Moving beyond payments to solve the evolving needs of SMBs with PayPal’s Michelle Gill
As small businesses navigate a landscape of increasing costs and evolving consumer behavior, how does a global payments provider like PayPal adapt? On this episode, Michelle Gill, EVP and General Manager, Small Business and Financial Services Group of PayPal, delves into the strategies that have positioned PayPal at the forefront of supporting small businesses.
Key Takeaways:
(02:02) Authenticity and staying true to oneself are key to leadership.
(05:14) PayPal started with small businesses on eBay and now supports SMB growth through five key jobs: get customers, get paid, pay vendors, manage cash flow and run operations.
(09:01) PayPal Complete Payments offers a single integration for multiple microservices, including Fastlane, which cuts checkout time by 32%.
(11:13) Fastlane boosts conversion rates by up to 50%, making checkout quicker and reducing customer drop-offs, benefiting both merchants and consumers.
(17:00) Prioritizing customer acquisition while also addressing operational needs, especially for smaller businesses, to support overall growth.
(20:22) PayPal offers flexible payment solutions that integrate with both its hardware and vertical-specific systems, focusing on partnerships over competition.
(22:57) PayPal collaborates closely with complex international partners to build versatile solutions, ensuring they address both broad and specific merchant needs.
(25:10) Understand your customers by speaking to them directly, allowing for unfiltered feedback, and never assume their needs — always ask and listen.
Resources Mentioned:
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