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BizReport : Ecommerce : June 10, 2012
ShopVisible: PayPal favored by mobile shoppers, not online
Just because your website customers aren't using alternative payment methods, such as PayPal, doesn't mean your mobile customers won't want the option. According to ShopVisible, mobile is a different animal and alternative payment methods are what over-two thirds of mobile shoppers are choosing to use.
Alternative payment options play an important role in facilitating mobile transactions, according to ShopVisible's review of over 23,000 online and mobile transactions over 2 months.
Just 33% of the mobile transactions reviewed were made with a credit card, while 67% were made with PayPal or another alternative payment method.
However, data for website shoppers paints a very different picture. Consumers making payments online were far less likely to use PayPal (16%) and instead chose to pay with a credit card (62%).
According to Sean Cook, CEO of ShopVisible, "mobile is a different animal". Businesses that don't currently see a lot of alternative payment use on their websites should not assume the same behavior of their mobile customers.
"Lacking a simple alternative payment method could crush any retailer implementing a mobile commerce strategy. Even if alternative payment methods don't constitute a large percentage of your existing web business, you should reconsider the relative importance when it comes to your mobile strategy," said Cook.
PayPal has recently ramped up its offline presence to attract mobile shoppers in-store. As well as rolling out their payment solution to all 2,000 of The Home Depot's stores, another 15 brick-and-mortar retailers have agreed to use PayPal's offline payment solution.
Tags: m-commerce trends, mobile commerce, mobile payment, mobile transactions, online payment, online shopping, payment solution, PayPal
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