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.
Take control of what you can and make your payments platform a growth platform.
As a business leader, there are many forces beyond your control, which is why focusing on what you can control is the smartest strategy in a landscape rife with unknowns. One of the most critical areas under your control is how you approach growing your business.
It’s no secret that PayPal can provide a secure and convenient way for customers to make online payments. And you know this can help increase sales and expand your customer base. But do you know there's more beyond the button that can help your business thrive in an unsteady economy?
With more than 432+ million active accounts and 35+ million active merchant accounts, PayPal is a two-sided network built on a foundation of trust. This didn’t happen overnight. The fact that PayPal is recognized as one of the most trusted brands across all payment providers1 reflects more than 20 years of enabling easy and secure transactions around the world. That’s why 86% of U.S. PayPal merchants surveyed agree that PayPal is the most trusted payment method their company accepts.2 When businesses and customers trust the platform on which they transact, growth follows.
We’re continually optimizing our payment processing engine, powered by PayPal Braintree, to help boost authorization rates. Because our two-sided network handles billions of transactions a year, we have the tools and the data to make highly sophisticated and accurate authorization decisions that can help your business grow.
That explains why 74% of PayPal Braintree users indicate that PayPal Braintree had a positive impact on authorization rates.3 In the US, PayPal Braintree has shown an increase in authorization rates by 3.8 percentage points. And PayPal Braintree has shown an increase in authorization rates by around 4 percentage points globally.4
Not only do authorization rates have a significant impact on your bottom line, but chargebacks can also affect the growth of your business. 82% of enterprise PayPal Braintree users agree PayPal Braintree has an advanced approach to minimize chargebacks and disputes.5 And it shows - PayPal Braintree has demonstrated a reduction in chargeback rates by 5 basis points globally.6 Higher authorization rates and fewer chargebacks can translate into a valuable addition to your business’s payment processing workflow.
Having the right payments platform can also grow average order value. Consider the case of an entertainment company that wanted to increase the volume of PayPal transactions by streamlining and improving the checkout experience for fans.
The company partnered with PayPal to create an optimized user experience and performed comprehensive A/B testing to validate increases in conversion, average order value, and revenue for ticket purchases. With PayPal present at checkout, the entertainment company saw a 44.5% increase in PayPal conversion rates and 0.4% growth in revenue per session.7
We can’t predict the future but we can help you prepare for whatever tomorrow brings. Nearly 9 out of 10 PayPal merchants in the U.S. agree that PayPal is a strategic commerce partner.8 Read more on how PayPal can help your business grow in the debut issue of The Stack, your new source for learning how your payments platform can help you grow and adapt your business.
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