PayPal continues to command the domain of mobile payment platforms. According to a study conducted by ComScore, PayPal Checkout touts almost 89 percent conversion rates — 82 percent higher than options that don’t offer the platform. PayPal Checkout converted purchases 60 percent higher than alternative digital wallets, which secured over 55 percent conversions.
As shoppers continue to shift their product research and purchasing to mobile devices, the need for secure and seamless payments grows substantially. According to a PayPal spokesman, the data in the study was secured by comScore’s behaviorally tracked PC panel, which measured U.S. online purchases at 20 enterprise domains over the fourth quarter last year – its consumer panel includes one million online shoppers.
Convenience is key for consumers. According to the survey, “55 percent of customers said they made online purchases because of PayPal One Touch,” the platform’s service that enables consumers to skip pesky login pages when in the middle of buying an item.
Consumers are quickly embracing solutions like this. The spokesman said that 92 million consumers have selected to use its one-touch option. For comparison, Statista reports that Apple Pay is forecasted to reach 60 million users by 2020. Current information about Samsung Pay user rates was not readily available.
“Fifty-two percent of mobile customers made more online purchases and transactions because PayPal was offered as an option at checkout and 33 percent of mobile customers would not have completed the purchase if PayPal was not accepted,” the spokesman said. What’s more, 8.6 million merchants have become one-touch fluent.
To ensure frictionless omnichannel shopping experiences, retailers and brands are charged with offering payment options that are consistent across channels and devices. In addition to offering fluid payments to inform quick checkouts, enabling services that offer additional levels of security are key aspects to maintain consumer loyalty. Nothing turns off a shopper like breaching their private information.
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