PayPal, meanwhile, is so huge that many of GoDaddy’s customers already have PayPal accounts, so this was the obvious route to take for mobile and point-of-sale payments (via PayPal’s Here offering). Aldrich says that the mobile element was a “must have” in whatever payment service GoDaddy built.Īnd Stripe, he says, offers a “really innovative credit card processing service, with great support for developers. Professional services firms that can charge up to $1,000 on average for a transaction, he says, are uncomfortable running that with credit card rates, so Dwolla works better for those “high ticket” cases. PayPal, Dwolla and Stripe are already services that its customers are using and each of the three offer strengths in different areas. The reason for this, he explains, is two-fold. “We work through build, buy or partner ideas, and here we decided partnering was the right way to go,” he says. When you are talking about businesses that may only be pulling in $40,000 per year, every dollar makes a difference.”Īldrich says that the company decided for now to partner with established payment companies. Small businesses were losing track of who paid what and who owed money, rather than just getting paid then and there. “Less than half of our users accept credit cards, some would invoice, some would take sales over the phones. “They were using a hodge podge of different methods to collect payments,” says Steven Aldrich, GoDaddy’s SVP of applications (who joined GoDaddy as part of the Outright acquisition). The reason that GoDaddy decided to add payments is because they were seeing a regular complaint from their customers about getting paid in a timely and easy way for products and services, the company says. It also recently added an Office 365 integration with Microsoft. In the case of these two, the company grew by acquisition, buying bookkeeping startup Outright in 2012 and invoicing startup Ronin in 2013. The company already offers other financial services for small businesses in the form of accounting and billing. While Get Paid is GoDaddy’s first go at payments, it is not entirely out of context. You can see those transaction rates for the different services here. GoDaddy’s fees are outside of the commissions that the three individual services take on each transaction. GoDaddy will offer it in three service tiers starting at $4/month and increasing up to $15/month depending on added features like expense tracking, connecting your bank account and other accounting integrations. Get Paid will let users, most of whom had not been taking payments electronically before, accept credit cards, debit cards, eChecks (ACH) and PayPal transfers, and it will be available first to GoDaddy’s 9 million users in the U.S. Today, it is launching “ Get Paid,” a new online and mobile payments service created with existing digital payments heavyweights PayPal, Dwolla and Stripe. The latest of these puts GoDaddy further into the world of e-commerce. As GoDaddy gears up for a $100 million IPO, the domain and web services company is adding on more features that will help it make more profitable revenues from its 12 million small-business customers.
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