PayPal to improve customer experience with new acquisition
PayPal, leading electronic commerce company and payment platform, has acquired Happy Returns, a return logistics company to make e-commerce return easier for both sellers and buyers.
The acquisition is aimed at ensuring swift and seamless return of merchandise to retailers without having to box it up and ship it themselves.
Speaking about the company’s strategy in expanding its service to allow it compete favourably, PayPal CEO Dan Schulman said “The great thing is we are now seen as a strategic partner to our merchants, and our conversations have moved from how do we improve checkout conversion, which by the way we’ll always do, but really now, how can we use our platform capabilities across a merchant’s full customer experience from engagement to loyalty and help them drive incremental sales in the digital era.”
The PayPal Spokesperson added: “The post-purchase experience and returns is one area of the customer journey that we have had our eye on for a while and have heard from merchants that the need for solutions has increased during the recent shift to online commerce. The innovative Happy Returns team will serve as the nucleus for PayPal’s post-purchase offerings to merchants and consumers.”
With the acquisition of Happy returns which was launched in 2015 and having more than 2600 locations in the US, PayPal has extended its offerings beyond offers and deals or facilitating payment but now returns and engages in exchange.
In a statement published on the company’s website, Happy Returns said: “We are so proud of what our team has accomplished and are grateful for the tenacity, creativity and empathy Happy Returns employees bring to work each day. We are confident that the best is yet to come, and are looking forward to our next chapter as part of the PayPal organization.”
CEO Happy Returns, David Sobie also said his company will continue to offer value to hundreds of its retail customers affirming that it will benefit from PayPal’s scale and resources to expand and improve on its services.
Although PayPal is not disclosing the terms of the deal, Happy Returns is reported to have raised $25 million in funding.
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