Thursday, January 18, 2007 9:33 AM/EST
JPMorgan released findings from a recent survey of consumer spending behavior, including consumer adoption of Google Checkout and PayPal. Loren Baker at SEJ has the details, and you can download the research here. The salient points: - Google has 6 percent adoption among online consumers, and those Checkout users are likely affluent and twice as likely to be male.
- PayPal has 42 percent.
- Only 19 percent of Checkout users report good or very good service experiences, compared with 44 percent of PayPal users and 65 percent of credit users reporting the same.
- PayPal has more brand awareness.
We should remember, of course, that PayPal and Checkout operate in different ways. PayPal is a person-to-person payment system, whereas Checkout holds your credit or debit card information for online transactions.
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Comments (2)
I'm very surprised PayPal's satisfaction rating is that high.
Then again, I'd guess the majority reporting satisfaction are using PayPal for making payments, but not for accepting payments, which would be likely to change the results.
Posted by Joe | January 18, 2007 11:40 AM
I run a lot of transactions through PayPal (40-60 a day) today for an online content subscription service. I'm very satisfied with them ... they provide a solid api, good customer support with phone numbers I can call when I need to (admittedly, they had a major 36-hour gaff this past weekend that cost me a couple of thousand bucks, but that was the first time that happened in 5 years.) They're rates are as competitive as using a merchant account with fewer headaches and they take care of a lot of the wierd transactional stuff that crops up with using a gateway/merchant. Also, I can get money in a few days unlike 2co.com, for example, which only distributes funds on the 1st & 15th of the month and keeps a % of sales in escrow for 3 months. I looked at Google Checkout for a new site -- just because we wanted to see what else is out there -- and decided to stay put. The lack of contact information and experience with payments scared me off for now.
Posted by Bob Tabor | January 18, 2007 1:31 PM