Grow your enterprise business with a multichannel customer experience

Oct 12 2021 | PayPal editorial staff

As we enter a new normal, 64% of Hong Kong eCommerce businesses are concerned about the future of their business. That’s not surprising given that, during 2020, 77% of Hong Kong’s eCommerce businesses suffered a negative impact on revenue, while 52% lost over 20% of their business.i
As online shopping continues to grow, enterprise businesses can claim back lost revenue and stay ahead of competitors with an increased focus on multichannel experiences.

Hong Kong eCommerce is predicted to continue growing by 7.8% a year to 2023
 

Recapturing growth

To increase competitiveness and take advantage of the eCommerce growth, enterprises should focus on improving their end-to-end online shopping experience. As shopping behaviour moves to multiple platforms, like mobile, social commerce and marketplaces, enterprises can increase demand by meeting customers where they shop. To do that, they will need a multichannel commerce plan.

Projected US$3.5 billion eCommerce market by 2023
 

So what is multichannel?

One of those buzzwords of the past few years, multichannel effectively means selling across multiple sites, services and devices. New technologies enable businesses to get in front of their current and prospective customers, wherever they are when they’re ready to buy.

However, as businesses look to sell beyond their own website, the loss of control of data across providers and solutions can create increased friction in the backend and further impact efficiencies.

 

Finding alternative ways to sell

In addition to being available on multiple platforms such as their own websites and social media platforms like Facebook, Instagram and Pinterest, new technologies offering new commerce opportunities are popping up frequently.

One that’s gradually gaining traction is live-stream eCommerce. Customers can view and buy from live online video streams, often hosted by celebrities or influencers.

Other innovative solutions include Landmark shopping mall’s eChat shopping service, which allows customers to text with store staff and place orders through WhatsApp.

And, of course, when in-store, customers need a seamless payment solution that lets them pay the way they want to. With PayPal QR codes, customers can securely check out on their mobile and transactions are recorded alongside online payments via one PayPal account.

 

Improving customer experiences across platforms

Hong Kong consumers are looking for three things when buying online: value for money, product quality and ease of shopping experience. According to a recent KPMG study, positive shopping experiences bring customers back for more, increasing their lifetime value (LTV).

With an optimised checkout process, businesses can also increase conversion rates and improve loyalty and repeat purchases. Here’s how:
  • Collect as little information as possible through keyboard-optimised fields to let customers finalise their purchase quickly.
  • Offer customers’ preferred payment methods, whether that’s credit card, PayPal, UnionPay or JCB.
  • Securely store card information so customers don’t need to key in their details every time.


 

Creating frictionless payment experiences, wherever customers buy

As businesses work to improve their enterprise payments, there are 5 steps towards frictionless payments: optimising checkouts and increasing conversions, improving customer lifetime value (LTV), ensuring security at every step, improving back-end systems, and scaling across markets.

Implementing a multichannel commerce solution with a single integration, like the PayPal Commerce Platform, can help businesses move towards frictionless payments. With one payments solution, each step can be managed and optimised centrally, improving efficiency and cost-effectiveness.

Frequently asked questions.

Magento has announced that it is ending support for all versions of its Magento 1 ecommerce platform, including all future quality fixes and security patches, as of June 30, 2020.

You must migrate to Magento 2 or another platform before June 30, 2020, if you are currently integrated with Magento 1.
 
Consequences of not migrating:
  • Increased risk of data breaches, with possible damage to your brand and reputation.
  • Exposure of becoming a security target without any upgrade or security patches.
  • Falling out of compliance with Payment Card Industry Data Security Standards (PCI DSS). These global standards are set by card entities and apply to all merchants that process payments.
Requirement 6 of the PCI DSS requires merchants to "develop and maintain secure systems and applications by installing applicable vendor-supplied security patches." Without future security patches, Magento 1 merchants will no longer be able to meet this requirement, which could result in costly and time-consuming remediation.

