As per the information detailed in the press release, eligible Stax Payments customers are enabled to accept payments with PayPal, Venmo, and PayPal Pay Later options through the Stax payment platform.
In addition to new payment options, the collaboration with PayPal provides Stax customers with nearly instant access to funds, fraud detection, and seller protection on eligible transactions, together with PayPal’s built-in compliance standards. What is more, PayPal’s more than 430 million global active accounts are now enabled to carry out purchases with those merchants.
The announcement highlights that the Stax – PayPal collaboration is a reflection of their shared vision to provide hassle-free experiences that help merchants grow their businesses and increase sales.
By being enabled to accept PayPal, Venmo and PayPal Pay Later options, Stax customers are to benefit from the following:
Customer experience improved by addressing their needs and providing some of the most well-known payment options and by offering customers the choice to pay with their preferred method.
Increased sales by providing a simplified payments experience that helps make purchasing easier, and by enabling customers to select a Buy Now, Pay Later offer that suits them best via PayPal PayLater solutions.
Expedited checkout implementation by allowing customers to make purchases in an easy manner, with the click of a button, which helps create a checkout process that has decreased friction.
When commenting on the announcement, Chris Staymates, chief technology officer at Stax advised that as customers have increasingly more ways to pay, merchants should be able to accept an extensive variety of payment options to be in line with the demand. Per the spokesperson’s statement, collaborating with PayPal enables the company to provide customers with the opportunity to create a simplified shopping experience for their buyers, bettering customer retention, and ultimately increasing their bottom. As the company is looking to keep pace with the rapidly changing fintech industry, the official believes the partnership with PayPal to be a step towards achieving this.
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