PayPal have launched a new PayPal Checkout with PayPal Smart Payment Buttons as part of their mission to simplify payments across the web and mobile. The aim is to reduce the number of clicks or taps needed to complete checkout on a retailers website.
PayPal Checkout is designed to reduce the number of clicks or taps along the path to purchase, and has been proven to drive the highest conversion rates across the industry – 82% higher than a checkout without PayPal.
With one simple integration, the new PayPal Checkout will enable a personalized checkout experience and dynamically present the most relevant payment methods at checkout — including PayPal, Venmo, PayPal Credit and soon, local alternative payment methods. The new PayPal Checkout gives our customers even more choice and flexibility in how they pay and get paid, and includes the following features.
Smart Payment Buttons are checkout buttons that dynamically present the most relevant payment methods for each customer in each geography. This allows you to offer all the best ways to pay without cluttering your checkout with payment methods that may not always be relevant.
PayPal Smart Payment Buttons
PayPal Smart Payment Buttons include:
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PayPal with One Touch checkout
One Touch is PayPal’s mobile and online checkout tool that enables consumers to check out across millions of businesses without having to enter any usernames, passwords, payment or shipping information, once they’ve opted-in. One Touch is the most rapidly adopted product in PayPal’s history, and today, more than 96 million consumers have opted in to One Touch and more than 9 million businesses (and 79% of the Internet Retailer 100) have enabled One Touch — without having to do any additional integration work. According to a recent comScore survey, 55 percent of customers said they made more online purchases because of One Touch**.
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Pay with Venmo
PayPal Checkout, along with Braintree Direct, is the only place where businesses in the U.S. can offer Venmo as a payment method and reach millions of highly engaged millennial customers. Businesses can get exposure for their brands when Venmo customers choose to share their purchases on their Venmo social feeds.
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PayPal Credit
PayPal Checkout, along with Braintree Direct, is the only place where businesses can offer PayPal Credit — which can drive more purchases. A recent comScore study found that up to 53 percent of shoppers would not have made all of their purchases if PayPal Credit was not available, and on average, 21 percent of shoppers spent more online than they would have without PayPal Credit.
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Local Alternative Payment Methods
Smart Payment Buttons also enable businesses to accept more payment types, including local wallets and funding sources, that are dynamically presented based on the shopper. Over the next few weeks, we will enable iDEAL for customers in the Netherlands, Bancontact for customers in Belgium, MyBank for customers in Italy, Giropay for customers in Germany and EPS for customers in Austria. In addition, we have long enabled SEPA Direct Debit for our customers in Germany. We expect to roll out many more local payment methods this year as we work toward enabling more choice for consumers and growth for businesses.
