The image has a dark blue background with a grey globe being watered by a peach coloured watering can. There is text to the left of the globe and watering can that reads 'Renewed PayPal partnership to power international growth'.

OnBuy And PayPal Renew Collaboration As Marketplace Nears International Expansion

Published 3rd December 2021
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Online marketplace OnBuy has recently invested millions of pounds into product improvements and localised payment options as it prepares for its anticipated international expansion. 

At the top of the list of developments is its long-standing collaboration with PayPal, which has been significantly improved with a two-year deal, while also upgrading to its latest PayPal Commerce Platform. The upgrade will provide a streamlined payment process for customers, powered by a new streamlined checkout process. This will mean fast, simple payments for customers with both PayPal accounts and debit/credit cards.

For retailers, fund distribution is made simple and in the knowledge that their earnings are held by PayPal, and the company works hard to keep transactions secure.

The newly-inked deal marks a huge milestone towards international growth which could mean access for millions of new merchants and customers, and in turn help its existing retailers to grow with the fast-scaling marketplace. The improved platform will provide access to more payment solutions, credit solutions as well as other major products within the PayPal portfolio. 

Global support will be on hand with localised payment options, meaning a streamlined user experience for merchants and customers alike. Prepared to support a number of countries in the imminent growth phase, OnBuy is poised for a multi-currency, multi-language and multi-country expansion.

The announcement follows other significant improvements to OnBuy, with recent developments to its search function alone resulting in more than £5.5M in sales for its retailers.

With its disruptive approach to eCommerce, OnBuy has continued to succeed in challenging the monopoly* of online marketplaces in the UK. As more retailers are becoming increasingly tired of the negative and competitive experience, OnBuy has fast become a trusted alternative - providing a fair and transparent marketplace that vows never to retail any products, never to launch an ‘own’ brand range, and compete with retailers. Unlike other platforms, merchants can rest assured that OnBuy will remain a fair marketplace for all retailers to sell through.

“Brands and retailers alike are in safe hands with OnBuy,” commented Cas Paton, Founder and CEO of OnBuy. “We are a partner to retailers and are proud to be a platform built on fairness and transparency. We will never be a retailer of product or compete with our vendors, and we mean that.

“I was told on day one that creating OnBuy would be ‘impossible’, I was told I was crazy to take on the ‘big players’. But it’s clearer now than ever that OnBuy is changing the way marketplaces work for retailers. We know that if we can deliver what’s needed for retailers to thrive, we can in turn deliver the best in choice for our customers.

“The journey building our brand has been incredible so far, but we’re really just at the beginning. Our focus now is to finesse our platform, improve our product and pave the way for international growth.

“Our renewed collaboration with PayPal will help us commit to our promise to retailers by facilitating growth through simple, efficient and safe payment solutions.”

The fresh outlook that provides retailers and customers alike with a fairer marketplace has attracted plenty of interest from investors too. OnBuy recently closed its Series A+ fundraise which saw £35M of investment - a mix of debt and equity - raised through venture capital and strategic technology investors. The investment will fuel further meteoric growth for OnBuy, with sights firmly set on reaching unicorn status in the coming years. 

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