PayPal has launched PayPal Open, a new merchant platform that will consolidate all of its merchant offerings under one platform.
PayPal Open is set to launch soon in the US, with plans for expansion to the UK and Germany later this year. A broader roll-out is planned in 2026.
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Businesses can enable payments virtually with PayPal’s checkout solutions, including PayPal, Venmo, Fastlane, and Pay Later, while processing transactions through a single integration.
Merchants can conduct transactions in over 140 currencies across more than 200 global markets on nearly all major e-commerce platforms.
Businesses can optimise operations with AI-driven insights, allowing merchants to access sales and performance data that highlights areas for improvement.
PayPal EVP, General Manager, Large Enterprise & Merchant Platforms Group Frank Keller said: “Our goal in developing PayPal Open is to create one unified commerce platform that supports the evolving needs of today’s merchants.
“By partnering with PayPal, small businesses can seamlessly manage their cash flow with financial and payments solutions, while enterprise businesses can build custom solutions based on their unique business needs, PayPal Open will allow them to do so in one streamlined platform.”
The initiative is part of a broader strategy led by PayPal CEO Alex Chriss, who has been at the helm since September 2023, reported CNBC.
According to the report, Chriss contributed more to improving transaction margins and monetising acquisitions such as Braintree, which processed nearly $600bn in total payment volume last year.
The company’s checkout business is claimed to be the profitable segment, accounting for 30% of PayPal’s total payment volume.
PayPal reported a net income of $1.1bn in Q4 2024, down from $1.4bn in the year-ago quarter. For the full year, its net income was $4.1bn, a 2% fall from 2023.
