging technology to make financial services and commerce more convenient, affordable, and secure, the PayPal platform is empowering more than 425 million consumers and merchants in more than 200 markets to join and thrive in the global economy. For more information, visit paypal.com.

Media Contact:

Gideon Anstey
Gbanstey@paypal.com

Ulta Beauty employee placing a returned item into a Happy Returns reusable tote

Ulta Beauty employee scanning a Happy Returns QR code to verify the return and initiate an instant refund

GymShark using the Happy Returns Return and Exchange Portal to simply online returns

GymShark using the Happy Returns Return and Exchange Portal that offers customers seamless exchanges

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/paypal-broadens-access-to-its-post-purchase-services-for-merchants-to-help-manage-increasing-return-volumes-301511194.html

SOURCE PayPal, Inc.

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PYPL

PayPal Acquires TIO Networks

Core Innovation Capital and the Center for Financial Services Innovation has announced that their portfolio company has been acquired by PayPal (NASDAQ:PYPL).
As quoted in the press release:

CFSI, the nation’s authority on financial health, made an early investment in TIO Networks in 2005. Core, a venture capital firm investing in leading financial technology companies, invested in TIO in 2013 as part of their mandate to create value for everyday and underserved Americans.
TIO is a cloud-based multi-channel bill payment processor that has processed over $7 billion in payments in 2016 for its 14 million customers. The company delivers convenient access to secure bill pay via kiosk, walk-in, mobile and web solutions.
“Our exceptional financial return is further enhanced by the fact that TIO is one of the most impactful fintechs in the industry, now becoming part of PayPal,” said Arjan Schütte, founder and managing partner of Core.
“PayPal’s acquisition of TIO represents one of CFSI’s greatest impacts to date,” said Jennifer Tescher, founder and CEO of CFSI. “In TIO, we made an early investment that helped a strong innovator become a financial health champion, and the company has built an incredible business around a real consumer pain point, shaped it, and demonstrated that it can be done profitably. Under the larger umbrella of PayPal, TIO should scale even further to benefit more Americans.”
Seventy-nine percent of TIO’s customers are low-to-moderate income, of which a majority pays their bills by giving cash to a teller at a convenience or other retail location. One of the reasons both CFSI and Core invested is that these bills, when expedited, can be extremely expensive. When Core invested in 2013, TIO saved its customers $192 per year on walk-in bill pay charges, relative to the most common alternatives in the market. This translates to an aggregate savings of $290 million in that year alone. TIO is one of the most impactful companies in Core’s portfolio in terms of number of customers served and ratio of underserved customers.

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CEO of Bitcoin Wall Provider Xapo Joins PayPal's Board of Directors

CEO of bitcoin waller provider Xapo has joined PayPal (NASDAQ:PYPL) as a new board member.
Wences Casares, CEO of bitcoin wallet provider Xapo, is the payments giant’s newest board member.
 
According to an article on Fortune:

Wences Casares, CEO of bitcoin wallet provider Xapo, is the payments giant’s newest board member. Payments giant PayPal announced a new board member this morning, potentially signaling the company’s openness to cryptocurrencies. Wences Casares, CEO of bitcoin wallet provider Xapo, joined PayPal’s board and is part of the company’s compensation committee.
Dan Schulman, president and CEO of PayPal PYPL 2.49% , said of the entrepreneur: “Wences’s unique line of sight into the future of commerce is ideally aligned with PayPal’s vision of transforming the management and movement of money for people around the globe.”

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FIS is Building the Bridge to the Metaverse: Tips for the New Digital Frontier

Key facts

  • At its annual FIS Emerald client event, FIS launched its metastore allowing attendees to get hands on experience with transactions in the metaverse.
  • Initiative supports FIS' leadership role in creating the bridge from physical to digital which includes working with cryptocurrency exchanges and all forms of money movement technology to enable shopping and other transactions.

The metaverse is opening a new frontier of opportunities in the digital economy. As a financial technology leader, FIS ® (NYSE: FIS) is creating a bridge from physical to digital and looking to enhance customer experience for businesses that are innovating in this nascent market.

News Provided by Business Wire via QuoteMedia

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PayPal Announces Pricing of Senior Notes Offering

PayPal Holdings, Inc. (NASDAQ: PYPL) announced today that it has priced its offering of $3.0 billion aggregate principal amount of senior notes, consisting of $500 million aggregate principal amount of 3.900% notes due 2027, $1 billion aggregate principal amount of 4.400% notes due 2032, $1 billion aggregate principal amount of 5.050% notes due 2052 and $500 million aggregate principal amount of 5.250% notes due 2062. The offering is expected to close May 23, 2022 subject to customary closing conditions.

PayPal Logo (PRNewsfoto/PayPal)

PayPal estimates that the proceeds from the offering will be approximately $2.99 billion , before deducting offering expenses. PayPal intends to use a portion of the proceeds from the offering to fund the purchase for cash of any and all of the Company's outstanding 2.200% Notes due 2022 and 1.350% Notes due 2023 pursuant to the tender offer that commenced on May 16, 2022 and for the payment of related and unpaid interest, premiums, fees and expenses. PayPal intends to use the remainder for general corporate purposes, which may include funding the repayment or redemption of any 2022 Notes and 2023 Notes that are not validly tendered and accepted for payment in the tender offer, as well as other outstanding debt, share repurchases, ongoing operations, capital expenditures and possible acquisitions of businesses or assets or strategic investments.

BofA Securities, Goldman Sachs & Co. LLC and Morgan Stanley are acting as joint book-running managers of the offering.

