PayPal is today introducing a new feature for online businesses using PayPal Checkout. Smart Payment Buttons allow sellers to present shoppers with relevant payment options right off the bat.
The company says PayPal Checkout already helps businesses convert 88.7% shoppers into buyers, which is 82% more than a checkout experience without PayPal, according to a comScore study. With the new smart payment buttons, online retailers get the ability to present all the different options powered by PayPal, including PayPal Credit and Venmo (exclusive to the United States).
What's more, the company is also partnering with local payment methods in countries around the world, more specifically in Europe, for the time being, and these local payment methods will also be displayed when they're relevant to customers, based on their location.
The company has already supported SEPA Direct debit for a while for German customers, but it's also working with GiroPay to provide additional options to customers in the country. Additionally, partnerships with iDEAL in the Netherlands, Banconnect in Belgium, MyBank in Italy and EPS in Austria are all being enabled over the next few weeks. Other countries and payment services are also planned to be enabled throughout the year.
PayPal points out that a few businesses are already using the new smart payment buttons, including Aldo, Barnes & Noble, and websites whose sales are powered by platforms such as Salesforce Commerce Cloud and Salucro.
In addition to the new buttons, PayPal is also announcing Shopper Insights, allowing online businesses to see how many shoppers become buyers and what devices they're using, as well as giving them recommendations on how to turn buyers into regular patrons. To help with that, PayPal is also introducing One Touch Customer Acquisition, making it easier for users to create shopping accounts on various websites by getting information such as the name and shipping address from their PayPal account.
PayPal remains the dominant force in online payments, continuously expanding its reach everywhere it can, from messaging apps such as Skype, to payment services such as Samsung Pay. The company seems to be committed to retain and expand its user base by continually offering new features.