PayPal Announces comScore Study Shows 87.5% Online Checkout Conversion Rate

Paypal Holdings Inc (NASDAQ: PYPL) on Tuesday detailed the findings of a comScore study which showed the company is converting online buyers at a rate of 87.5 percent.

PayPal said its One Touch feature has become "one of the most rapidly adopted products" in its history within one year of its launch. One Touch authenticates users seamlessly in the background on their chosen device and more than 50 percent of the Internet Retailer 500 group and millions of other merchants have One Touch enabled.

PayPal's success in One Touch may have helped contribute to its large conversion rate. In fact, the next payment option, Visa Checkout scored a 51.1 percent conversion rate. "All Other" payment devices combined for a 45.6 percent conversion rate.

"This comScore study shows that shoppers are completing their purchases with PayPal, at almost twice the rate of legacy systems," said Bill Ready, senior vice president of product and engineering, PayPal. "As more commerce moves to mobile, having an easy way to checkout moves from a nice-to-have to a must-have. Last quarter, our customers made more than 15 million transactions a day on the PayPal platform, with 28% of them from mobile devices."