How many pages does it take to get through checkout? Among e-commerce-enabled European retailer sites, 15% have whittled the process down to just one.
As retailers deal with cumbersome checkout processes, payments options are another area of focus. While Europe closely shadows the US in preferring PayPal over plastic, change may be overhead.
Acceptance of non-card payment options for online orders in Europe increased dramatically since 2016, according to L2’s recent omnichannel report. Additionally, address lookup during checkout has taken off in the UK, saving users from entering multiple text fields. Now, nearly all UK e-commerce sites have address lookups, an indication that European retailers are looking to streamline the checkout process.
A third of European retailer sites accept PayPal, an increase of 21% year over year. As PayPal became the clear standard, alternative online payment methods from card issuers struggled to make inroads. Only 3% of sites accept Masterpass and just 1% integrate AmazonPay. No retailers accept Visa Checkout or Amex Express Checkout.
Earlier this week, however, the plot thickened. Some of the world’s largest card networks including Visa and Mastercard told an industry conference they would combine their Visa Checkout and Masterpass payment options into a single button, effectively poaching the single-click checkout process pioneered by PayPal. Though the button is still in development, it could pose a threat to PayPal, in both Europe and the US.