By <span style="color: #4bbb87;"><a style="color: #4bbb87;" href="https://www.paypal.com/uk/home">PayPal</a></span>

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<ul type="disc">
 	<li style="text-align: left;"><i>PayPal expands its consumer credit solutions through the introduction of PayPal Pay in 3 to UK market<u></u><u></u></i></li>
 	<li style="text-align: left;"><i>In the lead up to the busiest shopping season of the year, PayPal supports businesses of all sizes to drive sales, loyalty and increase payment choice for their customers</i><i>– all while getting paid up front</i></li>
 	<li style="text-align: left;"><i>The latest in a series of steps taken by PayPal to enable UK businesses to adapt to changing consumer demands<u></u><u></u></i></li>
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<p style="font-weight: 400;"><strong>London, 14 October 2020:</strong> PayPal today announced the launch of PayPal Pay in 3, enabling UK businesses of all sizes to offer buy now, pay later payments without taking on additional risk or paying additional fees.</p>
<p style="font-weight: 400;">Through PayPal Pay in 3, businesses can offer their customers the option of making purchases between £45 and £2,000 by paying over three, interest-free payments, with seamless automatic re-payments each month[1]. PayPal Pay in 3 will also appear in the customer’s PayPal wallet, so they can manage their payments online or via the PayPal app.</p>
<p style="font-weight: 400;">PayPal Pay in 3 will help businesses drive checkout conversion, revenue and customer loyalty, with the option included in the business’s existing PayPal pricing, paying no additional fees to enable it for their customers. PayPal will pay the business or retailer upfront for the full cost of the purchase.</p>
<p style="font-weight: 400;">In 2019, there was a 39% year-on-year increase in the proportion of buy now, pay later payments in the UK. This trend is expected to double by 2023.[2]</p>
<p style="font-weight: 400;">PayPal Pay in 3 allows companies from start-ups to globally recognised retailers to adapt to this changing consumer behaviour and offer a greater range of payment options. Retailers including Crew Clothing, French Connection, Robert Dyas and Ryman are integrating PayPal Pay in 3, which is available in the UK from late October 2020.</p>
<p style="font-weight: 400;">Rob Harper, UK Director of Enterprise Accounts at PayPal, said: “During the coronavirus pandemic, we have seen the number of people in the UK shopping online increase dramatically. At the same time, many more consumers are looking to spread the cost of those purchases. We have developed PayPal Pay in 3 to meet that need, building on our heritage as a responsible lender through PayPal Credit, which we launched in the UK in 2014, and has served more than two million customers to date.</p>
<p style="font-weight: 400;">“We will continue to support for UK retailers and businesses through these challenging times by helping them adapt to changing consumer behaviours around how they shop and pay – especially in the lead up to Black Friday and Christmas. PayPal Pay in 3 offers a flexible way for over 24 million PayPal users to shop while providing companies with a tool that helps drive sales, loyalty and customer choice.”</p>
<p style="font-weight: 400;">Businesses and partners can learn more about PayPal Pay in 3 and register interest <span style="color: #4bbb87;"><a style="color: #4bbb87;" href="https://www.paypal.com/uk/business/pay-in-3/pre-register" data-saferedirecturl="https://www.google.com/url?q=https://www.paypal.com/uk/business/pay-in-3/pre-register&amp;source=gmail&amp;ust=1602777593581000&amp;usg=AFQjCNFDbegsnp1PjJ2JBJmZMyURd18ftA">here</a>. </span></p>
<p style="font-weight: 400;"><strong>ENDS</strong></p>
<p style="font-weight: 400;"><strong>About PayPal</strong></p>
<p style="font-weight: 400;">PayPal has remained at the forefront of the digital payment revolution for more than 20 years. By leveraging technology to make financial services and commerce more convenient, affordable, and secure, the PayPal platform is empowering more than 300 million consumers and merchants in more than 200 markets to join and thrive in the global economy.</p>

PayPal launches ‘Pay in 3’ buy now, pay later loans to UK in time for Black Friday and Christmas