This is not a PayPal-specific requirement. PCI DSS requirements apply to your integrations with card payment brands, such as Visa, MasterCard, American Express, Discover, JCB, and any other payment processor on the Magento 1 platform. Visa has stressed that urgent action is required for merchants to migrate from Magento 1 and advised merchants to be aware of their responsibilities in securing their environment to help prevent the loss of payment card data. 

Please review the Magento Commerce Software End of Support FAQ here.
 
Migrate now to Magento 2 or another Partner.
 

What do I need to do?

If you are currently using Magento 1, you must do one of the following by June 30, 2020:
 

Migrate to the Magento 2 platform

Or migrate to another platform

  • See our Partners page for a list of system integrators and e-commerce solution providers.

FAQs

Q: Which versions of Magento 1 are impacted?

A: All versions of Magento 1 are impacted, including Magento Commerce 1 (formerly known as Enterprise Edition) and Magento Open Source 1 (formerly known as Community Edition).

Q: What happens if I continue using Magento 1 after June 30, 2020?

A: On July 1, 2020, your Magento 1.x platform will no longer be supported by Magento, which includes providing security patches critical to maintaining compliance with the Payment Card Industry Data Security Standards (PCI DSS). The global PCI DSS standards require each entity to “develop and maintain secure systems and applications by installing applicable vendor-supplied security patches.” Because Magento is no longer providing security patches, your integration may become more vulnerable to attacks, potentially resulting in impacts on your brand reputation, as well as potential financial impact. 

This is not a PayPal-specific requirement. PCI DSS requirements apply to your integrations with card payment brands, such as Visa, MasterCard, American Express, Discover, JCB, and any other payment processor on the Magento 1 platform. Visa has stressed that urgent action is required for merchants to migrate from Magento 1 and advised merchants to be aware of their responsibilities in securing their environment to help prevent the loss of payment card data.  
 
Magento Association, a separate entity from Magento, has published the following links providing merchants additional information and resources around the call to action for the upcoming June 30th deadline.   
  1. Magento 1 EOL Blog Post 
  2. Magento 1 Post-EOL resources 

Please review the Magento Commerce Software End of Support FAQ here.

Q: If I get the security patches, does that mean I’m compliant? 

A:  The security patches are one step towards ensuring meeting PCI compliance but do not necessarily equal PCI compliance. We strongly encourage migration from Magento 1 before July 1.

Steps you can take to ensure business continuity and no risk to your business or cardholders include migrating off Magento 1 or to ensure applying the security patches, and other actions such as passing PCI reviews with a Qualified Security Assessor (QSA).


Q: What is the cost of migrating to Magento 2?  

A: It depends on the size of your site and the complexity of the build.  We recommend reaching out to Magento. You may also contact System Integrators to discuss pricing options. 

 
Q: How long does it take to migrate to Magento 2 or a new platform?  

A: This is dependent on the requirements of your site, and the ecommerce platform you’re choosing to move to migration can take a matter of weeks, to several months.  We recommend kicking off your migration project as soon as possible.   
 

Q: What is the cost of the other platforms?  

A: It depends on the size of your site and the complexity of the functionality you want to develop.  You will need to contact the one that is the right fit for your business.  


Q: Does this only affect PayPal merchants?

A. No, all payment processing companies, including Visa, are following the same guidance and urgently advising their Magento 1 merchants to migrate to Magento 2 or another platform.

Q: How do I validate my PCI compliance?

A: The PCI Security Standards site provides a Self-Assessment Questionnaire (SAQ) that you can complete to validate your PCI compliance. One of the requirements of the SAQ form is to install vendor-supplied security patches within one month of release. Because Magento is no longer providing security patches after June 30, 2020, you will no longer be able to comply with Requirement 6, stating that you "develop and maintain secure systems and applications by installing applicable vendor-supplied security patches".

Q: Is there a chance the date will extend beyond June 30, especially given the COVID-19 situation?

