PayPal: Payment Pro, a New Payment Product for Small Businesses
June 21st, 2005 by Laurie BarakSource: PayPal
PayPal [has] launched PayPal Website Payments Pro, a new product suite for small- and medium-sized businesses.
Website Payments Pro features three new functions: Express Checkout, Direct Payment API and Virtual Terminal. With these functions, merchants can offer shoppers more choice in how they pay for items - with their PayPal accounts, their credit cards, or by phone, fax or mail - all through PayPal, a single provider.
Express Checkout helps buyers with PayPal accounts pay for items in just three clicks on a merchant’s website. The buyer initiates and approves PayPal payment earlier in the checkout process, and shipping and billing information is sent immediately from PayPal to the merchant website.
For buyers who don’t have PayPal accounts, Direct Payment API lets merchants accept credit card transactions just as they would with traditional merchant accounts. The buyers simply enter their credit card details directly on the merchant website. Payments are processed through the PayPal system on the back end, and PayPal remains invisible to the buyers.
Website Payments Pro also includes Virtual Terminal, a new feature that supports phone, fax and mail orders by providing merchants with an online interface to manually enter credit card transactions through the PayPal system.
Link to the entire PayPal press release here.
