what advantage does PayPal and what’s likely to be the merchant take-up?

we’re bringing our PayPal painful program into the Australian
market it’s going to be available to our 9 million users here
in Australia, in June it’s going to be interest-free to consumers
it’s going to be no additional cost to our business partners
so available at hundreds of thousands of our business
partners here in Australia and millions of business
partners around the world we’re delivering this in in
response to our customer feedback when we launched
our pay later program PayPal paying for in us and in
the UK and in France we were inundated with feedback
from our business partners in Australia that they
were looking for us to expand our choice and flexibility
and be able to offer that one-stop-shop for their business
needs and so it’s really exciting that we’re able to deliver
that to Australia today

customers I’m wondering what sort of numbers to hit in the Australian market at that same time?

we’re looking to just deliver this to the expectations of
our customers the 9 million users will be able to use
this from June the hundreds of thousands of businesses
here in the market the in us we uh this was one of the
fastest products that PayPal has ever launched and so
we’re hoping to see similar success here by offering the
choice and flexibility that our businesses are expecting
but obviously with the security ease and convenience
that uh that our customers in this market are expecting
of us, we have our buyer protection policies we have our
seller protection policies protecting our businesses and
they and PayPal paying for transactions are all eligible
for those policies and so we’re able to offer that as that
one-stop-shop that our customers are looking for their
payments needs

we have seen a boost in this sector given the coronavirus
pandemic and everybody working remotely and virtually

how much of that boost do you expect to last post covert?

even pre the pandemic we saw some growth where
customers were looking for that seamless checkout
experience so they weren’t prepared to enter 16 digits
then an expiry in their CVV they were looking for a for a
seamless checkout experience now covert delivered to
you know a requirement for our customers to actually
trans transact online it went from being nice to have to
a necessity and so there were two million uh new
Australians that actually transacted online during covert
for the first time and we’re able to offer them the seamless
experience with the security and the ease and the convenience
that they’re actually looking for so so we’re expecting to
the customers continue to enjoy all of the benefits
and also with now with PayPal paying to give them
more choice and flexibility in the way that they can
transact online

who are you expect clients in Australia?

(PayPal) we will offer this to all of our business customers
here in Australia, it will sit behind the PayPal button so a
customer can click on that PayPal button then they’ll see
their check account their let’s see their bank account
their credit card their debit card and now they’ll say PayPal
paying for so this capability is going to be available to all
of our businesses and all of our customers here in Australia

the ever-looming kind of risk the the the clouds of regulation something

PayPal operates in 200 markets around the world so
regulation is something that we uh we are very familiar
with we are very active with regulators and we continue
to strive to make sure that we meet the regulatory
obligations that we have in each market and Australia
is no different from that so we will look at regulation
whether it exists today or whether it’s pending and we’ll
assess the assess that and look for ways of being able
to deliver against the regulatory obligations and also
those obligations all the the the requirements of
the industry groups as well

what kind do I guess synergies or momentum do you expect to get from being able to cross-sell this product?

PayPal about delivering our businesses and our customers
a one-stop-shop and so really we’ve got our instant payment
solution with our debit card credit card and bank account
funded transactions we’ve got our pay after the delivery
a program that has been in the market for a number of
years and continues to see success and now we’re able to
expand that capability into the buy pay later space
deliver it to our business customers at no additional cost
to to their current arrangements and they have in place with
PayPal today and so we look at this holistic arrangement
and holistic capability that we’re able to take to this business
customers and to our consumers and don’t really look to
you know cross-selling is about delivering that one-stop
payment solution thankyou