The news: PayPal expanded its partnership with Bold Commerce so that merchants can add Fastlane and Pay with Venmo to their checkouts.
Small and medium-sized businesses (SMBs) that use Bold Commerce’s OpenCart and Gravity Forms can add either payment solution. The SMBs previously could only access PayPal Complete Payments (PPCP).
Why it matters: PayPal has been trying to grow merchant acceptance for both Fastlane and Pay with Venmo.
Both of these payment ventures are part of PayPal’s larger goal of diversifying its payments volume across both products and payment types. To that end, it also upgraded the PayPal Debit Card and brought PPCP to new markets.
Our take: This partnership with Bold Commerce helps PayPal make progress towards these goals. The Canada-based checkout platform boasts a customer base of 90,000 brands across 170 countries.
It should help PayPal bring in greater payments volume, which will in turn boost revenues: PayPal’s total revenues increased 6% YoY in Q3 2024 to $7.8 billion.
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