SVP, Corporate Communications
SAN MATEO, Calif. LONDON, TORONTO and SINGAPORE—November 17, 2005—NetSuite, Inc., the leader in on-demand business management software for small and mid-sized businesses, today announced that NetSuite has integrated the PayPal payment service to provide businesses with comprehensive ecommerce solutions that will streamline the ecommerce process by providing merchants online payment options in conjunction with NetSuite's ecommerce solutions. The NetSuite integration of PayPal provides seamless end-to-end online transactions with real-time visibility. PayPal enables any individual or business with an email address to send and receive payments online securely, easily and quickly. PayPal has more than 86 million accounts and is available to users in 55 markets around the world. For more information about the NetSuite PayPal integration, please visit www.netsuite.co.uk/paypal.
The NetSuite PayPal integration allows merchants to safely accept online payments with no monthly fees. NetSuite merchants can begin accepting online payments immediately, activating the PayPal service in minutes, without any monthly commitments. Merchants can use the NetSuite PayPal integration to accept all major forms of payment, including Visa, MasterCard, American Express, Discover, debit cards, bank transfers and PayPal users' stored balances. With PayPal, NetSuite merchants can accept payments in six currencies—U.S. Dollars, Canadian Dollars, Australian Dollars, British Pound Sterling, Euros and Japanese Yen.
The NetSuite PayPal integration provides extensive fraud protection to protect merchants. NetSuite merchants can safely accept online payments knowing that PayPal fights charge backs on a merchant's behalf, and offers seller protection policies that help protect businesses from fraudulent transactions. PayPal has an industry-leading loss rate of 0.24 percent.
"NetSuite is committed to giving its customers tools that help them maximise their online presence," said Zach Nelson, CEO of NetSuite. "By integrating PayPal in conjunction with NetSuite's ecommerce solutions, we are allowing our customers to make full use of one of the easiest and most intuitive payment methods on the Web."
"Both PayPal and NetSuite are committed to making ecommerce easier for merchants all over the globe," said Stephanie Tilenius, vice president of merchant services for PayPal. "We're excited to work with NetSuite to provide online merchants with safe, easy and low cost online payments."
"We've gone through the pain of using other systems, and now we use PayPal and NetSuite. Both are critical to our business," said Troy Lawson, COO of Best Kiteboarding.com (www.bestkiteboarding.com), a provider of gear for the kiteboarding watersport, based in Delray Beach, FL. "PayPal is such a big name that it helps some customers feel more secure during the check-out. When the issue is whether or not a customer is willing to enter their credit card number online, PayPal often prevents us from losing those sales."
Availability and Pricing
Available immediately, the NetSuite PayPal online payment option carries no setup fees or monthly fees. Merchants pay a per-transaction fee of 1.9 percent to 2.9 percent plus 30 cents per transaction, depending on monthly volume.