PayPal has launched PayPal Open in Australia, a unified payments and growth platform intended to support businesses in managing commerce and development needs.
The company states that PayPal Open allows businesses of various sizes, from small and medium enterprises to large organisations, to access a single merchant platform that brings together a suite of PayPal’s tools and services. The platform provides Australian companies with access to PayPal’s global network, which consists of up to 400 million active accounts worldwide.
According to the company, PayPal Open consolidates all previous PayPal merchant offerings, enabling businesses to choose and use solutions based on specific requirements. The system also integrates with a range of external commerce partners, enabling users to deploy third-party tools as needed.
Platform features
The PayPal Open platform’s core capabilities include global payments processing, integrated lending, and the use of data insights to assist business strategies. Through a single integration, businesses are able to accept payments via PayPal, Fastlane, Pay Later (such as PayPal Pay in 4), credit and debit cards, digital wallets, and alternative payment methods. The company reports that PayPal Open supports more than 140 currencies in over 200 markets, allowing businesses to process transactions across a wide range of eCommerce channels.
Andrew Toon, General Manager for PayPal Australia’s payments business, commented on the launch:
“With PayPal Open, we are delivering one platform for all businesses – a unified commerce solution built to evolve with the needs of Australian merchants. From helping small businesses seamlessly manage cash flow to enabling large enterprises to design customised solutions at scale, PayPal Open unites it all in one powerful, streamlined platform.”
Beyond payment processing, businesses are also able to access PayPal Working Capital, which is designed to provide flexible lending based on sales history and account behaviour. PayPal states that this lending capability can help fund new growth opportunities for merchants.
Operational insights
PayPal says the platform helps businesses make better-informed decisions by providing access to data on sales and performance. The company claims that nearly a quarter of global eCommerce transactions run through PayPal, providing merchants with access to a broad set of industry insights useful for scaling operations.
Toon further explained the intended benefits of PayPal Open:
“PayPal Open delivers innovation to our customers today, while preparing them for success in the future. The platform acts as a framework where we, and our partners, can contribute new solutions, expanding the capabilities on offer to the hundreds of thousands of Australian businesses that are a part of the PayPal ecosystem.”
According to PayPal, the platform has been created to be accessible for all business sizes, with an emphasis on transaction security and data protection.
Security and trust
PayPal highlights its ongoing commitment to security and safety across its financial ecosystem. The company maintains that data protection and strengthening the payments system remain central priorities, with trust positioned at the core of every transaction throughout the platform’s operations. PayPal says this is intended to provide confidence for partners and customers when transacting or expanding their commercial activities.
PayPal has operated in Australia since 2005, with more than 9.5 million active customer accounts in the country. The company offers services to consumers and businesses for sending, receiving, and managing money, and participates in the Australian payments sector through its licensed operations.
The launch of PayPal Open in Australia comes in response to what the company describes as the evolving needs of local entrepreneurs, enterprises, and established brands seeking to power payments and business growth, while maintaining access to global markets and diverse payment options.