PayPal just became more useful for SMB’s. The company has launched PayPal Business, a mobile app that allows businesses to keep track of account activity, send invoices, and view customer information in one platform.
The app aims to prepare SMBs for the growth of mobile, said Arnold Goldberg, vice president of global merchant product and technology at PayPal, in a blog post announcing the app. On Cyber Monday alone, PayPal saw more than 50% year-over-year growth in global mobile payment volume.
PayPal introduces a new app specifically targeted at small businesses.
The online payment company is launching PayPal Business to help its merchants conduct business better. Features will include a unified hub for visualising payment information, the ability to send photos with invoices, refund processing, sales activity monitoring, quicker funds withdrawal, payment reminders, customer list management and history and better importing functionality.
Why this is important for your business:
If you’re one of PayPal’s 15 million business customers, you’ll find this app will help you conduct business faster and with more information. Look for PayPal to continue its dominance among small merchants and push further into becoming a complete point-of-sale technology solution.
“For many small businesses, the ability to keep track of their operations—invoices, payments, refunds, withdrawals, customer lists, balances—amidst a large spike in activity, is critical and increasingly mobile,” Goldberg said.
The payment platform has rolled out several new features recently, including voice-activated payments via Siri and integrations with Facebook Messenger. The addition of the business app could help position the company for more use in the enterprise, though it may see increased competition from Apple Pay, as reported by Larry Dignan at ZDNet. It also marks a move for the company to catch up with small business offerings from FreshBooks and Square, which recently reported strong third quarter growth.
PayPal Business is currently available in the US on iOS and Android. It will be available in other regions in 2017.
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