Payment News

Just a few years ago many people saw PayPal as just an online payment channel that eBay users utilized to pay for merchandise at the auction site but that notion has changed dramatically according to a Cardbeat survey by Auriemma Consulting Group, a service management and consulting firm specializing in providing their services to the financial industry sector. The reports from the survey shows that consumer’s perception of PayPal is great because many consumers see PayPal as being more secured than using credit or debit cards at online shopping websites.

PayPal’s payment processing services has become widely known to many internet users. Auriemma Consulting Group’ Cardbeat survey shows that 2/3 of the people who responded to the survey said they currently have an account with PayPal which was an increased by 40 percent since the Cardbeat survey was conducted in 2008. The 2008 survey show that a little over 54 percent of people who responded to the Cardbeat survey said they had a PayPal account.

The Cardbeat survey was based on data obtained from 428 cardholders conducted in June of this year. Out of 78 percent of internet shoppers who responded to the survey, 70 percent of responders pay for items using credit cards as the primary way to pay for items online. The survey did not just focus on PayPal payment services because many people are using alternative way to pay for items online other than PayPal or credit cards. Out of all responders, 39 percent use PayPal payment services. The survey also showed that 37 percent of responders use debit cards to shop online.

The average ticket size for Paypal transactions were unchanged at around $60 when comparing 2008 and 2010 data

For anyone interested in more information about this survey, please contact:
Nancy Stahl at nancy.stahl@acg.net or 212-323-7000.

Source: company press release via Business Wire