Dive Brief:
- GoDaddy, the web hosting company, has introduced a payments function that lets its business owner clients register a domain and begin accepting payments from shoppers, the company announced on Thursday.
- With the domain, business owners can share their links with shoppers via text messages, social media posts, QR codes and other channels. GoDaddy will charge business owners 2.3% + $0.30 per online transaction, according to the announcement.
- After receiving their first payments through the domain, entrepreneurs can connect their bank account to their GoDaddy payments account, complete a verification process and receive payouts. They can also customize their payable domain with their company logo, product images, product and service details, plus other branded content, per the press release.
Dive Insight:
GoDaddy released this tool partly because it says it understands the importance of domain names for small business owners and companies.
“Not much has been done to enhance the capability of domain names,” GoDaddy president of domains Paul Nicks said in a statement. “Domains have largely been used as a digital identity for businesses, but with this new commerce capability we view the domain name taking on a far more versatile role for up-and-coming small businesses.”
Current GoDaddy customers can access their respective payable domains through their back-end dashboard, the company said.
Last week, GoDaddy reported fourth-quarter revenue rose 7.2% to $4.1 billion over the same period in 2021, and net income jumped 45.3% to $352.9 million. In its earnings release, the company highlighted a partnership with payments processor FIS Worldpay to support its OmniCommerce, or multi-channel, services for U.S.-based small businesses and bank partners.
“This arrangement is expected to drive growth in the second half of the year and will contribute to our commerce strategy,” GoDaddy CFO Mark McCaffrey said during the company’s fourth-quarter earnings call with analysts.
