Magento, the premier ecommerce platform provider, acquired by eBay in 2011, announced the upgrade of its enterprise version with PayPal integration, the payment processor eBay acquired recently. The announcement came in the Imagine ecommerce conference organized by Magento. Magento also offers a free version on this application as ‘Community Edition’, which is used by several small businesses.
The company called the new edition the “most dramatic step forward in this history of our platform” when it came to offering merchants the ability to scale their businesses.
The new edition offers optimized catalogue indexing, improved content caching, streamlined checkout flow, and improved tax recommendations enable customers to extract ever-greater value, including faster load times and lower overall costs, from their Magento platform. Read more
Paypal, the payment arm of eBay, announced that they have partnered with a leading payment processing company in Chile with a clientele of 50k merchants. Both will work together to help local businesses to grow overseas through an initiative called – ‘Multicaja’.
The new service will allow Chilean businesses that accept international payments via PayPal to withdraw their funds directly into their local bank accounts.
Mario Mello, General Manager of PayPal Latin America, announced the new investment on the PayPal blog on Monday and said PayPal has opened up local offices in Mexico and Brazil, and has entered into partnerships in countries like Costa Rica.
“It’s a dynamic region where we see significant opportunity to work with partners who can help grow the eCommerce industry locally as well as foster the region’s participation in eCommerce on a global scale,” Mello wrote.
PayPal aims to double its share of Middle East and North African e-commerce within three years after enabling customers in seven of the region’s countries to open accounts linked to locally issued bank cards.
The online payment pioneer owned by eBay Inc has one million customers in the Middle East and North Africa (MENA), about half of whom are in the United Arab Emirates (UAE), but they previously needed a credit or debit card issued in other regions, executives said at a news conference on Wednesday.
Now residents of Saudi Arabia, the UAE, Bahrain, Kuwait, Qatar, Oman and Jordan can link a PayPal account to locally issued Visa, MasterCard or American Express credit or debit cards, with PayPal planning to expand this to nearby countries.
The company also announced a partnership with Dubai-based courier Aramex that will allow regional customers to ship goods home from the United States, Britain and China. Read more
A US e-commerce company targeting startups has entered Australia with aims to beat the likes of PayPal and major banks.
Braintree launched its payment platform in Australia earlier this week. The service lets merchants accept payments online or through a mobile device, but not in-store payments. The platform handles more than 130 currencies and provides PCI compliance. The US company is now in 30 countries and clients include Rovio, Airbnb, LivingSocial and 99designs.
The company has entered Australia because it’s a “fast-growing e-commerce market” with many “great tech companies”, and because mobile penetration is high, Braintree CEO Bill Ready told Computerworld Australia.
Also, Braintree saw a gap in the market serving startup companies, Ready said. “It’s a wasteland in terms of payment services, particularly for startups.” Read more
The partnership between PayPal and Chinese e-commerce company DHGate has officially ended this week.
On August 6, DHGate stopped accepting payments completed through PayPal. “After a thorough annual business review by PayPal, both companies have mutually agreed to part ways due to different approaches to achieve their respective business goals and standards,” the company said on its Web site. Read more
Small and mid size online retailers are highly confident in the future of ecommerce, according to the 2012 spring survey by Vendio, a provider of ecommerce software solutions. Vendio’s spring survey, in its fifth installment, questioned more than 750 ecommerce merchants and found that 84 percent of respondents are optimistic about their growth potential while 16 percent of respondents listed brick and mortar stores as a method they currently use to sell their goods. Only 11 percent of respondents are considering brick and mortar locations for future sales compared to 33 percent who are considering opening their own web store, 29 percent who would use email marketing and 26 percent who are considering selling goods on Amazon.com.
eBay and Amazon Experience Good Overall
Fully 80 percent of merchants who sell products on Amazon.com said they were satisfied with the overall experience compared to 76 percent that were satisfied with eBay and, when it came to their sales volume, 64 percent said they were satisfied with Amazon compared to 66 percent who were satisfied with eBay. Concerning ease of use, 93 percent of eBay users rated the process of listing on the eBay site as either “Very Easy,” “Somewhat Easy” or “Easy” as opposed to 80 percent of Amazon users who gave these same ratings. Read more
Pin2Sell.com, a new site that allows anyone with a PayPal account to create purchasable products and post them directly on Pinterest, launched on April 20. Created by Clique Studios, an interactive and eCommerce agency based in Chicago, the service is completely free and enables users to sell items without signing up for any additional services.
With over 10 million users, Pinterest’s base is intensely loyal, spending 88 minutes bookmarking every day. They are also social, driving more third-party traffic than Google, LinkedIn and YouTube combined.
“It just seems like the perfect place for social commerce,” said Ted Novak. “Pin2Sell makes it incredibly easy and integrated. Just take a picture, enter the price and your PayPal account, and your Pin can be purchased by anybody who is interested in it.” Read more
PayPal, the premier payment processor predicts that ecommerce will account for $37.7 billion worth of spending by 2013. This will make the retailers to invest more on the opportunities presented by internet.
“The culmination of new technologies and new business models are radically altering the retail landscape as we know it. Consumers are connecting through local, digital, social and mobile channels that add relevance and convenience to their lives,” said Frerk Malte-Feller, Managing Director of PayPal
PayPal found the increasing use of smartphones accounts for much of the e-commerce growth, with ownership of internet enabled phones at 65 percent of the total handset market in Australia. Also the growth of mobile payments has seen a 430% Year-on-Year growth.