Report: Alternative Payments Figure Prominently in Mobile Web Transactions
June 8, 2012
Research conducted over the last two months shows consumers’ choices in how they pay for online transactions on a desktop or laptop differ significantly from how they pay when using a mobile device. E-commerce solutions provider ShopVisible examined 23,000 Web and mobile transactions from 86 retailers and found 67 percent of consumers using a mobile device paid for online transactions using PayPal or other alternative payment method while only 33 percent paid using a credit card. During the same time period, payment patterns for users accessing e-commerce Websites using a desktop or laptop showed almost a mirror image: 62 percent paid by credit card and 38 percent using a combination mostly of PayPal (16.8 percent), Amazon Payments (12.9 percent) and Google Checkout (8.1 percent).
“These results decipher some of the code to unlocking the potential of mobile commerce,” says Sean Cook, CEO of ShopVisible. “Mobile is a different animal, as this research shows. Lacking a simple alternative payment method could crush any retailer implementing a mobile commerce strategy. Even if alternative payment methods don't constitute a large percentage of your existing Web business, you should reconsider the relative importance when it comes to your mobile strategy.”