Consultancy Awards PayPal Security Payment Crown
eBay may have given PayPal its early transaction roots, but its application appeal is widening, according to Auriemma Consulting Group. And its security efforts may have something to do with it. Indeed, PayPal scored the most-secure-payment method in the latest survey by Cardbeat, a syndicated market research report by the payments and lending consultancy.
“More than three-quarters of our respondents said they have a PayPal account, a 40% increase since our 2008 Cardbeat study, when 55% of respondents had one,” said Nancy Stahl, editor of Cardbeat, in a statement.
Still, credit cards scored the most frequently used method of paying for online purchases. Out of the 78% of respondents who said they shop online, 70% use credit cards, trailed by PayPal (39%), and debit cards (37%). But, the research indicates that PayPal has been stepping up its transaction game. Indeed, the number of PayPal transactions doubled from 10.8 in 2008 to 21.2 in June 2010. Plus, almost 2/3 of those transactions were generated through non-eBay activity.
The data comes from a survey of 428 cardholders conducted in June of 2010. The survey is conducted monthly in the United States and quarterly in the United Kingdom.
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