BigCommerce has added PayPal Credit as a payment option for merchants using its e-commerce platform.
Austin, Texas-based BigCommerce merchants may include a standalone PayPal Credit button to offer consumers flexible financing, which is particularly appealing for merchants selling higher-ticket items like furniture, BigCommerce said in a Friday press release.
PayPal signage is displayed in front of eBay Inc. headquarters in San Jose, California, U.S., on Tuesday, Sept. 30, 2014. EBay Inc. is spinning off its PayPal division, heeding demands by activist shareholder Carl Icahn and giving the business independence it can use to contend with rising competition from Apple Inc. and Google Inc. Photographer: David Paul Morris/Bloomberg
David Paul Morris/Bloomberg
The e-commerce company has offered PayPal as a checkout option since 2013 and earlier this year BigCommerce added Amazon Pay as another option for its merchants.
Separately, PayPal this week announced it’s selling $5.8 billion in credit receivables to Synchrony Financial, which has been a partner since 2004 for PayPal’s private-label credit cards.
The North Carolina-based bank rolled out a multiyear program to provide loans, investments and philanthropic support to communities in the western part of the state.
Consumer Financial Protection Bureau Director Rohit Chopra said the FICO credit-scoring model has drawbacks in price, predictiveness and market competition, and stakeholders should develop a more open-sourced model that uses artificial intelligence.
Analysts say lenders' shares could rally on deregulation, lighter tax burdens and a resurgence of M&A. Declining interest rates and lower loan losses could further bolster bottom lines and attract investor interest.
The contract gives the nation's oldest bank access to more than $3 billion in deposits a month. Comerica, the current administrator, has received a three-year extension of service to help with the transfer.
