SPONSOR CONTENT BY
Investing now can save big in the long run —
and it doesn’t have to be as disruptive as you might think.
Updating your digital checkout process isn’t a cost you can afford to ignore
Today’s large businesses know they need to remain competitive and optimize the checkout process to help drive customer satisfaction. Still, they might struggle with what’s driving customer experience pitfalls coming from their backend infrastructure — the critical functions responsible for payment authorizations, fraud detection, data security, and more.
PayPal, in collaboration with Insider and Dynata, surveyed business decision-makers to understand merchants’ attitudes toward investing in checkout optimization, the current challenges they face, and what the path forward looks like.
Merchants see a modern checkout
process as critical yet cumbersome
Today’s leading businesses¹ know that online checkout is a crucial touchpoint to ensure an excellent customer experience. They also acknowledge there is work to be done to achieve this.
48%
strongly agree on the importance of improving all aspects of the consumer journey, but only 30% described themselves as “extremely satisfied” with their overall checkout process.¹
indicate an opportunity to streamline on checkout.¹
40%+
agree that higher authorization rates can lead to more completed transactions and higher revenues.¹
33%
What’s holding the checkout experience back?
Businesses that put off making improvements to streamline their online checkout may risk missing out on the long-term benefits. Let’s take a closer look at what it really means to upgrade your online checkout experience.
Modernizing complicated, outdated experiences
Consolidating the management of refunds and payouts, processors, and the tech stack
Justifying the cost of new technology and integration
Modernizing complicated, outdated experiences
More than half of respondents agree
that their biggest customer experience challenges stem from too many steps to complete checkout and modernizing the checkout experience.¹
The survey shows that the highest priorities within enterprises’ commerce goals are tied back to the customer. But with more than 40% of respondents saying they feel backend processing disrupts the customer experience, enterprises understand they’re
not delivering on their top priority.¹
Consolidating the management of refunds and payouts, processors, and the tech stack
One-third of merchants see the cost of integrating new technology as being
too high. Nevertheless, merchants cited
a need for seamless integration and an
all-in-one platform as considerations
for changing backend processors.¹
Justifying the cost of new technology and integration
An integrated checkout investment today
can add up to serious long-term gains
Updating your checkout with a payments partner flexible enough to work with your unique environment and with your existing technology may help position you to address customer shopping preferences.
It can also be less disruptive and more cost-effective than you think. Businesses report savings and potential for increased earnings that greatly outweigh their initial investment.²
Added market opportunity with increased PayPal integration amounting to $1.5 million²
$1.5m
The information above is based on a hypothetical merchant experience and is not a predictor of future results, per Forrester report, commissioned by PayPal, December 2021. You should always obtain independent professional advice before making any business decisions.
Resource cost savings of $131,000 with streamlined payment management and integration²
The information above is based on a hypothetical merchant experience and is not a predictor of future results, per Forrester report, commissioned by PayPal, December 2021. You should always obtain independent professional advice before making any business decisions.
$131k
By adding on capabilities like PayPal wallet transactions, merchants
across five markets saw the following increases in authorization rates:
7.9% in the US; 7.3% in the UK; 5.8% in France; 4.9% in Australia; 2.8% in Spain³
7.9%
7.3%
5.8%
4.9%
2.8%
USA
UK
FR
AUS
ESP
10%
8%
6%
4%
2%
0%
Based on recent survey data, a modernized checkout experience may help
Create market opportunity with new integrations
Save with simplified payment management
Increase conversions through higher authorization rates
Create market opportunity with new integrations
Save with simplified payment management
Increase conversions through higher authorization rates
How Freightos uses PayPal to support its explosive growth
One of the largest online marketplaces for international shipping, Freightos experienced explosive growth as its platform grew 5x from 2020 to 2021, increasing the need for the right payments partner to support customer demand, streamline operations, and scale efficiently. By working with PayPal to build an international payout solution that provides a seamless experience to payees, Freightos has reshaped and digitized a complex, manual, and often fragmented piece of the shipping industry.
