Following its launch of PayPal Here, PayPal has confirmed that the mobile payment offering was just one piece of a larger initiative aimed at small businesses.
The company has debuted PayPal Payments, a product line up with three tiers of payment capability. A chart providing a full list of each tier’s features can be found here.
Tellingly, PayPal also took pains to point out that it has dropped “website” from its US product name—much the same way Apple dropped Computer from its name in 2007. “This name change represents our move away from our online heritage to the future of PayPal and the multi-channel nature of payments in the new retail environment,” it said.
SMBs Have Same Tools as Bigger Counterparts
This array of new payment mechanisms is a reflection of a larger trend benefiting small businesses—the trickle down of products and services that once were aimed at larger firms. Another example are Facebook ads, which in format and pricing have become more available to SMBs, according to a survey released in December 2011 by MerchantCircle. Facebook advertising (23%) trails only print newspaper (25%) and direct mail (24%) in terms of small business marketing adoption, it found. Also, survey indicates that group deals (12%) are also growing in adoption, ahead of online newspaper (11%), but behind PPC and SEM (18%).
Another example of this trend can be seen in Twitter’s self-serve ad platform for small businesses.