Merchant Innovation

PayPal’s One Touch Power Play

It is about to get easier to pay with PayPal – as the company has announced the rollout of One Touch for Web. Similar to the mobile version of the product that PayPal introduced last year, One Touch for Web allows consumers to pay without user IDs or passwords on websites – provided they have logged in once.

“When PayPal pioneered the digital wallet more than 15 years ago, it was with the goal of making it easier for consumers and merchants to connect online, eliminating the need for consumers to type in payment information at checkout,” PayPal Senior Vice President Bill Ready noted on the company’s blog today.

The post also noted that One Touch for mobile – currently enabled in apps like Airbnb, Lyft, Jane.com and Boxed among others – has led to both an improved customer experience and an uptick in sales, average order values and customer adoptions.

“For example, Yplan reported a double digit increase in conversions since using One Touch, and StubHub reported a double digit increase in total sales and transactions through PayPal on iOS with One Touch since enabling One Touch for mobile last fall. And because One Touch enables consumers to pay without entering any payment information even at signup, it helps to increase customer adoption.”

With the extension into Web browsers, PayPal says that consumers can now rely on a single, streamlined and secure shopping experience – but merchants will not actually have to do anything to provide it for them.

According to the PayPal, most of their merchants will automatically have One Touch enabled for their customers, without needing to do any integration. The feature will simply become available for millions of PayPal customers across the vast network of PayPal enabled merchants.

Moreover – PayPal notes – because the new iteration of One Touch has now expanded past the bounds of native mobile – One Touch will soon be online for PayPal’s 165 million customers regardless of whether they have access to the PayPal mobile app.

PayPal says that One Touch across all of its platforms will begin to roll out today beginning in the U.S., and will expand internationally in the months to come.

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New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.

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