Global online payments major PayPal has a new offering for small merchants and businesses. It has launched a product called Business in a Box to allow small business set up online stores, accept payments, manage finances and apply for working capital.
In a statement put out by the company, PayPal says that serving small businesses is at the heart of the company’s mission. Currently this service is limited only to small business owners in the US.
For Business in a Box, PayPal has tied up with WooCommerce and Xero to bring to small businesses, an integrated solution that gives them all the tools required to start a new business online. All the tools, the company says, will be tied together by the user’s PayPal Business account. Small businesses can even make payments through cards and Net Banking through this service.
The service lets small businesses with knowing what to sell, what their profit margins should be, how to set up online point of sale payment methods, how to acquire customers, manage finances and even gives them a real-time view of cash flow. Xero will provide accounting tools.
These services can also be used by established businesses that are looking to move online. In this case, PayPal Business in a Box helps businesses set up a website and once eligible, gives you access to a PayPal working capital business loans to help fund growth.
PayPal Working Capital has so far helped more than 115,000 businesses around the world by giving them access to more than $3 billion in loans and cash advances since it launched in 2013.