Within the last few years, online purchase behavior has changed significantly online. Having a trusted site continues to be a key issue involved in any transaction and so consumers tended to buy from only sites they could trust. That trust was indicated through third party certificates, online reviews, or even a local retail presence. As commerce continues to move online, though. 40% of Internet users globally – over a billion users – have made a purchase online. One key to trust can be the payment gateway.
A trusted payment gateway like PayPal, where a consumer has recourse in a fraudulent transaction, can increase conversions on your e-commerce site. Since PayPal is international, it’s also expanding consumer trust to do business internationally.
In a recent survey, Forrester Research Inc. asked UK Online Shoppers about their experiences. The results show that offering PayPal as a checkout option builds trust, and is seen as fast and convenient. It even makes commerce easier!
This infographic from PayPal provides insight into the expansion of where consumers are shopping from, the sites they’re shopping on, and the factors impacting conversion rates online like speed, convenience and a trusted payment methodology.