PayPal announced a new payment option this week through its partnership with WebBank. PayPal Pay Monthly is a new ‘buy now, pay later (BNPL) feature that allows customers to extend payment timelines on larger purchases.
The plan is for purchases between $199 – $10,000 with the option to spread payments over a 6 to 24-month timeframe. The first payment is due one month after purchase and interest rates vary from 0%-29.99% based on your application and timeline.
Customers should see the option at checkout and, upon selection, will see a prompt to apply. From there, customers can choose from a range of payment plans to fit their budget.
Speaking about the launch, Greg Lisiewski, Vice President of Shopping and Pay Later at PayPal, stated, “Pay Monthly builds on our commitment to deliver leading payment solutions that offer customers the choice to ensure checkout matches their needs and budgeting preferences.”
The new option should beef up their BNPL payment option product line that includes PayPal Pay in 4. Both payment options offer no late fees and the ability to choose automatic payments.
For merchants, Pay Monthly is automatically available in their back-office with no cost, risk, or integration process. And they’ll be able to use dynamic messaging to present the payment options early in the customer journey as a head-up that the option is available at checkout.
Amazon to test drone delivery program in small California town
We announced Walmart’s drone plans back on May 30th. And now it seems Amazon won’t be left behind on the drone front. The company announced it’s in talks with the US Federal Aviation Commission (FAA) to get permission to test its own drone delivery program Prime Air.
Lockeford, California — 8.4 sq. miles; a population of 3,500 — will serve as the test city according to the announcement. Residents will provide feedback about Prime Air, which will provide Amazon with a blueprint for launches in future cities. The company said it will invest in the community and create new jobs.
The drones can fly up to 400ft in the air, at speeds up to 50 miles per hour, and can carry packages up to 5lbs. Because of the weight limit, not everything in the Amazon marketplace will be available. But the site will display eligible products for Prime customers in Lockeford.
According to Amazon, the drones will fly to a customer’s home and descend on the backyard. There it will hover, release the package, and leave. To avoid hitting things, the drones have a “sense-and-avoid” system that auto-corrects its course.
On June 14 – 15, a select group of sellers will take part in Etsy’s first virtual market called ‘Etsy Market’. The program will allow viewers to go behind the scenes with these Etsy sellers and see how they create their products.
Potential buyers will also be able to interact with the sellers during their presentation just as though they’re in a live market. The company stated the program will unlock “new ways for sellers to build meaningful connections around their shops.”
Don’t worry if you’re an Etsy seller who missed out on taking part in the event. The company is taking applications for future Etsy Markets.
Lemonero raises over €10 million in seed round
Lemonero, a leading Czech eCommerce startup, raised over 10 million Euros in a seed round this week. The company provides merchants with data insights that can predict their cash flow and monitor finances.
Previously, the company initially worked solely from loans. But after this funding round, Lemonero plans to expand to several other countries in Europe, including France and the Netherlands.
The expansion will open up short-term loans of up to €500k to thousands of eCommerce entrepreneurs. Using its data-driven financing model, Lemonero intends to “make growth capital more accessible through artificial intelligence.”
Speaking about the seed round and expansion, founder and CEO Jan Laštůvka stated, “More than 70% of our clients repeatedly return to us, and that is the key indicator of quality and satisfaction. That is why we believe in our future success in Europe.”
Huboo coming to Germany soon
Add Germany alongside the Netherlands and Spain as a country where Huboo operates. The UK-based eCommerce fulfillment company is active with its expansion plans and purchasing warehouses in the country.
Huboo’s warehouse in Leipzig will kick things off. When the warehouse is complete, the company will have 378k sq meters of total space for fulfillment. And although the company used to cater to SME businesses, this warehouse and others are now open to eCommerce businesses of all sizes.
Regional Sales Manager at Huboo, Roeland Van Duifhuizen, stated, “Expansion is our main focus this year, along with growing our existing operations in markets like the UK and Spain. We have recently opened our biggest fulfillment center in Chippenham. Plenty more will follow soon.”
Walmart seeks UK eCommerce sellers for Walmart.com
Walmart is looking to give eCommerce sellers in the UK alternatives to eBay and Amazon. The company is seeking British businesses to join its online marketplace and sell goods through Walmart.com.
Today, Walmart is hosting a UK Sellers Summit in London and invited sellers from a variety of retail sectors. It seems to be a solid opportunity as their site is visited by 120 million people per month.
Walmart is also making the deal a little sweeter for sellers by offering guaranteed two-day shipping to the US for a sizable chunk of the year. They’re also providing access to additional services that will help sellers generate sales in the States.
Amazon Prime Day is just around the corner
If you’re not aware, here’s a friendly heads-up that Amazon’s annual Prime Day lands on July 12 and 13th this year. However, the company is offering early deals and extra savings for Prime members starting June 21st.
This year the company is incentivizing users to make purchases from small businesses. When a Prime member spends $1 on an eligible product, they’ll gain a chance to win what they call “epic” prizes from the retailer.