GoDaddy Launches Payable Domains, Reimagining the Domain's Role in Business

Rhea-AI Summary

On February 23, 2023, GoDaddy (NYSE: GDDY) launched Payable Domains, enabling small business owners to accept payments through newly registered domains. This innovation allows users to create shareable links for secure transactions without needing a website. Payable Domains is integrated with GoDaddy Payments, featuring low transaction fees of 2.3% + $0.30. The initiative aims to enhance the utility of domain names, allowing entrepreneurs to establish an online presence quickly. GoDaddy's efforts reflect a commitment to simplifying commerce solutions for small businesses, further strengthening its suite of connected commerce tools.

Positive

• Launch of Payable Domains offers seamless payment acceptance for entrepreneurs.
• Low transaction fees of 2.3% + $0.30 enhance profitability for users.
• Integration with GoDaddy Payments streamlines the setup process for small business owners.

Negative

• None.

Newly registered domain names enable small business owners to easily accept payments from customers

TEMPE, Ariz., Feb. 23, 2023 /PRNewswire/ -- GoDaddy Inc. (NYSE: GDDY), the company that empowers entrepreneurs around the world, today announced the launch of Payable Domains, which allow entrepreneurs to register a new domain and easily start accepting payments from customers. GoDaddy is the first company to seamlessly bundle payment technology with the brand power of a professional domain – at no additional cost – to help small business owners start growing from day one. 

For more than 30 years, domain names have been essential to the digital identities of entrepreneurs and companies worldwide. Yet during this time relatively little innovation has occurred–– until now. Powered by GoDaddy Payments, Payable Domains are branded pay links that create a secure checkout page, shareable via a link, that enable U.S.-based domain name customers to begin accepting payments shortly after they purchase a newly registered domain, even if they do not yet have a website or online store. Any domain purchased after, or for any existing domain owners, the respective Payable Domain can be accessed through their GoDaddy back-end dashboard.

Combining the ability to accept payments with the credibility of a domain name enables small businesses to get up and running instantly. Small business owners can easily share their Payable Domain with customers through text, social media, QR code and more—and with GoDaddy Payments' industry-low transaction fees of 2.3% + $0.30 per online transaction, they will keep more of what they make.

"While there's been innovation around add-on products for domain names, such as Domain Privacy and Ownership Protection services, not much has been done to enhance the capability of domain names themselves," said GoDaddy President of Domains Paul Nicks. "Domains have largely been used as a digital identity for businesses, but with this new commerce capability we view the domain name taking on a far more versatile role for up-and-coming small businesses. The Payable Domain ultimately serves as an innovative and cost-effective tool for entrepreneurs to accept online payments before even setting up a website."

Now when a domain name is registered, its usefulness is no longer contingent on its owner creating a website and publishing content. Instead, domain owners can quickly start taking payments via their enabled Payable Domain. For example, if a person registers the domain of their name or business, such as www.roohshad.co, they will then receive the corresponding Payable Domain, pay.roohshad.co, to accept payments. Once that first payment is received, domain owners can then link a bank account to their GoDaddy Payments account, complete the verification process, and receive payouts for transactions just as they would with any other payments service. Payments are processed securely and efficiently, with funds deposited into users' bank accounts as early as the next business day.

In addition, small business owners can customize their Payable Domain with their company logo, product images, cost of their products or services, or other branded content to create a seamless checkout experience and maintain a personal and professional look.

"We're intensely focused on building connected commerce solutions that make growing a business easier, whether you've just named your business or are in the process of expanding its sales across the country," said GoDaddy President of Commerce Osama Bedier. "With Payable Domains, it's never been easier to start selling online."

Payable Domains is just one part of GoDaddy's expansive push to provide businesses with payment solutions out of the box. GoDaddy Payments is integrated and easily enabled in a host of GoDaddy commerce products, including GoDaddy's Website Builder, Managed WordPress and Managed WooCommerce Store plans, GoDaddy Point of Sale and more. This latest innovation strengthens GoDaddy's suite of connected commerce tools that empower entrepreneurs with everything they need to start, grow, and scale their business.

Stay on top of the latest news and learn more about Payable Domains.

About GoDaddy

GoDaddy helps millions of entrepreneurs globally start, grow, and scale their businesses. People come to GoDaddy to name their idea, build a professional website, attract customers, sell their products and services, and accept payments online and in-person. GoDaddy's easy-to-use tools help microbusiness owners manage everything in one place and its expert guides are available 24/7. To learn more about the company, visit www.GoDaddy.com.

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/godaddy-launches-payable-domains-reimagining-the-domains-role-in-business-301754432.html

SOURCE GoDaddy Inc.

FAQ

What is the purpose of GoDaddy's Payable Domains launched on February 23, 2023?

Payable Domains allows small business owners to accept payments via newly registered domains without needing a website, providing shareable payment links.

How much are the transaction fees for GoDaddy Payments?

The transaction fees for GoDaddy Payments are 2.3% + $0.30 per online transaction.

What benefits do Payable Domains provide to small business owners?

Payable Domains enable instant payment acceptance, enhance domain utility, and allow customization for a professional checkout experience.

How does GoDaddy aim to help small businesses with its new Payable Domains feature?

GoDaddy aims to simplify the online selling process for small businesses by integrating payment solutions directly with domain registration.