Dive Brief:
- More than half of the top 500 online retailers offer PayPal’s One Touch payments system on their web storefronts and apps, the company announced Thursday.
- To use One Touch, consumers enter their PayPal user names and passwords on a device once; they then can make future purchases without re-enetering password, payment or address information.
- Millions of consumers have used One Touch to complete transactions at big chains such as Home Depot and Abercrombie & Fitch, as well as thousands of smaller retailers in the PayPal network.
Dive Insight:
PayPal has quietly taken a leading position in the effort to streamline online and mobile transactions. Its express checkout product, One Touch, is now available at more than half of Internet Retailer’s to 500 online merchants. PayPal launched the product a year ago using technology from Braintree, a startup it bought out in 2013.
PayPal is also helping merchants accept Apple Pay, Android Pay, and Bitcoin payments using Braintree’s integrated SDK, and building “buyable pins” for Pinterest. For its part, the One Touch platform typically improves mobile conversion rates on PayPal by at least 50%, according to the company; the product is particularly effective at reducing hassles for first-time buyers on clients’ sites.
