Right now we only accept payment by Debit or Credit Cards. We see a lot of customers getting to the cart confirmation and then not completing the order. I personally feel this is because the page looks like too many inputs, too much work and contrasts the easy navigation of the rest of our website. Adding Paypal would replace our card details and address boxes with a link through to PayPal offering them a simpler (and faster) way to pay.
Are there any studies which show adding another payment processor (Such a Paypal) increases UX by speeding up the process in a way that they are more inclined to complete the purchase?
Answer
I don't know of any reliable research but:
- these guys report 33.7% increase in conversion rate after adding paypal.
- a comment for this article suggests it works.
- so does this blog.
- a cautionary note is in this article which is really worth reading if you are to replace current methods with paypal (not a good option - you better add it).
But seems to me most logical that adding paypal would increase conversion rate. While the problem might be elsewhere, adding paypal should not drop conversion rate, and to be frank - it is rather easy to implement and you can tell for yourself by trying it (and would be nice if you report back results).
Personally, I always use paypal checkout when available because all I need is to type my password and the merchant gets none of my card details (increased security). It simplifies the payment procedure and reduces the steps required to complete the purchase. While probably not many exit because of the lack of a paypal option, it is the extra steps you need to go through where users exit.
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