In July this year, PayPal rolled out PayPal Checkout with Smart Payment Buttons in the US. They are now beginning to roll out PayPal Checkout with Smart Payment Buttons globally. In addition, after launching PayPal Marketing Solutions in the US late last year, they beginning to roll it out to additional markets to help businesses better understand their customers and drive sales.
PayPal Checkout with Smart Payment Buttons is designed to give consumers more choice in how they can pay and is designed to help drive conversions for businesses by reducing the number of clicks or taps along the path to purchase. It has been shown to drive the highest conversion rates across the industry. A recent comScore study found that PayPal Checkout converted at 88.7% during checkout – 82% higher than a checkout without PayPal.
PayPal Checkout with Smart Payment Buttons enables a personalized checkout experience and dynamically presents the most relevant payment methods at checkout. This includes PayPal, Venmo, PayPal Credit and now, we’re starting to roll out local alternative payment methods including 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. Businesses selling across borders to customers in the above markets will be able to dynamically present relevant local wallets based on the customer’s location. We expect to roll out additional local payment methods in the near future.
Businesses that have integrated with PayPal Checkout can also enable PayPal Marketing Solutions, to better understand their customers and help drive sales. Smart Incentives, a feature of PayPal Marketing Solutions, enables businesses to engage with PayPal’s 250 million global active customer accounts at the beginning of their shopping journey.
Until now, only the very largest ecommerce companies had access to tools like this, but as part of PayPal’s mission to democratize access to powerful commerce tools, they are now enabling this for businesses of all sizes around the world.