A: No, Magento has already extended the deadline 18 months from November 2018 to enable merchants time to upgrade. Magento has confirmed that they will stop all support for Magento 1 as of June 30, 2020.

Q: If PayPal processes my card data, do I still need to comply?

A: Yes, even if you outsource part of your PCI DSS compliance to PayPal, you are still required to install security patches within one month of release, which will no longer be possible after June 30, 2020. In addition to these patches, merchants are responsible for meeting all requirements of their PCI DSS compliance.

Q: What resources are available to help me maintain PCI compliance?

A: PayPal has engaged with select System Integrator Partners to help you migrate to Magento 2.

Q: What are the alternate ecommerce solutions?

A: If you’re looking for alternate solutions, you can review our list of Ecommerce Solution Partners.

Q: Is PayPal providing migration support?

A: If you are based in the United States, you can apply for help to finance the move to Magento 2 Commerce Cloud through the Magento Migration Loan, a type of LoanBuilder Loan*, made available through PayPal.
* The lender for LoanBuilder Loan is WebBank, Member FDIC. This is an invitation to apply and not an offer or commitment to provide capital. Applicants must satisfy certain requirements to be eligible. WebBank is not affiliated with the offer to receive a full credit on the cost of financing and the credit is not part of your credit agreement with WebBank.

Q: What other resources are available?

A: You may find additional information from Magento at:

With PayPal, you can enjoy a safer and easier way to send and receive payments for goods, services and more.

Shopping globally with peace of mind
Simply link a card to your PayPal account and you can start making payments in over 20 currencies. Instead of entering your card information for every transaction, you can now pay with just a few clicks without compromising your security. You can also withdraw funds into your bank account anytime. We use industry-leading anti-fraud technology and a dedicated team of risk experts to help keep your transactions safer. Learn more about PayPal Buyer Protection.

Growing your sales from various channels
Select from our wide range of payment solutions to receive payments from buyers all over the world. Accept safer payments anytime, anywhere – through your own website, using PayPal QR Code in your storefront, or by simply emailing an invoice to your customers. Besides our expertise in payment security, our Seller Protection protects you from any losses arising from unauthorised payments and items not received on eligible transactions.

Find out more about how we protect you.

What’s a pre-chargeback alert?

A pre-chargeback alertis a type of case notification sent to merchants, to help identify transactionsthat have a possibility of receiving a chargeback. These aren’t actualchargebacks but only an indicator of possible chargebacks. 

How will I receive a pre-chargebackalert?

You’ll receive an alert as a new case in the Resolution Center. You’llbe notified about the case through all the usual notification channels.

You canview these alerts by using the “Case type” filter available in the ResolutionCenter. A pre-chargeback alert row get shown as “High Priority”. 

Can I respond to a pre-chargeback alert?

Yes, youcan respond to these alerts in the Resolution Center. You’ll get a 20-hourwindow to issue refunds for transactions without fulfilling orders and avoidingany fees, as applicable.  

If you’ve successfully fulfilled the order, within or outside the20-hour window, you’ll be able to also provide evidence in the alert. PayPalwill use this evidence to contest the chargeback when it arrives. 

Why should I respond within the 20-hour window?

As a benefit, if yourespond with a refund to your buyer within the 20-hour window, you can avoidgetting a chargeback and any associated chargeback fees.  

Will I be able torespond outside this window?

Yes, you can choose to respond outside the 20-hour window aswell.  You’ll get the regular 10 days torespond after that.  If you choose to dothat,  you may not be able to avoid receivinga chargeback or the fee associated with it.

PayPal invoices are easy to create. Just enter your customer’s email address. Then add an item with its quantity and amount. Add as many items as you like. You can include personalized notes, terms and conditions, discounts, or any attachments your customer might need.
When you’re finished, click Preview to see how your invoice will look for your customer.
 

How do I send invoices?

