SAN JOSE, Calif., Dec. 1, 2021 /PRNewswire/ -- 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
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
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.