Do You Use Paypal to Checkout?

PayPal Transactions have 70% Higher Checkout Conversion than Non-PayPal Transactions

Source
PayPal

Topic
eCommerce Strategy

Year
2019

A new study has found that PayPal checkout converts at 88.7 percent – 82 percent higher than a checkout without PayPal, including other digital wallets and cards.

The comScore study compared online conversion rates for PayPal and other payment methods based on the checkout options available for 20 merchants across industries.

“Conversion is measured starting when a user clicks on a payment type to when they complete the transaction/purchase within the same browsing session,” the study explained.

The data showed that other digital wallets measured in the study had a combined checkout conversion average of 55.3 percent. And when comScore incorporated all payment types, they had a combined rate of 48.7 percent.

Other digital wallet payment types used in the study included express checkout methods, such as Visa Checkout, Masterpass, Amex Express Checkout, Chase Pay and Apple Pay. The study also included other payment types, including Visa, Mastercard, American Express, Discover, cash/check, private label store cards and any other available methods.

PayPal also released the findings of a new mobile-focused survey of consumers, which included that 52 percent of mobile customers made more online purchases/transactions because PayPal was offered as a checkout option.

“PayPal is unique in that it’s the only payments player that operates at scale, globally, on both the consumer and merchant side of the ecosystem, with the ability to deliver great end-to-end buying experiences,” the company said in a statement. “Because of this, we’re able to offer experiences that others cannot, and we can do so oftentimes without requiring merchants to do any additional integration work.”

For example, PayPal OneTouch enables consumers to check out across millions of merchants without having to enter any usernames, passwords, payment or shipping information. It is the fastest adopted product in PayPal’s history, with 92 million consumers using the service and 8.6 million merchants enabling it.

In fact, the study found that 55 percent of customers said they made more online purchases because of PayPal OneTouch.

“We are continually working to create and democratize the most seamless checkout experiences that enable consumers to quickly and securely get access to the things they want and need, and in turn drive sales for merchants,” added the company.

More 2019 Stats

People are Searching Google for the Phrase “Conversion Rate Optimization” More than Ever Before

60 percent of deals in the pipeline are lost to “no decision” rather than to competitors.

Average Online Shopping Cart Abandonment Rate is 74%

Today, 97% of consumers go online to research products and services.

Longer Mobile Page Load Times Drastically Increase Bounces

The Average Conversion Rate in AdWords Across all Industries is 2.7% on the Search Network and 0.89% on the Display Network

It’s Estimated that there will be 1.92 Billion Global Digital Buyers in 2019

65% of Consumers Look Up Price Comparisons on Mobile While in a Physical Store

Businesses with over 40 Landing Pages Generated a Whopping 12 Times More Leads than those with 1-5 Landing Pages

The Average Order Value of B2C Online Order is $52

More eCommerce Strategy Stats

More than Three-Quarters of Online Shoppers Would Like their Orders Shipped the Same Day

38% of People will Leave a Website if they find the Layout Unattractive

There Will Be More Than 3.7 Billion Email Users by the End of 2017

72% of Shoppers Return 10% or Less of Purchases

80% of Consumers Had a Better Perception of Retailers That Offered Mobile Coupons

Average E-Commerce Conversion Rates Vary from 2.8% to 4.5%

43% of E-Commerce Traffic comes from Organic Google Search

80% of Respondents Said They Had Stopped Doing Business with a Company Because of a Poor Customer Experience

E-Commerce Sales Accounted for 11.9% of All Retail Sales Worldwide

Mobile Traffic Represents 53% of all Ecommerce Traffic

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