Payments giant PayPal has been offering online merchants the ability to use its Express Checkout service, which is a one-stop payment option streamlines the checkout process for consumers. A buyer does not have to reenter shipping, billing, or payment information for a PayPal payment, expediting the checkout process. All they need to do is enter their PayPal account login. It’s similar in theory to Amazon’s one click ordering option. And PayPal recently incorporated this for mobile payments as well.
According to the report, eight in ten (83 percent) of PayPal merchants surveyed say Sales have increased since offering Express Checkout. Among online merchants who are able to track their revenue, sales have increased an average of 18 percent since adding the Express Checkout service. Eight in ten (84 percent) of those who noticed an increase in sales say it happened within the first 3 months after offering PayPal. Others say it took four to six months (8 percent) or longer (8 percent) before they noticed an increase in sales.
Since offering PayPal, merchants claim that 22 percent of their total revenue comes from PayPal’s Express Checkout. And 25 percent of revenue coming from new customers is channeled through PayPal’s Express Checkout.
A seamless payments experience, whether it be online or via a mobile device, is a contributing factor to an increase in sales. PayPal has been working to offer additional seamless payment options, including a Digital Goods product.