This offering is being made under an automatic effective shelf registration statement on Form S-3 filed by PayPal with the Securities and Exchange Commission (the "SEC") and only by means of a prospectus supplement and accompanying prospectus. Before you invest, you should read the prospectus supplement and accompanying prospectus, as well as other documents PayPal has filed or will file with the SEC for more complete information about PayPal and this offering. These documents may be obtained for free by searching the SEC online database (EDGAR) on the SEC website at www.sec.gov . Alternatively, copies of the preliminary prospectus supplement and accompanying prospectus, and, when available, the final prospectus supplement for the offering may be obtained by contacting: BofA Securities, Inc. at NC1-004-03-43 200 North College Street, 3rd floor Charlotte NC 28255-0001 Attention: Prospectus Department, e-mail: dg.prospectus_requests@bofa.com , telephone: 1-800-294-1322; Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316, e-mail: prospectus-ny@ny.email.gs.com ; or Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, telephone: 1-866-718-1649.

This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any sale of the notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

About PayPal

PayPal has remained at the forefront of the digital payment revolution for more than 20 years. By leveraging technology to make financial services and commerce more convenient, affordable, and secure, the PayPal platform is empowering 429 million consumers and merchants in more than 200 markets to join and thrive in the global economy.

Forward-Looking Statements

This press release contains "forward-looking" statements within the meaning of applicable securities laws, including statements related to the anticipated terms of the offering, the anticipated closing of the offering, the expected use of proceeds of the notes and other statements that are not historical fact. These forward-looking statements can be identified by words such as "may," "will," "would," "should," "could," "expect," "anticipate," "believe," "estimate," "intend," "strategy," "future," "opportunity," "plan," "project," "forecast" and other similar expressions. Forward-looking statements are based upon various estimates and assumptions, as well as information known to PayPal as of the date of this press release, and are inherently subject to numerous risks and uncertainties. Accordingly, actual results could differ materially from those predicted or implied by forward-looking statements.  For the reasons discussed above, you should not place undue reliance on the forward-looking statements in this press release. PayPal assumes no obligation to update such forward-looking statements, except as required by law.

Investor Relations Contacts
Gabrielle Rabinovitch
grabinovitch@paypal.com

Ryan Wallace
ryanwallace@paypal.com

Media Relations Contacts
Josh Criscoe
jcriscoe@paypal.com

Taylor Watson
taywatson@paypal.com

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/paypal-announces-pricing-of-senior-notes-offering-301548490.html

SOURCE PayPal Holdings, Inc.

News Provided by PR Newswire via QuoteMedia

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PayPal Announces Debt Tender Offer

PayPal Holdings, Inc. (NASDAQ: PYPL) today announced its offer to purchase for cash any and all of the company's outstanding notes listed in the table below (collectively, the "Notes"). Each reference to an "Offer" herein refers to the applicable offer to purchase for cash the 2.200% Senior Notes due September 2022 (the "2022 Notes") or the 1.350% Senior Notes due June 2023 (the "2023 Notes"), as applicable.

The Offer is made upon the terms and subject to the conditions set forth in the offer to purchase, dated May 16, 2022 (as may be amended or supplemented from time to time, the "Offer to Purchase "), and its accompanying notice of guaranteed delivery (the "Notice of Guaranteed Delivery" and, together with the Offer to Purchase , the "Tender Offer Documents"). Capitalized terms used but not defined in this announcement have the meanings given to them in the Offer to Purchase .

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Join Intuit QuickBooks and the U.S. Small Business Administration for a Small Business Success Month Town Hall

U.S. Small Business Administrator Isabella Casillas Guzman and Intuit QuickBooks EVP and General Manager Alex Chriss to Discuss Small Businesses Challenges from Cash Flow to Inflation

As part of Small Business Success Month , INTUit (NASDAQ: INTU), the global technology platform that makes QuickBooks , TurboTax , Mint , Credit Karma , and Mailchimp , will host a candid conversation with Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration (SBA), on Thursday, May 19 to discuss the biggest challenges facing small businesses today, including how to access capital, manage inflation and improve cash flow. Emmy award-winning journalist Lisa Ling will moderate the conversation.

News Provided by Business Wire via QuoteMedia

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Fintech Stocks: 5 Biggest Companies (Updated 2022)

Fintech Stocks: 5 Biggest Companies (Updated 2022)

The top fintech companies are transforming banking, payments and financial services around the world.

However, the fintech space can be a little tricky for the average investor to navigate. In the recent past, the sector was primarily dominated by private startups, making it difficult for investors to get into the fintech market.

Now the situation is changing. KPMG notes that “the pipeline of fintech IPOs is growing globally,” and states that more stock exchanges are opening up to technology listings in a bid to compete with the NASDAQ. That means more fintech innovators are joining the ranks of publicly traded stocks.

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TIMIA Capital

TIMIA Capital to Acquire Controlling Interest in Specialty Finance Company

~TIMIA announces letter of intent to acquire a controlling interest in a second specialty finance company in 2022; Combined company pro forma assets surpass $450 million~

Timia Capital Corporation ("TIMIA" or the "Company") (TSXV: TCA) (OTCQB: TIMCF) a leading innovator in specialty private credit, is pleased to announce it has agreed to acquire approximately 77% of a Canadian-based leading provider of specialty finance lending (the "Target"), for a purchase price of approximately $9.24 million . The total common share valuation of the specialty finance company is $12 million . The vendors of the Target (the "Vendors") and the Target's board and management are at arm's length to the Company.

News Provided by Canada Newswire via QuoteMedia

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