PayPal is better at converting online shoppers than other payment solutions according to new data from comScore.
The PayPal Online Conversion Analysis shows that PayPal converts online shoppers at a rate of 87.5 percent. Comparatively, Visa Checkout converts online shoppers at a rate of 51.2 percent with all other payment types converting shoppers at a rate of 45.6 percent. This means that PayPal outperforms the nearest competition by 36.4 percent.
"This comScore study shows that shoppers are completing their purchases with PayPal, at almost twice the rate of legacy systems," said Bill Ready, senior vice president of product and engineering, PayPal. "As more commerce moves to mobile, having an easy way to checkout moves from a nice-to-have to a must-have. Last quarter, our customers made more than 15 million transactions a day on the PayPal platform, with 28 percent of them from mobile devices."
In addition to the results of comScore's study, PayPal announced that its One Touch solution has been used by 21 million consumers. One Touch with PayPal launched about 10 months ago as a way to simplify the checkout process. Once a customer opts in, One Touch authenticates the customer in the background of their chosen device. An additional 59 markets were added to One Touch last month to make it available in all 203 markets in which PayPal operates. What's more, the solution is automatically available to merchants that have PayPal Express Checkout on their site.
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