The PayPal Payments Advantage
@paypal4business
Dan Leberman, SVP - Global SMB, Channel Partner & Inside Sales, PayPal Dan is the Vice President and General Manager of PayPal’s North American Online Small & Medium Business unit. Dan also serves as the Global Segment Lead for SMB, and the Executive General Manager for PayPal Canada.
And Why Small Businesses Are Leveraging Buy Now, Pay Later Options This article is
I
t hasn’t been an easy year and a half for most small businesses. The pandemic upended the world as we know it, and forced retailers of all sizes to adapt quickly. While digital payments
were already on the rise, social distancing measures boosted the drive toward digital — and merchants felt the pressure. The Covid-19 pandemic has disproportionately impacted small businesses, and businesses owned by underserved populations have been hit especially hard. To stay afloat and remain competitive, businesses are shifting strategies, adopting new technologies and turning to data to better understand and serve their customers. PayPal is committed to helping these organizations to continue to grow. In the wake of the COVID-19 pandemic, PayPal launched resource pages for merchants and consumers, facilitated over 75,000 Paycheck Protection Program loans to small businesses in the US, waived check-cashing fees for stimulus checks in the US, and launched new products to aid
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small businesses adapting to the new-normal. This included the ability to take payments using PayPal QR Codes and buy now, pay later solutions such as PayPal Pay in 4 in the US. In June 2020, PayPal also pledged a USD $530 million commitment to support black and minorityowned businesses, strengthen minority communities, and fight economic inequality. In December of 2020, it announced an additional USD $5 million grant program for black-owned businesses as the Covid crisis continued. Small businesses will increasingly continue to rely on new technology and digital commerce tools, as consumer expectations around flexibility and choice grow. PayPal remains committed to aiding in the growth and success of merchants around the world, through new products and
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