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INSERTING and REPLACING Bold Commerce Integrates PayPal Bringing Payments and Commerce Together
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary
Bold Commerce has partnered with PayPal (NASDAQ: PYPL) to enhance the ecommerce landscape by integrating payment and checkout solutions. This collaboration empowers retailers to utilize Bold Commerce's headless checkout suite alongside the PayPal Commerce Platform, enabling the acceptance of various payment methods, including PayPal, Venmo, and credit cards. With over 53% of shoppers abandoning carts, this integration aims to drive conversion rates by providing tailored checkout experiences across multiple platforms. Retailers can seamlessly manage payment methods and checkout capabilities at various customer touchpoints, ensuring a flexible and efficient shopping experience.
Positive
New partnership with Bold Commerce enhances PayPal's market presence in headless commerce.
Integration allows retailers to accept a variety of payment methods, potentially increasing transaction volumes.
Aims to reduce cart abandonment rates by offering tailored and flexible checkout experiences.
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None.
New Integration Offers Shoppers Flexibility in Payment Methods and Checkout Channel
AUSTIN, Texas & WINNIPEG, Manitoba--(BUSINESS WIRE)--
Please insert as the first paragraph of the release the paragraph beginning "Bold Commerce, the ecommerce technology company...." The paragraph was accidentally omitted from the release.
The updated release reads:
BOLD COMMERCE INTEGRATES PAYPAL BRINGING PAYMENTS AND COMMERCE TOGETHER
New Integration Offers Shoppers Flexibility in Payment Methods and Checkout Channel
Bold Commerce, the ecommerce technology company that powers checkout and subscription experiences for leading retailers and DTC brands, today announced a new integration with PayPal (NASDAQ: PYPL), the financial technology company that empowers consumers and merchants to join and thrive in the global economy with its payments and commerce platform. PayPal is working with Bold Commerce to bring payments and commerce together as the fintech company moves into the growing headless commerce market. Through this integration, retailers and brands can use Bold Commerce’s headless checkout suite together with the PayPal Commerce Platform to launch sales channels beyond their traditional website and accept the full line up of payment options, including PayPal, Venmo, PayPal Pay Later solutions, and credit and debit cards.
With over half of shoppers (53%) abandoning checkout before completing their purchase, retailers have long understood the need to improve checkout, but have previously dismissed it as too costly and complex to change. In order to drive conversion and grow their business, retailers need to offer tailored checkout experiences based on shoppers’ profiles and how they’re shopping (e.g., device, touchpoint, location). This requires extending the checkout experience beyond conventional ecommerce channels to meet shoppers where they are, with the flexibility to offer payment options that meet their preferences.
The collaboration between PayPal and Bold Commerce enables retailers to accomplish this by bringing payments and checkout together into a single, pre-integrated solution. Retailers can now place checkout capabilities wherever shoppers interact–like blogs, social, and QR codes on packaging. Additionally, retailers can manage and accept a full range of payment methods, including PayPal, Venmo, PayPal Pay Later solution, credit and debit cards, and multiple local payment methods, through a single payment service.
By bringing Bold Checkout together with PayPal’s offering and its more than 430 million active accounts, the collaboration sets the stage for the largest global cross-merchant network effect for ecommerce. Using both PayPal and Bold Commerce, retailers can drive revenue growth through increased checkout conversion on their website and new shoppable touchpoints. Retailers can leverage the headless, all-in-one payments and checkout solution through Bold’s Checkout Experience Suite—and drive more revenue without the cost and time involved to replatform.
“Payment choice and flexibility have always been a critical part of a successful commerce experience–but it’s only one part of the equation. Retailers today need to also offer a tailored checkout experience to help drive increased conversion,” said David Bruce, VP, Global Head of Channel Partnerships, PayPal. “It’s a powerful combination for a composable checkout to plug into any tech stack, and we’re excited to deepen our commerce capabilities with Bold Commerce.”
PayPal and Bold Commerce are currently the preferred payment providers for brands like Harry Rosen and Vera Bradley.
“The checkout experience needs to extend to everywhere shoppers are today, which also means that a full range of payment options need to be available to shoppers wherever they are,” said Yvan Boisjoli, Co-Founder, Bold Commerce. “Through this new integration we’re making it easy and accessible to power checkout anywhere, with any payment method. We’re looking forward to working with PayPal as they make this move into headless commerce.”
Bold Commerce delivers high converting, customizable checkout experiences to power anywhere commerce. The company offers retailers a flexible alternative to their native ecommerce platform checkout, so they can elevate the checkout experience with the risk, cost, or complexity of replatforming. More than 9,000 brands and retailers, including Vera Bradley, Staples Canada, Pepsi, and Mars, currently rely on Bold Commerce to tailor their checkout experiences and maximize checkout completion rates.
About Bold Commerce
Bold Commerce is powering anywhere commerce for brands by delivering high-converting, customizable commerce experiences. The company works with leading omnichannel retailers like Vera Bradley, Harry Rosen, and Staples Canada, and emerging DTC brands, such as Pepsi, Mountain Dew and Game Fuel, and Mars to reimagine commerce. Its proprietary suite of modular checkout, subscriptions and price rules solutions is compatible with multiple ecommerce platforms and headless architectures. Bold Commerce has been named to Deloitte’s Tech Fast 50, E&Y’s Entrepreneur of the Year, and CBInsights’ Retail Tech 100.
What is the recent development involving PayPal (PYPL)?
PayPal has announced a partnership with Bold Commerce to integrate payment and checkout solutions to enhance ecommerce capabilities.
How does the Bold Commerce and PayPal integration impact retailers?
The integration enables retailers to offer a variety of payment methods and improved checkout experiences, potentially increasing conversion rates.
What payment options will retailers have through the Bold Commerce and PayPal integration?
Retailers will be able to accept payments via PayPal, Venmo, credit and debit cards, and other local payment methods.
What percentage of shoppers abandon their carts according to the press release?
According to the release, over 53% of shoppers abandon their carts before completing their purchase.
What is headless commerce, as mentioned in the PayPal press release?
Headless commerce refers to an ecommerce architecture where the frontend and backend are decoupled, allowing flexibility in customer interactions across various channels.
