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PayPal Dives into Buy Buttons with PayPal Commerce
PayPal has launched a closed beta of its newest product, PayPal Commerce, which helps merchants integrate buy buttons into social media, emails, blogs and more.
PayPal’s first acquisition after its split from eBay was a company called Modest. Using Modest’s APIs, PayPal has unveiled a new product — PayPal Commerce — that helps merchants integrate buy buttons into third-party apps.
PayPal Commerce describes itself as “a seamless and secure way to sell where your products are first seen — in emails, blogs, articles, apps, social shares, and more — without changing the way you manage your business.”
It enables merchants to embed buy buttons into blogs, articles, emails, as well as apps and social media platforms. The product launched late last week in closed beta testing.
PayPal has about 179 million users worldwide, which it’s banking on to help get launch PayPal Commerce and differentiate it from similar offerings, such as Stripe.
“We want PayPal to be that foundational level again. It’s doing the same thing that PayPal did back in the day, creating building blocks for small retailers to focus on what the future of commerce will look like,” Harper Reed, co-founder of Modest told TechCrunch.
PayPal has not yet released details about how much it will cost to use PayPal Commerce or what percentage of sales through the platform it will take. PayPal has also not yet released any details regarding retail partners.
According to TechCrunch, PayPal Commerce is expected to be open platform, meaning that users will likely not need a PayPal account to make purchases.
Despite the tentative consumer uptake of buy buttons, PayPal is clearly embracing the ubiquity of buy buttons and banking on the move away from retail websites towards ‘omnicommerce,’ where products can be purchased wherever they’re seen.
The PayPal Commerce launch comes on the back of PayPal’s Super Bowl ad, which positioned the company as a “new money” by contrasting old-world ideas of money with the digitally democratised future vision of money.