Checkout.com vs PayPal
Last updated: January 12, 2021
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PayPal is an international e-commerce business allowing payments and money transfers to be made through the Internet. Online money transfers serve as electronic alternatives to paying with traditional paper methods, such as cheques and money orders. PayPal is the faster, safer way to send money, make an online payment, receive money or set up a merchant account.
Checkout.com vs PayPal in our news:
2021. Checkout.com raises $450 million and reaches $15 billion valuation
Payments company Checkout.com has closed a $450 million Series C round. Checkout.com wants to build a one-stop shop for all things related to payments, such as accepting transactions, processing them and detecting fraud. It focuses on large merchants and tries to make its product as customizable as possible so that you integrate it as an infrastructure partner in your product.
2020. PayPal to let buying and selling cryptocurrencies
PayPal has been granted a conditional BitLicense by the New York State Department of Financial Service and partnered with cryptocurrency company Paxos to launch a new service. PayPal users in the U.S. will soon be able to buy, hold and sell cryptocurrencies. More countries are coming soon. PayPal plans to support Bitcoin, Ethereum, Bitcoin Cash and Litecoin at first. You’ll be able to connect to your PayPal account to buy and sell cryptocurrencies.
2018. PayPal Checkout improves personalization
PayPal introduced new checkout technology for e-commerce sites that will dynamically present the most relevant payment method for each customer. That is, instead of retailers having to litter their checkout page with a variety of payment options, PayPal Checkout’s new “smart payment buttons” will update to display the right set of options for each customer in each geography. That means retailers can more easily include alternative payment methods, like local wallets and country-specific options, alongside a PayPal button.
2018. PayPal integrates with Gmail and other Google services
Google earlier this year rebranded all of its payment services under Google Pay to help it double down on making transactions across its platform more frictionless (and more used). Now comes another development: PayPal and Google are kicking off a deep integration, where users who add their PayPal details to their Google Play accounts will be able to pay bills and for other items, using PayPal, without logging in and without leaving the Google services. The integration, when it goes live later this year, will cover apps like Gmail, YouTube, Google Store and any services using Google Pay — and it will include not just payments but also peer-to-peer transfers.
2018. PayPal acquired Square of Europe - iZettle
PayPal is taking its biggest bet yet on point-of-sale transactions, small businesses and markets outside of the U.S. as it looks to raise its game against Square, Stripe and others in the world of payments: The company has confirmed that it is buying iZettle — the Stockholm-based payments provider commonly referred to as the “Square of Europe” — for $2.2 billion in an all-cash deal. Like Square, iZettle has made a lot of headway in building out a point of sale business by way of a card-reading dongle that links up with a smartphone or tablet, working with smaller businesses that might have never used a card service in the past because of the prohibitive costs of taking card payments. From that, it has extended into other financial services for those business, from inventory management to loans.
2017. PayPal acquired small business lending service Swift Financial
Global payments processing company PayPal has agreed to acquire Swift Financial, which provides small business owners with working capital. The acquisition will give PayPal better tools to expand its own product Working Capital. Paypal first launched a Working Capital product for businesses back in 2013, and since then has seen Square, Kabbage and other alternatives emerge as offering their own credit lines to small business customers. With that in mind, PayPal has acquired Swift to add to its own underwriting capabilities and expand the amount of data it can use to assess the creditworthiness of its customers. Doing so should expand the amount of capital it makes available.
2017. PayPal launched small biz toolset Business in a Box
PayPal launched a new service called Business in Box, aimed at bringing more U.S. small business owners to its payments platform. The service, which was developed in partnership with WooCommerce and Xero, offers merchants a suite of tools for running their online businesses, including an online storefront, accounting tools, the ability to apply for working capital from PayPal, and of course, support for taking payments either online or offline, via PayPal. Business in a Box is largely aimed at first-time business owners who already know what they want to sell and have a roadmap in mind, as well as at established offline businesses that want to make the move online.
2017. PayPal teams up with Android Pay for mobile payments
PayPal and Google announced an effort aimed at allowing PayPal to expand its footprint both within mobile applications as well as at brick-and-mortar retailers. The partnership will see PayPal becoming available as a payment method in the Android Pay service, which will allow U.S. users to pay for things like Uber as well as at retailers like Walgreens, and restaurants like Dunkin’ Donuts and Subway. The integration in Android Pay will begin by allowing Android users to select their PayPal balance as a method of payment, but will expand to include the cards users have added to their PayPal account in the months ahead.
2015. PayPal acquired international money transfer company Xoom
PayPal has acquired money transfer company Xoom for $890 million, a move that brings millions of international customers to the company. Xoom bills itself as "an international money transfer service" that allows people to send money across borders. Xoom recently expanded into China and Pakistan, and is popular in a variety of developing markets — an advantage that PayPal President Dan Schulman highlighted. The acquisition is PayPal's first major move since its announced split from eBay, a move investors had demanded. PayPal is expected to complete the separation later this year. Xoom will continue to operate as a separate company under PayPal.
2014. PayPal will split from eBay in 2015
eBay and PayPal are going their separate ways, with the payments company moving out from under the eBay umbrella to form its own, publicly-traded company. The move is intended to help both businesses grow faster in their respective markets. The spin-out of PayPal is expected to be complete by the second half of 2015, provided all regulators sign-off on the agreement. Both companies will get new CEOs as part of the deal, with eBay Marketplaces President Devin Wenig taking over at eBay, and PayPal President Dan Schulman presiding at PayPal. eBay picking up PayPal was about trying to inject some energy into its instant buy, same-day delivery and curated storefront businesses, but with PayPal’s forays into mobile payments, including its Braintree acquisition and its One Touch system, the company is moving more and more towards in-person mobile transactions and away from online commerce.