Small business owners navigate a whirlwind of tasks, perpetually racing against the clock. In their relentless pursuit of efficiency and security, they’re constantly on the lookout for streamlined and economical solutions, especially in the realm of payments processing.
They routinely face a myriad of challenges, from attracting new customers and managing cashflow to driving sales. Among these challenges, one puzzle stands out: the elusive process of converting prospects into loyal customers. According to the 2024 PayPal e-Commerce Index1, two-thirds (66%) of British consumers have abandoned a sale at checkout. The top reasons for doing so were because the payment process took too long (24%), security concerns (27%), and simply because the site didn’t offer their preferred payment method (24%). Globally, cart abandonment may be even higher – the online user experience researchers Baymard Institute put it at 70% – that’s a lot of lost sales.
For companies to clinch sales, and drive profitability and growth, customers seek payment security and a choice of ways to pay. Many businesses are finding the solution to these needs through PayPal Complete Payments – a global payment solution that prioritises security while enabling small businesses in the UK to accept a range of payment methods. These include Apple Pay2, Google Pay3, credit and debit cards, PayPal Pay in 34, and alternative payment methods from around the world.
The London Candle Company is one of many businesses that have chosen PayPal Complete Payments for their payment processing. It made the move after finding itself increasingly selling direct to consumers rather than to other companies. Founder and managing director Jonathan Welland says he was attracted by the range of payment options he could offer, and because he felt his customers trusted PayPal.
Welland learned the candle trade almost by accident while studying political science at the University of Nottingham. Away from his academic studies, he did occasional work at a local candle shop, and this piqued his interest in starting his own candle business. In 2015, he launched The London Candle Company, an online retail business with a focus on selling high-quality, competitively priced candles in bulk to the catering and hospitality industries. However, when the Covid pandemic hit, many of his hospitality customers had to close their doors temporarily, forcing Welland to act swiftly.
“I had to pivot to expand my business model from solely serving business customers to also serving consumers,” he says. “Today the business comprises 60% business-to-business (B2B) and 40% business-to-consumer (B2C).”
As his move into the B2C space continued, Welland realised that he needed to upgrade his website payment options, and saw that leveraging PayPal’s trusted brand credentials and payment choices made it a good fit with his business. “Before integrating PayPal Complete Payments, we were paying higher processing fees5, and because I had to reconcile my payments across multiple payment partners, I was essentially adding extra work to my plate,” he says.
“Now, with PayPal, I can offer my customers a range of payment options and save time by having everything in one place. I’ve also noticed that funds from my sales are settled fast. That really helps from a cashflow perspective.”
The London Candle Company integrated PayPal Complete Payments in April this year, and Welland was very happy with the ease of the process. “Our website is a WordPress and WooCommerce site, and there were no issues at all with integration,” he says. “It was an easy process, and the PayPal tech team was extremely helpful. PayPal Complete Payments communicates nicely with our website.”
To help small businesses drive conversions and encourage repeat buyers, PayPal Complete Payments enables businesses to allow customers to securely store their payment methods in the PayPal vault, providing them with a quick and easy shopping experience in future.
For the seller, the platform offers Fraud Protection6, and the management of disputes and chargebacks (the return of money to a buyer). Vincent Belloc, managing director at PayPal UK, says: “With Fraud and Chargeback Protection7, British small businesses can leverage this solution to mitigate financial risks and minimise time spent on dispute resolution.”
So, PayPal offers security and convenience to sellers and buyers alike – a factor that can have a huge impact on how a business is perceived and, ultimately, its success. Welland says: “Our customers really trust the brand because PayPal works hard to keep transactions secure.
“As a business owner, I also know that PayPal works hard to protect eligible business transactions through things like Seller Protection8. It’s allowed me to develop a B2C model that works well for me and my customers.”
Discover more information about PayPal’s Complete Payments Solution
1 PayPal’s 2024 E-Commerce Index, based on a study conducted by Fifth Quadrant with 2,047 consumers and 623 businesses across the UK in July-August 2023.
2 Apple Pay is a trademark of Apple Inc, registered in the US and other countries and regions.
3 Google Pay is a trademark of Google LLC.
4 Pay in 3 is an unregulated credit agreement. Availability is subject to merchant status, sector and integration. Pay in 3 use is subject to status and approval and can make credit less accessible or more expensive for the consumer. See product terms for more details.
5 These results may not be typical and may vary substantially by business. This content is provided for informational purposes only. You should always obtain independent business, tax, financial, and legal advice before making any business decision.
6 Terms and exclusions apply to the Fraud Protection tool. Fraud Protection is available for accounts enrolled in Advanced Credit and Debit Card Payments. See terms.
7 Terms, exclusions and fees apply to the Chargeback Protection tool. Chargeback Protection is available for accounts enrolled in Advanced Credit and Debit Card Payments. See terms.
8 Available on eligible transactions only. Limits, terms and eligibility criteria apply.
