PayPal Holdings Inc. (NASDAQ: PYPL) today announced that Wix (Nasdaq: WIX) merchants can offer PayPal Pay in 4* and PayPal Credit** through a dedicated Pay Later checkout button, as well as present Pay in 4 messaging earlier in the shopping journey. With many businesses expressing optimism this holiday season, PayPal Pay Later solutions provide Wix eCommerce merchants in the U.S. with another way to help maximize this all-important time of year.
According to Adobe , online retailers totaled $8.9 billion in sales on Black Friday this year. With consumers continuing to shop online for their holiday needs, Wix and PayPal are helping merchants ensure they reach millions of active consumers by offering PayPal Credit and PayPal Pay in 4. In fact, U.S. merchants who accept PayPal Pay in 4 have reported a 21% increase in payment volume – proving this option as a way for merchants to help increase their sales. 1
"As we head into the holiday shopping season, business owners need to do everything they can to increase their sales conversions and offering Pay Later solutions is one way to do it," said Greg Lisiewski , Vice President of Global Pay Later at PayPal. "Businesses need help in order to recover from the past 18 months - and by providing PayPal Credit and Pay in 4, they have one more tool to do so."
"As eCommerce has accelerated tremendously, so has the demand for innovative payment options from our merchants and their customers," said Amit Sagiv , Co-head of Payments at Wix. "By continuing to offer flexible payment methods to our merchants like PayPal Credit and PayPal Pay in 4, we're helping merchants reach more customers by providing them with more options at checkout and ultimately increasing their conversion."
PayPal Pay Later solutions offer consumers flexible and predictable payment methods. PayPal Pay in 4 allows consumers to split purchases into 4 interest-free equal payments made every two weeks. Consumers can choose a credit card, debit card, or direct bank withdrawal as a repayment method and will not be charged late fees if a payment is missed. PayPal Credit offers 6 months special financing on purchases of $99+.
Wix businesses can simply add PayPal Pay Later buttons to their product page, cart and at checkout. PayPal Pay in 4 messaging can automatically appear on their product page. If a merchant is already connected with PayPal, the PayPal Pay Later buttons will automatically appear in their store. If a business is not already connected to PayPal, they need to follow three simple steps to offer their consumers another way to pay:
- Go to the Wix dashboard and select "Settings"
- Click Accept Payments
- Connect to PayPal and follow the instructions
PayPal Pay in 3 will be available to Wix businesses in the U.K. and PayPal Pay in 4x to Wix businesses in France in the coming months.
More information about PayPal, PayPal Credit, and PayPal Pay in 4 for Wix businesses can be found at https://www.wix.com/payments/payment-gateways-paypal
1 Based on analysis of PayPal internal data from October 1, 2021 to June 30, 2021 .
* About Pay in 4: Loans to California residents are made or arranged pursuant to a California Finance Lenders Law License. PayPal, Inc. is a Georgia Installment Lender Licensee, NMLS #910457.
**PayPal Credit is subject to consumer credit approval.
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 400 million consumers and merchants in more than 200 markets to join and thrive in the global economy. For more information, visit paypal.com .
About Wix.com, Ltd
Wix is leading the way with a cloud-based website development platform for over 210 million registered users worldwide today. The Wix website builder was founded on the belief that the Internet should be accessible to everyone to develop, create and contribute. Through free and premium subscriptions, Wix empowers millions of businesses, organizations, artists, and individuals to take their businesses, brands and workflow online. The Wix Editor, Wix ADI, Editor X, a curated App Market , Ascend by Wix and Velo by Wix enable users to build and manage a fully integrated and dynamic digital presence. Wix's headquarters are in Tel Aviv with offices in Austin , Be'er Sheva, Berlin , Cedar Rapids, Denver , Dnipro, Dublin , Kyiv , Kraków, Los Angeles , Miami , New York , Phoenix , San Francisco , São Paulo, Tokyo and Vilnius.
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SOURCE PayPal Holdings, Inc.
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