<div><strong>By PayPal Stories Staff: </strong>25/02/2019</div>
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<div>Great shoes, social media and PayPal Working Capital have helped The Shoe Snob to reach 45% year-on-year growth, underpinned by a loyal, international customer base. Director and co-founder Ngoni Tshekeche tells us how.</div>
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<div>“Justin and I met at Savile Row tailors Gieves and Hawkes. At the time, he was shining shoes there,” he recalls. “We were talking about what we would like to do. He talked about his passion for shoes and wanting to create his own line. I said, well, let’s go ahead and do it.”</div>
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<div>Justin Fitzpatrick, co-founder, had left his native America to study shoemaking in Italy with the famous Florentine shoemaker Stefano Bemar. Now settled in the UK, his vision was to combine the English tradition of sturdy, Goodyear-welted shoes with Italian flair and French shaping to produce an elegant, stylish and comfortable new take on respected styles.</div>
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<div>The pair started selling shoe polish and accessories in Gieves and Hawkes, and then on eBay but, as Ngoni says, “The idea was always to start a shoe line. We thought it would take us 6 months. It took us 2 years to finally launch.”</div>
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<div>“We just started with what we had,” the co-founder continues. “We put in £700 to buy the stock and then, when the shoes were ready, we came up with the required £42,000 from pre-sales, personal loans, our own money, whatever we could scrounge together.”</div>
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<div>Justin already had a successful blog and the pair adopted the name for their accessories business, <a href="https://www.theshoesnob.com/">The Shoe Snob</a>.</div>
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<div>“The blog gave us an audience and a customer base.”</div>
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<div>For the shoe line, and following the form of other successful shoemakers, the pair created a separate, personalised brand, <a href="https://www.jfitzpatrickfootwear.com/">JFitzpatrickFootwear.com</a>.</div>
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<div>The brands cross-sell each other, but keeping two separate web properties helps position the shoe brand for its market.</div>
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<div>“We haven’t invested as much as we would like in marketing so far, but social media has helped, especially Instagram,” says Ngoni. “We offer a made-to-order service and we try to post a picture of every order, which gives inspiration to others and gets the ball rolling. We’ve gained a huge following on Instagram and a lot of clients, too.”</div>
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<div><b>Without stock, we don’t have a business</b></div>
<div>The business grew quickly, but it soon became difficult to fund the stock necessary to sustain demand.</div>
<div>“When you see the number of products we have – the different models, colours and so on – and multiply that by at least 12 pairs of shoes for each, that becomes a significant investment. And, to sustain growth year on year, we need new models. As an online business, we are open to the world and we introduce new models to gauge what works well and what doesn’t in each market,” Ngoni says.</div>
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<div>Dealing with a bank, “the process would be so time-consuming. I know the amount of paperwork I’d have to prepare. I know my business and the potential that it has, but conveying that information to a bank manager is very difficult. Everyone wants proof: what can you show me that’s tangible?”</div>
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<div>Instead, the company turned to PayPal Working Capital.</div>
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<div>“With PayPal Working Capital the process is really quick. Now, I can access funds within minutes” says Ngoni. “And, because PayPal understands our business – it can see our transactions and our growth – it can offer more. It’s been a godsend for us.”</div>
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<div><b>PayPal Working Capital – the backbone of our growth</b></div>
<div>“The business has been growing at around 45%, year-on-year, and the funding we’ve received from PayPal Working Capital has been the backbone of that growth,” says Ngoni. “It has helped us buy the stock that we need to meet demand.”</div>
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<div>The company sells around the world, with showrooms in London and New York.</div>
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<div>“PayPal Working Capital has transformed our business. I like the ease of use and the fact that the money’s available quickly. When you have the money, you can place an order – you’ve got the ball rolling within a day.”</div>
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<div>“If we didn’t have PayPal Working Capital our business would be about half of what it is today, if not smaller.”</div>
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<div>Read more about The Shoe Snob, J Fitzpatrick and a passion for quality shoes in our customer case study, <a href="https://www.paypalobjects.com/digitalassets/c/EMEA/case_study/PPWC_Case_Studies_Shoe_Snob.pdf">here</a>.</div>

From shoe-shine to shoe line, the growth of The Shoe Snob

<strong>By Norah Coelho:</strong> 07/03/2019
<div>From photographers and fashion designers to florists and furniture restorers, the UK’s 5.7 million small businesses<a>[1]</a> form an integral part of the economy.</div>
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<div>The owners of these small businesses put their all into serving their customers day-in, day-out; and PayPal is equally committed to helping these businesses thrive in today’s ever-changing world.</div>
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<div>That’s why today we’re proud to announce that PayPal Working Capital has provided a huge £1 billion of cash advances to more than 37,000 British small businesses.</div>
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<div>PayPal Working Capital allows our small business customers to apply for, and receive, funding quickly online. We launched this alternative finance offering in the UK in 2014 in response to a real need among our dedicated customers for finance that’s as flexible as the small businesses they run.</div>
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<div>Five years on, the need clearly remains. The total amount we’ve advanced to small businesses increased by 60% in 2018 showing how fast, flexible finance alternatives such as PayPal Working Capital continue to provide a lifeline to the UK’s small businesses.</div>
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<div>What we’re particularly pleased to see is that 21% of the 116,000 cash advances we’ve issued are being used by our customers to help grow their business and turn their ideas into reality.</div>
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<div>Whether a small business needs £1,000 to launch a new website, £20,000 to start a new product line, or £130,000 to invest in manufacturing equipment, our customers can apply online for a cash advance of up to £150,000 against their future sales, at any time of the day or night.</div>
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<div>Instead of asking applicants to fill out lengthy forms and meet long-winded criteria, we judge eligibility based on their PayPal sales history. The process takes a matter of minutes, freeing up their time to do what’s really important: running and growing their business.</div>
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<div>There are no interest charges or late payment fees either. Repayments are applied automatically as a fixed percentage of a business’s PayPal takings, which gives them flexibility to repay only when they’re making sales<a>[2]</a>.</div>
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<div>Small businesses are the backbone of our economy. Here’s to many more milestone moments in supporting their success.</div>

PayPal backs UK small businesses with £1 billion of cash advances

<p>Digital payments platform that empowers people and businesses in more than 200 markets worldwide to send and receive money. Leveraging its two-sided network, PayPal connects businesses of all sizes with more than 400 million PayPal customers around the world and across many platforms and marketplaces. Consumers trust PayPal to buy, sell, and send money securely. PayPal serves 32 million active customers in the UK.</p>


PayPal

Digital payments platform that empowers people and businesses in more than 200 markets worldwide to send and receive money. Leveraging its two-sided network, PayPal connects businesses of all sizes with more than 400 million PayPal customers around the world and across many platforms and marketplaces. Consumers trust PayPal to buy, sell, and send money securely. PayPal serves 32 million active customers in the UK.

Director, PayPal Ventures EMEA

<p>Ashish is part of PayPal’s global Corporate Development and Ventures team. He focuses on M&amp;A and investment opportunities in Europe, the Middle East and Africa, including investing in the next generation of European startups through PayPal Ventures. Over the last four years with PayPal, Ashish has worked on 3 M&amp;A deals and 10+ investments. Prior to PayPal, Ashish spent five years at Deutsche Bank focusing on European Payments M&amp;A.</p>