Discover more of Freightos’ story.
If you open a new business, you’d like to focus your whole effort on your business. PayPal will give you payments as a package, and
as a partner, they will help you.
Moving funds between all of these parties is complex, very complex. PayPal knows how to do it.
We found a partner that allows
us to monetize payments.
– Yaniv Kalo, senior director for
payments and strategy, Freightos.
Find Out More
Find out more about how PayPal can help improve your checkout experience.
The content of this article is provided for informational purposes only. You should always obtain independent business, tax, financial, and legal advice before making any business decision.
Sources:
1. Survey of 526 business decision-makers, 25 years and older, conducted by Dynata, 3/8/22 - 3/21/22. Companies were $20MM+ in revenue and in the US, Australia, Canada, France, Germany, and UK. Leading defined by survey respondents having 500+ employees and 20+MM in annual company revenue ($/€/£)
2. Forrester report, commissioned by PayPal, December 2021. Forrester constructed a Total Economic Impact™ framework for those organizations considering an investment in the PayPal’s enterprise payment platform, powered by Braintree. For the purpose of this study, Forrester aggregated data from four enterprise merchants to create a single composite merchant with $500 million in revenue processed yearly. Individual results will vary.
3. Source: Major global payment network and PayPal internal data from transactions during 12-month period from Q4 2020-Q3 2021. Does not include transactions from domestic schemes (e.g. Cartes Bancaires)
Uplift represents difference in percentage points (p.p.) in performance between typical checkout and PayPal checkout.
4. PayPal Freightos Case Study 2022. Data source from PayPal, 2022. These results may not be typical and may vary substantially by business. This content is provided for informational purposes only. You should always obtain independent business, tax, financial, and legal advice before making any business decision.
Sponsor content is produced in collaboration with advertisers by Insider Studios, the branded content team at Insider Inc.
Insider's editorial staff is not involved in the creation of this content. Copyright © 2022 Insider Inc. All rights reserved.
Registration on or use of this site constitutes acceptance of our Terms of Service, Privacy Policy and Cookies Policy.
Contact Us | Sitemap | Disclaimer | Accessibility | Commerce Policy | CA Privacy Rights | Coupons | Made in NYC | Jobs
Created by
The content of this article is provided for informational purposes only. You should always obtain independent business, tax, financial, and legal advice before making any business decision.
Sources:
1. Survey of 526 business decision-makers, 25 years and older, conducted by Dynata, 3/8/22 - 3/21/22. Companies were $20MM+ in revenue and in the US, Australia, Canada, France, Germany, and UK. Leading defined by survey respondents having 500+ employees and 20+MM in annual company revenue ($/€/£)
2. Forrester report, commissioned by PayPal, December 2021. Forrester constructed a Total Economic Impact™ framework for those organizations considering an investment in the PayPal’s enterprise payment platform, powered by Braintree. For the purpose of this study, Forrester aggregated data from four enterprise merchants to create a single composite merchant with $500 million in revenue processed yearly. Individual results will vary.
3. Source: Major global payment network and PayPal internal data from transactions during 12-month period from Q4 2020-Q3 2021. Does not include transactions from domestic schemes (e.g. Cartes Bancaires)
Uplift represents difference in percentage points (p.p.) in performance between typical checkout and PayPal checkout.
4. PayPal Freightos Case Study 2022. Data source from PayPal, 2022. These results may not be typical and may vary substantially by business. This content is provided for informational purposes only. You should always obtain independent business, tax, financial, and legal advice before making any business decision.
If you open a new business, you’d like to focus your whole effort on your business. PayPal will give you payments as a package, and as a partner, they will help you.
Moving funds between all of these parties is complex, very complex. PayPal knows how to do it.
We found a partner that allows
us to monetize payments.
Find Out More