PayPal May Increase Consumers’ Willingness To Buy From New Businesses

PayPal May Increase Consumers’ Willingness To Buy From New Businesses

October 17, 2018         Written By Lynn Oldshue

Consumers may be more willing to buy from new businesses if PayPal is an accepted payment option, according to a new study from Ipsos.

In a simulated scenario, 52% of PayPal users were willing to buy from an unfamiliar business with PayPal as a payment option, compared to 24% when PayPal was not an option. Consumers were also more willing to make cross-border purchases (62% vs. 35%) and purchases valued $200 or more (61% vs. 34%).

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These numbers drop slightly when surveying non-PayPal users. Among non-users, 37% were willing to shop with an unfamiliar business with PayPal present, compared to 25%.

Ipsos also surveyed consumers on their checkout experience. Nearly half (47%) of consumers said they would return to a store if they liked the payment process, and 44% were more willing to trust merchants with a good payment process. In addition, 30% of consumers said they only shop on websites that accept their preferred payment method, and 44% said they would like to know if their preferred method was accepted upfront.

In terms of what consumers are looking for in a payment processor, security was the top priority (83%). That was followed closely by purchase protection (71%), smooth purchasing process (69%) and simplicity (65%).

The survey assessed 10,500 people across seven markets. Of those participants, 6,930 were PayPal users.

The information contained within this article was accurate as of October 17, 2018. For up-to-date information on any of the terms, cards or offers mentioned above, visit the issuer's website. Many of the offers on this article are from our affiliate partners, and LowCards.com may be compensated if you take action with any of our affiliate partners.

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lynn-oldshue

About Lynn Oldshue

Lynn Oldshue has written personal finance stories for LowCards.com for twelve years. She majored in public relations at Mississippi State University.