PayPal has long been a pioneer of mobile payments. Our founders had the idea of letting people beam money to each other via mobile devices. That vision has stood the test of time. Last year, we handled $227 billion in mobile payments globally.
Most people are very familiar with PayPal as one of the most trusted and widely used digital wallets in Canada and around the world. Every day, millions of people click on the famous PayPal button when shopping on their favourite websites. Yet there’s much more to PayPal. Our best kept secret is the fact that we are the leading open payments platform for businesses.
Braintree, PayPal’s mobile payments specialist, makes it incredibly easy for merchants and developers to accept a host of payment methods, including PayPal, credit and debit cards.
To help Canadian retailers boost revenue, we’re excited to announce that Braintree merchants in Canada can now accept four popular digital wallets in-app and on mobile web:
Apple Pay,
Google Pay,
Visa Checkout, and
Masterpass– all in a single integration. That’s, of course, in addition to PayPal -- one of the most trusted [1] and highest converting [2] digital wallets globally.
If you are a Braintree merchant, contact the
Accounts team to enable your Moneris processor connection. Any merchant processing with Braintree Direct and a Moneris connection can manage wallets availability for their customers in the control panel directly. If you’re a new merchant based in Canada and would like to offer PayPal, Apple Pay, Google Pay, Visa Checkout, Masterpass
sign up or contact our
Sales team for more information.
Mobile commerce driving retail sales
It’s no secret that mobile is driving retail ecommerce sales worldwide. By 2021, mobile retail commerce sales are expected to grow to $3.5T – that’s 73% of total ecommerce sales and 12.7% of total retail sales worldwide, double the share of 2017 [3]. As people spend increasingly more time shopping on their phones, offering customers a checkout experience that’s optimized for mobile conversions has become more important.
Digital wallets are an increasingly popular way to tap into the mobile opportunity. Also known as mobile wallets, these payment methods offer customers a convenient path to purchase that minimizes friction and helps provide a secure checkout.
Getting an edge against competitors
To capitalize on the opportunity, successful retailers minimize friction during the mobile purchasing process, especially at checkout. Checkout is the moment when consumers part with their money but have not yet seen, touched, or received their product -- any friction can give the consumer an opportunity to reconsider their purchase and abandon their cart. In fact, according to a recent Baymard survey, 28% of consumers will abandon the checkout process if it is too long or complicated [4].
Digital wallets can help to simplify things -- and help drive conversion -- because they provide an efficient checkout experience to allow customers to pay in the way they want. In that same Baymard survey, 12% of respondents said they wouldn’t complete their purchase if they couldn’t select their valued payment method [5].By offering a familiar, proven checkout flow with fewer steps, merchants can gain and maintain an edge against competitors.
Leveraging trusted ways to pay
Despite fraud prevention tools that merchants use to help protect their customers (and their reputation and revenue), sharing personal payment information is still perceived by many as risky. Digital wallets can help alleviate fraud concerns. For instance, a recent study found that 80% of users surveyed reported feeling more secure using PayPal than sharing credit card information on mobile [6].
Private authentication from biometrics (fingerprints or facial recognition, for example) as well as secure encryption and tokenization of payment information are a few reasons that digital wallets are attractive to buyers. As is the backing of trusted third-party technology and financial leaders. In a climate where customers are increasingly cautious about whom they share sensitive information such as payment data with, digital wallets can go a long way in helping merchants build trust.
1.Kelton Research as commissioned by PayPal, online survey administered to 2,115 Americans aged 18+, June 2018.
6. comScore online survey, Q1 2018, n=4,200 U.S. adult mobile shoppers.