PayPal Zettle Coming to the US to With Focus On Small Businesses
Three years after purchasing Zettle, PayPal is launching PayPal Zettle in the U.S. This small business-focused mobile-payments system is already operating in PayPal’s overseas markets and has been beta-tested in the States during the past three months.
Zettle, a Swedish company, cost PayPal $2.2 billion in 2018. Its card reader/e-commerce tool was designed to help small businesses integrate their sales and back-office operations better.
According to Jim Magats, PayPal’s Senior Vice President, “One key advantage that Zettle offers small businesses is the ability to seamlessly transact with consumers wherever they are—in brick-and-mortar stores or online.”
PayPal Zettle will allow small businesses to accept a range of payments through Zettle’s card reader and benefit from Paypal’s suite of payment and commerce solutions. The integration brings help in managing sales, inventory, payments, and reporting, all from one place. It also creates a real-time ledger of transactions and inventory levels that’s very easy to check.
“That back-office reconciliation, when the online and physical world are brought together, means merchants won’t miss a sale or fail to satisfy a customer,” Magats said.
With Zettle also comes PayPal’s partner network. Users can effortlessly link their accounts with PayPal’s e-commerce, accounting, and point of sale partners, such as Lightspeed, SalesVu, QuickBooks Online, or BigCommerce. PayPal also promises integrations with more partners in the future.
It’s these integrations that have proven to be the biggest reason for Zettle’s success overseas. Small businesses appreciate the opportunity to use Zettle for transactions without signing up for an unwanted bundle of services or having to replace their existing online bookkeeping services or e-commerce platforms completely.
“What we hear [from merchants] is they love the interoperability,” Magats added.
Starting from June 30, small businesses can purchase their first card reader for $29 and additional readers for $79. The transaction rate for card processing stands at 2.29% + 0.09 cents at launch.