SAN JOSE, Calif.--(BUSINESS WIRE)--PayPal (NASDAQ:PYPL) announced that a comScore study, released today, shows PayPal converted online buyers at a rate of 87.5%*. PayPal had a higher overall conversion rate than all competitors with the next payment option scoring 36.4% lower than PayPal on average*.
“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% of them from mobile devices.”
One Touch with PayPal Continues Rapid Growth
Since One Touch with PayPal launched nearly a year ago, it has become one of the most rapidly adopted products in PayPal’s history. Unlike other checkout tools that can require a login and password, once a customer opts in, One Touch authenticates customers seamlessly in the background on their chosen device. Today, 21 million consumers have opted in to the checkout experience globally, and an additional 59 markets were added in the last month to make it available to consumers in all 203 markets in which PayPal operates. More than 50% of the Internet Retailer 500 and millions of merchants now have One Touch enabled.
With PayPal’s re-architected technology platform, One Touch is automatically available to merchants that have PayPal Express Checkout on their site. The updated platform recently helped PayPal turn on 100 new markets in a single day, while offering a better checkout experience without asking merchants to do any technology or software updates.
The data is derived from comScore’s behaviorally-tracked panel, which in this independent study measured panelists’ e-commerce purchases at 15 retail domains in the US from home goods, travel, deals, clothing and technology industries. Any panelists making an online purchase using PayPal or “All Other” forms of payment on these retailer sites were included in the study. This included “All Other” payment types, including credit cards as well as alternative payment methods that may have been available.
There were no up front offers presented in this study by PayPal on the retailers’ sites. The comScore study was performed as a checkout conversion study of how PayPal compared to all other payment options on a merchant’s checkout page. Additional information on the study can be found here.
* Data source comScore Panel, US, Q4 2015
At PayPal (Nasdaq: PYPL), we put people at the center of everything we do. Founded in 1998, we continue to be at the forefront of the digital payments revolution. In 2015, 28% of the 4.9 billion payments we processed were made on a mobile device. PayPal gives people better ways to connect to their money and to each other, helping them safely access and move their money and offering a choice of how they would like to pay or be paid. With our 179 million active customer accounts, we have created an open and secure payments ecosystem that people and businesses choose to securely transact with each other online, in stores and on mobile devices. PayPal is a truly global payments platform that is available to people in more than 200 markets, allowing customers to get paid in more than 100 currencies, withdraw funds to their bank accounts in 57 currencies and hold balances in their PayPal accounts in 26 currencies. For more information on PayPal, visit https://about.paypal-corp.com. For PYPL financial information, visit https://investor.paypal-corp.com.