More than four in five Americans (82%) used some form of digital payment in 2021, exceeding 2020’s rate of 78%.
Paypal currently has 361 million active users and accounts for 22% of online transactions in the US alone.
For many reasons, be it faster and/or cheaper shipping options, the convenience of staying home to shop, or the desire to avoid germ-spreading interactions, consumers are placing a higher value on the convenience of shopping remotely. Yet, these consumers are also aware of the potential risks involved with sending their sensitive information online.
Consumers are 54% more willing to buy when a business accepts PayPal, especially in unfamiliar situations.
Let’s take a look at the 7 benefits of online shopping using PayPal.
1. Easy to Use
With how often online payments are made in our current internet climate, it can get annoying to find a physical card (or maybe you don’t even have it!). It could be in another room, left at home, or recently misplaced.
The convenience of having many payment methods including credit/debits cards and bank accounts accessible anywhere you have internet access means you’re never left unable to make a purchase.
2. It’s Free
Convenience often comes at a pretty price, but not with using PayPal.
There are no fees for sign-up or membership. It’s completely free to send and receive transactions between friends and family, and there is no extra charge to the consumer when using it to make secure online payments.
3. Quick and Convenient Payments
With so many retailers integrating PayPal into their website design’s payment methods, it’s very quick to log into your account, redirect to choose which payment method you’d like, and then be directed back to the store to complete a purchase.
4. It’s Safe
Online shopping using Paypal doesn’t need re-entering your bank or card details once they’re in the first time.
The data gets encrypted, keeping your sensitive data solely with PayPal rather than entering it on multiple websites. They even include ‘fraud prevention in their services to protect consumers should they receive an item that wasn’t “as described” by the retailer.
5. Shop Worldwide
PayPal is one of the largest online processors of peer-to-peer transactions and payments in the world. It’s easily integrated on retail sites as a form of payment.
Thanks to the trust and security measures they take, more retailers both on and offline (yes, some brick-and-mortars too!) are including PayPal payments into their retail operations.
6. Link Multiple Payment Options
Unlike some peer-to-peer payment methods that only allow linking one bank account to an account, PayPal lets you link multiple.
This way, at your time of payment, you can choose which payment method is best for that particular transaction.
7. PayPal’s Purchase Protection
Through this program, buyers can be reimbursed when they report a fraudulent transaction. If an item never arrives or is significantly different from how the retailer described it, PayPal will arrange for a full refund.
Integrate Online Shopping Using PayPal
With so many users online shopping with PayPal today, it’s important for online retailers to consider adding it to their sites.
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