Photo by Copyright Free Pictures, Public DomainPayPal has taken significant steps toward the personalization of its online shopping experience by introducing a new feature for online businesses through its Checkout functionality. PayPal Checkout now features Smart Payment Buttons, designed to simplify the cross-platform checkout process on a desktop and mobile devices. The news will be music to the ears of online retailers operating e-commerce platforms, with PayPal Checkout signaling a reduction in the number of taps a consumer needs to make to complete a purchase.PayPal Checkout is said to generate the most impressive conversion rates within e-commerce, resulting in 82 percent more conversions than non-PayPal Checkout e-commerce platforms, according to a recent study by comScore. The implementation of these new Smart Payment Buttons will increase the personalization of checkouts tenfold. The functionality will dynamically display the most suitable payment methods for individual shoppers at checkout with options such as Venmo (for U.S.-based customers) and PayPal Credit as well as other local alternative payment methods displayed to European customers. PayPal has long supported SEPA Direct Debit payments for its German customers while partnerships with the likes of iDEAL, BanConnect, MyBank and EPS are all set to be launched for PayPal customers in the Netherlands, Belgium, Italy and Austria, respectively. Ultimately, the move gives more power to businesses and consumers, providing more options to get paid and make payments.The simplicity and ease of PayPal payments are one of the main reasons why consumers choose the platform to complete purchases online. Deposits and withdrawals via PayPal are one of the most convenient money transactions for customers in the iGaming industry; for example, with players able to transfer funds from their e-wallet instantly to start playing their favorite table games and slot machines, and even place wagers on their favorite sports teams. It’s particularly critical for those placing sports wagers looking to get the best available price online before the odds change. It’s also becoming increasingly vital for shoppers to complete transactions fast, with time-poor families and professionals keen on optimizing their shopping time in online checkout. Smart Payment Buttons are a big deal for PayPal, especially after announcing earlier this year that eBay is ending its association with PayPal, seeking a new payments provider in the process. Photo by Mohamed_Hassan, Public DomainA Deeper Look at PayPal Checkout’s Four New Smart Payment Buttons
  • PayPal One Touch CheckoutOne Touch is PayPal’s number one online checkout feature, giving consumers the freedom to make payments to millions of businesses worldwide without the need to enter usernames, passwords and even card or shipping information with every purchase. Almost 100 million shoppers have opted-in to use One Touch while a further 9 million businesses have enabled it to improve the efficiency of their operations. It’s hoped that consumers will be likely to make more online purchases due to the simplicity of One Touch.
  • PayPal with VenmoPayPal now offers direct integration with Venmo as a payment method, which is music to the ears of millennials in all four corners of the United States. It’s a highly strategic move that could benefit businesses as much as the consumers. Venmo customers have can share their purchases online to their social connections, acting as a digital form of word of mouth for online brands.
  • PayPal CreditPayPal Checkout now gives its customers the ability to pay for goods and services using PayPal Credit. It’s a credit card service, without the need for the plastic. In the U.K., individuals can receive four months interest-free on all purchases over ?150. Consumers can apply and complete the short application form for PayPal Credit during the checkout process, with a credit limit attached to a PayPal account immediately if approved.
  • Alternative Local Payment MethodsThe fourth and final Smart Payment Button now available in PayPal Checkout is the ability to integrate local wallets and funding sources for shoppers that are presented dynamically to each shopper at checkout. Aside from the local payments we’ve already discussed in mainland Europe, PayPal Checkout is planning to roll out a string of additional local payments methods, providing more choice and flexibility to consumers worldwide.
PayPal has already published its developer documentation for PayPal Checkout and the Smart Payment Buttons, giving developers a step-by-step guide to integrating the dynamic functionality using JavaScript code. Such code will ensure that websites and brands stay up-to-date with the newest and most successful payment button styles and features. If you’re a developer or business seeking to refine your checkout process with PayPal, discover more about its integration options here.
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