PayPal launches One Touch on Thursday in Hong Kong, providing a faster checkout experience for consumers and in turn boosting checkout conversion rates for merchants. Consumers can checkout quicker across all One Touch activated merchants without needing to enter their username, password or payment information after the first login.
Previously launched in Canada, select markets in EMEA, and the US, the expansion of One Touch in Hong Kong comes at a time when cross border trade is the driving force of the global economy. Asia-Pacific accounted for 36.5 percent of B2C e-commerce sales, and is expected to reach 39.7 percent in 2016.
The launch of One Touch in Hong Kong will connect seven million global consumers with the more than one million merchants around the world that are activated on One Touch for a brand new and faster checkout experience.
With nearly USD 4 trillion dollars’ worth of merchandise that will be abandoned in shopping carts this year, cart abandonment is a serious pain point for merchants. One Touch effectively solves merchant’s cart abandonment pain point by removing the log-in process in a more secure manner to increase conversion at the point of checkout and recapture potential lost revenue.
"We know that speed and ease of checkout are key factors in driving sales conversions for our merchants in Hong Kong, where our top sales corridors in beauty, fashion and electronics retailers are facing an increasingly crowded marketplace with the arrival of international retailers as well as a growing number of home grown blog shops from across the region. One Touch enables our merchants to offer the very best customer experience across all devices, especially at the point of checkout," says Patrick Foo, General Manager, China Cross-Border Business, Hong Kong & Taiwan at PayPal.
Eligible PayPal merchants will automatically have One Touch enabled, without needing to do any further integration. Chinavasion, Casetify, Cosme-de, Deal Extreme, Strawberrynet, TinyDeal and TVC Tech are some of the first few Hong Kong merchants to enable One Touch payment and capture the upcoming Black Friday sales, with the service to rollout to thousands of PayPal merchants in the coming weeks.
PayPal merchants are protected by Seller Protection which protects merchants against unauthorized transactions and if items are not received.
"At PayPal, we seek to connect consumers and merchants around the world with a seamless and more secure way to pay, across devices, platforms and channels. One Touch is the biggest change to online shopping in more than a decade. It is a faster, safer way for consumers to check out at our merchant sites, whether in mobile apps, on mobile web or online — across platforms and payment types," Foo added.