PayPal (NASDAQ: PYPL) has added Apple Pay (NASDAQ:AAPL) as a payment option for its busines users, according to a corporate statement.
PayPal said that beggining today small businesse will accept payments with Apple Pay, allow customers to save payment methods with the PayPal vault and keep their cards up to date with real-time account updater.
PayPal already accepts of peyemtns such as its own product, Venmo and PayPal Pay Later options.
The move is in recognition of the growing demand by SMEs to accept Apple’s popular digital wallet. PayPal notes that this will mitigate shopping cart abandonment when users that prefer Apple Pay are not given that option.
The retail landscape contiues to evolve and small businesses need a range of tools to drive sales, and cut costs said Nitin Prabhu, VP, Merchant Experiences and Payment Solutions, PayPal
“With our complete payments solution, small businesses can get access to all of these tools with one integration.”
PayPal also pointed to its move to counter attempts at frqaud which are on the rise. PayPal offers Fraud Protection, Chargeback Protection and Seller Protection, on eligible transactions. Pricing for PayPal payments is 3.49% + 49 cents.