OnBuy Announces New Payment Gateway With PayPal
OnBuy, the UK's rapidly growing online marketplace, has partnered with global online payment specialists PayPal, in order to provide the service's payment gateway.
The move to PayPal means that both buyers and sellers can benefit from a robust level of security and protection, as well as offering buyers more payment options such as their existing PayPal balance, linked bank account, and supporting most major credit and debit cards.
Cas Paton, entrepreneur and founder of OnBuy, said: "This is fantastic news for OnBuy and in turn everyone using our platform - there are more than 230 million PayPal users around the world, so offering it as our payment gateway helps to improve customer confidence because it's a name they already know and trust.
"We're really looking forward to seeing how this further improves the experience for our sellers as more users will be confident in the site thanks to PayPal's existing credibility."
"We're really looking forward to seeing how this further improves the experience for our sellers..."
Cas Paton, Managing Director, OnBuy
Customers of the online marketplace will benefit from the new partnership as they will have access to PayPal's Buyer Protection scheme, offering assistance from the platform's expert dispute resolution team.
Cas added: "We are completely separate from any PayPal transactions made - and by that we mean that we are simply the facilitator of transactions, we never hold the sellers' money. After the item is dispatched, subject to any security checks by PayPal, PayPal pay the merchant directly and they'll get their money immediately."
OnBuy's sellers are now covered by the PayPal Seller Protection scheme for eligible purchases. More than 20 million merchants across the world use the gateway service as it offers an effortless solution. Every transaction made is encrypted and monitored to prevent fraud, email phishing and identity theft.
This announcement comes as part of a massive year of growth and development for the online retailer, including hundreds of new sellers joining the platform, with many witnessing exponential growth in sales.