You can send PayPal invoices to any email address in the world. When your invoice is ready, just click or tap the Send button and PayPal’s platform will send an email notification with a secure link to the invoice directly to your customer. If they have a PayPal account, your customer will also receive notifications about the invoice when they log into their account.
 

How do I share invoice links?

You can also share links to invoices directly with your customers. On the desktop experience, click Share link to invoice under the Send action. You’ll get a link that lets your customer view and pay the invoice. You can copy the link and your invoice becomes payable. Then share it by email, text, or messaging app. Because invoices contain your customers’ personal information, don’t share the invoice link on a public site.
To share the link again, copy it from your list of invoices by clicking the three-dot icon for the invoice. Or get the link by opening up the invoice details.
 

How do I send invoices to multiple customers?

Send the same invoice to up to 100 customers by clicking Multiple customers and entering each email address in the Bill to field. We’ll send a separate, payable invoice to each customer.
 

How do I import a batch of invoices?

Create and send a batch of multiple invoices by importing a CSV file. Use our spreadsheet template to fill out the invoice details for each customer. For each invoice, include a customer email address, item name, and item amount. After you import the spreadsheet file, you can view a summary of the imported invoices before sending them. Once you send the file, we’ll email each customer a secure link to pay their invoice. For customer security, PayPal limits the number of invoices you can send in a single day.
Learn more about batch invoices.

Can I manage PayPal Invoicing from my mobile?

You can create, send, and manage invoices on both from desktop computers and mobile phones. You can also send and manage invoices on the go with the PayPal Business mobile app. Get the mobile aft from the Apple Store or Google Play. Learn more.
 

What are quick invoices?

Quick invoices let you send easy, professional payment requests on your mobile phone. They streamline invoice creation so you can quickly share a link to an invoice with your customer. Your customer will still get a professional invoice including your default business information.

On a mobile phone web browser:

1. Log into PayPal and go to your invoices.
2. Tap on the button icon in the lower right.
3. Choose Send a quick invoice, enter an amount, and payment description.
4. Tap Create and Share Link.
5. When your invoice link is ready, tap Share Link, and then share it by email, text, or messaging app.
 
On the PayPal Business mobile app:

1. Tap on the lightning bolt-shaped Quick Actions icon in the lower right.
2. Choose Send a Quick Invoice and follow prompts.
3. Tap Create and Share Link, then share it by email, text, or messaging app.
4. Tap Done.
 

How do invoices for shippable items work?

If you’re shipping an item or need your customer to give a shipping address, check the Ship Order box when you’re creating your invoice. You can then add any shipping costs. When your customer pays, you’ll be able to add tracking information when you ship their order.
 

How do I schedule recurring invoices?

You can set invoices to repeat weekly, monthly, yearly, or at a custom interval. When you start a recurring series of invoices, the customer will immediately receive the first invoice. (You also can schedule the recurring series to start at a future date.) The following invoices in the series will issue around 7:00 AM in your time zone according to frequency that you set.
 

Can I cancel a recurring invoice series?

 You can cancel a single invoice within a recurring series or the entire series of invoices. To cancel an invoice, tap the three-dot icon for the invoice within your list of invoices. You can also cancel the invoice from its details page. When you cancel an invoice within a recurring series, we’ll ask if you want to cancel the single invoice or the entire series.
 

How do I send invoices across national borders?

There’s no extra step to send invoices across national borders. You can send PayPal invoices to any email address in the world.
If your customer has a PayPal account, we’ll display the invoice and email notification in their preferred language. If your customer doesn’t have a PayPal account, we’ll send the invoice and notification email in the language of your account. You can also specify a different language by editing your customer’s contact info when you create the invoice.
Fees vary by country or region. See seller fees.

The contents of this site are provided for informational purposes only. The information in this article does not constitute legal, financial, IT, business or investment advice of any kind and is not a substitute for any professional advice. You should always obtain independent, professional accounting, financial, IT and legal advice before making any business decision.