China, Shanghai, September 19, 2018 - Today, PayPal announced that it will launch PayPal Checkout with Smart Payment Buttons (that is, the PayPal Checkout checkout experience with smart payment button functionality) to make it easier for consumers. A secure, integrated payment solution that helps merchants increase their conversion rate.
PayPal is committed to building global business solutions that help countless global consumers and merchants achieve free payments in a variety of environments. To achieve this mission, we recently launched the PayPal Checkout with Smart Payment ButtonsTM service in the US for consumption. More payment options are available to help merchants increase transaction conversion rates. Today, we officially announced that we will launch PayPal Checkout with Smart Payment Buttons worldwide. In addition, we launched PayPal marketing solutions in the US later last year ( PayPal Marketing Solutions) will gradually launch this service in other markets to help local merchants better understand customers and improve sales.
PayPal Checkout reduces the number of mouse or finger clicks in the payment process and has proven to deliver the industry's highest transaction conversion rate. According to a recent study by US media measurement and analysis firm comScore, PayPal Checkout is used at checkout. * The transaction conversion rate was 88.7%, which was 82% higher than the unused PayPal.
Based on one-stop integration, the PayPal Checkout with Smart Payment Buttons service brings a personalized checkout experience and dynamically displays the most relevant payment methods at checkout for consumers in different regions. In addition to the existing PayPal, Payment methods such as Venmo** and PayPal Credit***, we are now adding a lot of payment options to the various payment options, such as providing iDEAL payment options for Dutch users and Bancontact payment for Belgian users. Options, offer MyBank payment options for Italian users, Giropay payment options for German customers, and EPS payment options for Austrian customers. In addition, we have supported SEPA Direct Debit in Germany for a long time. Merchants cross-border in the above countries At the time of sale, relevant local payment options can be flexibly provided based on the location of the consumer. We plan to introduce more local payment methods in the near future.
PayPal Checkout has many features that can effectively increase conversion rate. One TouchTM one-click payment function is one of them. Consumers who choose this feature can enter millions of merchants without entering a username, password or payment information. One Touch Acquisition is another function of PayPal Checkout. Consumers can create accounts without setting up all personal information, set up payment, and help improve registration rate, conversion rate and repeat transaction rate.
Merchants who choose to access PayPal Checkout can also choose to access PayPal Marketing Solutions to better understand their customers and increase sales. PayPal Marketing Solutions has intelligent promotion capabilities. Let merchants communicate with 250 million PayPal global active accounts at the beginning of consumption. Merchants who join the smart reward service will let consumers be informed from the moment they enter the website: We can use One TouchTM one-click payment function (such as Yes), consumers can checkout without logging in; consumers can pay with PayPal Credit***; consumers can enjoy our return shipping payment service and freight return rewards; consumers can also secure transactions through buyer guarantee services. Shopper Insights is another feature of PayPal Marketing Solutions that enables observational research on PayPal users who visit merchant websites and provides aggregated and anonymous consumer analytics for merchants. Help merchants identify potential business opportunities. PayPal marketing solutions are now open to the US market and will More global market promotion.
Global merchants such as Beyond Proper By Boston Proper, Guess Inc. and Zumiez have started using the new PayPal Checkout payment button to offer customers more choices and increase conversion rates. Magento and WooCommerce have opened new products for customers. Checkout experience.
At the same time, PayPal Checkout also provides special services such as buyer protection, seller protection, etc. for eligible transactions, enabling payment in different environments such as social platforms and cross-border platforms, and consumers can directly Complete the transaction on the merchant's website.
In the past, only large e-commerce companies were able to use such integrated payment tools. But today, based on the corporate mission of enabling more people to enjoy powerful business tools, PayPal brings this service to all merchants around the world. We have been working hard Create a dynamic and thriving retail ecosystem by creating tools that enable merchants of all sizes to deliver a better payment experience for their customers, helping them to compete more effectively.
*Source: comScore Online Payment Type: Conversion Rate Analysis, 4th Quarter 2017 (comScore Online Payment Type: Conversion Analysis, Q4 2017). comScore analyzes 1 million US consumers shopping on 20 large-scale shopping sites Behavior. 'PayPal Checkout' includes PayPal Express Checkout, PayPal One Touch and PayPal Mark. The checkout conversion rate is the ratio of consumers who selected a payment type in the same browsing session until the transaction was completed.
** Venmo is currently only available in the US.
*** PayPal Credit requires credit approval. Currently only available in the US and UK.
****Applicable conditions. Click here and here to view the applicable terms.
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