Domain and web services provider GoDaddy is delving in to world of Ecommerce by offering an online and mobile payment service called “Get Paid”.
GoDaddy has partnered with payment providers PayPal, Stripe, Dwolla and ACH (Echecks) to offer Ewallet, credit card, and debit card support.
GoDaddy will first offer the payment service to its 9 million US registered users. The service will be offered in 3 tiers ranging from $4 per month up to $15, depending on added features such as exspense tracking and connecting and integrating bank accounts. GoDaddy will not charge any additional transaction fees besides the monthly cost. However, transaction fees will be charged by the participating payment providers accordingly.
Get Paid is not GoDaddy’s first foray into Ecommerce. The domain service provider already offers financial services such as billing and accounting solutions. Since the launch of these features GoDaddy has acquired Ecommerce solution providers in the forms of bookkeeping startup Outright and invoicing startup Ronin in 2012 and 2013 respectively.
The reason behind offering a comprehensive payment platform like Get Paid originates from complaints from GoDaddy customers interested in getting paid, fast and easy, from their GoDaddy sites.
Stocks to Watch This Week – Expedia Group, IncGo to article >>
“They were using a hodge podge of different methods to collect payments. Less than half of our users accept credit cards, some would invoice, some would take sales over the phones. Small businesses were losing track of who paid what and who owed money, rather than just getting paid then and there. When you are talking about businesses that may only be pulling in $40,000 per year, every dollar makes a difference,” said GoDaddy’s SVP of applications Steven Aldrich.
The support of world leading payment brands also adds credibility and reliability for both merchants and buyers. In addition, companies like PayPal, Stripe and Dwolla already have large user bases as well, offering more potential buyers.
“We work through build, buy or partner ideas, and here we decided partnering was the right way to go,” Aldrich added.