Mobile checkouts are becoming more popular, and PayPal is coming out on top when it comes to mobile wallet checkout options. PayPal showed a conversion rate of 87% on a recent study of online buyers’ behavior. The next-highest conversion rate scored 36% lower than PayPal’s average rate.
PayPal’s One Touch service added 59 new markets in the last month, making it now available to people in 203 markets total. It launched one year ago and has become one of the fastest adopted products in the company’s history. One Touch authenticates purchases in the background of their digital device and doesn’t require users to enter a password or login procedure. This makes checkouts fast, seamless, and secure.
Over 15 million checkouts per day using One Touch
A total of 21 million consumers have used the PayPal One Touch checkout to buy things online using their mobile device. During the last quarter, consumers made more than 15 million transactions a day using PayPal One Touch. Twenty-eight percent of these were via mobile device.
Merchants do not have to do any technology or software updates to run the PayPal One Touch system. It offers a secure checkout experience using a linked debit or credit card, or from a bank account.
The study looked at how PayPal stacked up against all other payment options on any given site’s payment page. When making an online purchase, folks can choose to use PayPal or enter their credit or debit card information directly. If they are shopping from a mobile device, using the PayPal option is quicker and requires the consumer to enter far fewer numbers.
Mobile shoppers love fast easy checkouts
One Touch literally allows people to make purchases with one touch; an attractive option for people who like to shop via smartphone or tablet. When shopping on a phone, it can be a big impediment to going through with the purchase when you have to get out your credit card and enter all your account information.
Other mobile checkout options such as Google Wallet and Apple Pay are also gaining popularity among online shoppers, but since PayPal is a more prevalent option, folks may be more familiar with it. You can link multiple payment cards to Google Wallet, Apple Pay, or PayPal, but if you are using the One Touch system from PayPal, you need to make sure your preferred payment card is listed as the default.