What's in a name? At San Jose, Calif headquartered PayPal, potentially a lot. That is because the payments innovator has now dropped “website” from its U.S. product names as it rolls out a suite of tools said to be aimed at helping small business collect money.
The headline on the official blog post from senior vice president Ed Eger stated the company's ambitions: “PayPal unveils the most comprehensive suite of small business payment tools to date, moves beyond online payments. Now, however you do business, PayPal gets you paid.”
Eger elaborated, “In the same way that Apple did when it dropped 'computer' from its name in 2007 to represent its move beyond the Mac to a comprehensive consumer electronics company, this name change represents our move away from our online heritage to the future of PayPal and the multi-channel nature of payments in the new retail environment.”
“Technology is changing the way people shop and pay more than any time in history. Small businesses should be focused on making their customers happy, not spending time worrying about handling the complex task of online, offline and multichannel payments in this new shopping environment– that's why we're announcing PayPal Payments, the most comprehensive payment solution available today,” blogged Eger.
Eger ticked off the PayPal range of offerings, which now include: Online payment; In-person, offline payments – “ability to accept credit cards, PayPal, and checks in person using your smartphone, a free thumb-sized creditcardreader, and app;” Mobile payments; Invoicing; and Debit card.
Eger also wrapped metrics around the present scope of PayPal's business. He said that PayPal processed $118 billion from more than 100 million users in 190 countries, including $4 billion in mobile payments last year.
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