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PayPal director claims payment solution can improve conversion rates
01/02/2011
Small businesses could find that introducing PayPal to their site helps them improve conversion rates, one of the company's directors has claimed.
Introducing PayPal to a website for a small or medium-sized business (SMB) could be one way to improve conversion rates, one of the company's directors has noted.
Speaking to Portfolio.com, Eddie Davis, senior director of small business merchant services at PayPal, commented that offering the payment solution to consumers can be a good way to improve conversion rates.
He explained that, with 80 million online users of PayPal, there is a large pool of consumers who will find it easier to use the website.
"In the SMB space, what we've seen is an average lift of 14 per cent higher sales when merchants have added PayPal and a 23 per cent higher conversion rate than with average credit cards," Mr Davis stated.
He went on to add that developing and implementing mobile payment solutions will be an area of focus for many organisations over the coming 12 months.
Econsultancy published its Customer Engagement Report in January, which found that 73 per cent of companies intend to invest in mobile channels during 2011, with 46 per cent stating that developing their mobile commerce offering is a priority.
Posted by Mahesh Patel
Speaking to Portfolio.com, Eddie Davis, senior director of small business merchant services at PayPal, commented that offering the payment solution to consumers can be a good way to improve conversion rates.
He explained that, with 80 million online users of PayPal, there is a large pool of consumers who will find it easier to use the website.
"In the SMB space, what we've seen is an average lift of 14 per cent higher sales when merchants have added PayPal and a 23 per cent higher conversion rate than with average credit cards," Mr Davis stated.
He went on to add that developing and implementing mobile payment solutions will be an area of focus for many organisations over the coming 12 months.
Econsultancy published its Customer Engagement Report in January, which found that 73 per cent of companies intend to invest in mobile channels during 2011, with 46 per cent stating that developing their mobile commerce offering is a priority.
Posted by Mahesh Patel