PayPal has introduced its Complete Payments solution for businesses in Singapore, offering a comprehensive payments system designed to facilitate global commerce. This new service allows businesses to accept payments from over 200 markets, optimise cash flow with rapid settlements, and manage multi-currency balances, all whilst enhancing fraud protection.
The Complete Payments solution supports a wide range of payment methods, including PayPal, Apple Pay, Google Pay, Visa, Mastercard, and local alternatives like Alipay and iDEAL. Businesses using this service have reported a 4.7 percentage point increase in card authorisation rates globally, and the combination of PayPal Wallet and Apple Pay can boost checkout conversion by up to 17%.
Nadia Syed, Senior Vice President, International Cross Border Trade and General Manager Asia Pacific at PayPal, stated, “PayPal Complete Payments will give businesses here access to an extensive suite of new tools which will help them sell more effectively to global customers, in just one integration.”
The launch comes at a time when cross-border commerce is crucial for Singapore businesses amid a challenging global trade environment. The solution aims to simplify cross-border transactions and reduce foreign exchange exposure, providing businesses with the flexibility needed to thrive in international markets.
G2G, a leader in digital gaming goods, has already benefited from the solution. Ken Chee, G2G’s Group CEO and Co-Founder, noted that the service’s transparent fees and advanced fraud protection have been instrumental in their global expansion.
With e-commerce fraud rates in Singapore rising, PayPal’s enhanced security features, including Fraud Protection and Seller Protection, are designed to safeguard businesses against increasing threats. The integration with platforms like Adobe Commerce and WooCommerce further simplifies the adoption of these solutions for businesses.
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