How PayPal Drives Conversions for Ecommerce Store Owners

PayPal is a convenient way for shoppers to manage their money online. PayPal is a convenient and quick payment option for potential customers if your online store has one. You may not feel you have enough sales to justify the transaction fees associated with a business PayPal account.

Conversion rates are crucial to your ecommerce success if you sell anything online. This metric is a key metric for many online sellers and retailers. There are thousands of articles online that can help merchants optimize it. PayPal has been shown to increase conversion rates for ecommerce shops. Take a look at the following results from this Nielsen study.

PayPal converts 28% more at checkout than the point of purchase

PayPal integration results in higher average order value

Customers are 13% more likely than others to shop from the same merchant when they check out using PayPal

PayPal results in an average 8 point increase in NPS

These are the results. Continue reading to learn how PayPal can increase conversion rates for online shop owners.

1. PayPal simplifies checkout for customers

According to Baymard Institute's estimates, the average cart abandonment rates is 69.8%. This means that nearly 3 out 4 online shoppers will abandon their cart before completing a purchase. Although there are many reasons why shoppers might get cold feet online, the bottom line is this: the more you allow shoppers to change their minds, the more likely they will abandon their cart.

PayPal automates the billing and shipping information to speed up checkout. This eliminates the need for keystrokes and clicks that are crucial in the checkout process. This data is only required once a PayPal user creates a profile. They will never have to enter it again no matter which online store they shop at. This valuable time can make it easy to buy online.

2. PayPal allows customers to make flexible payments.

Since its inception, PayPal has seen an exponential growth. PayPal began as a service provider of digital wallet services. However, PayPal now provides a variety of payment options for store owners (depending on the location of the business). Customers who have a wide range of payment options are more likely to convert. In fact, 56% consumers want to offer a variety on the checkout page. PayPal integration allows customers to choose from a variety of payment options.

The existing PayPal balance: Customers with an existing PayPal account can use part or all of their PayPal balance to pay for purchases.

They have a connected bank account. Customers can transfer money to your store by connecting their bank account to PayPal.

Accept any major debit or credit card: PayPal allows you to accept debit/credit cards from Visa, Mastercard and Discover.

PayPal credit: Customers approved for a PayPal digital credit line can pay their business using this payment method.

PayPal Pay In 4: Customers have the option to pay in four interest-free installments (while getting paid by PayPal upfront). To give them the confidence they can afford to buy.

Venmo - Customers who use Venmo in the U.S. can now make online purchases using their Venmo accounts.

3. PayPal gives customers a feeling of trust and credibility.

PayPal is fast, simple, and accessible. It also provides shoppers with confidence by offering a trusted, reliable payment method. PayPal has been around since 1998. Most online shoppers who have bought from or sold through the popular reselling site eBay use PayPal as their primary payment provider since 2003. These shoppers know that PayPal is known for its great customer service and strong customer support.

This means that shoppers can be confident that PayPal will protect their payment information. PayPal makes it easy to ensure that shoppers are safe and secure when shopping online. This is a great way for online businesses to avoid purchasing anxiety.

In conclusion

Your business can increase conversions by allowing PayPal to be a payment option during the checkout process. Including PayPal to your checkout process can help increase conversion rates and ultimately sales. Learn more about PayPal's special offerings and disclaimers for your business .

Are you interested in adding PayPal's payment options to your Volusion shop? This page contains more information about PayPal and how Volusion VolLT merchants can connect their PayPal account to their Volusion store.