When it comes to web transactions, PayPal is leading the bunch with 60% according to a recent study by New Relic. Still, the study shows that Google offers the fastest payment gateway. The slowest transaction happened to some Australian payment gateway, called Eway.com.au. One of the payments took 92.44 seconds to complete. Datacash and USAepay.com were not far behind with 89 and 56 seconds.
The payment gateway is the web equivalent of a modern cash register. This system double-checks whether it is really the person that pays the transaction and that you are the trusted authority to pay for the purchase to be finished. The study of the web’s most popular payment gateways monitored 38 billion transactions daily for big companies like Nike, Groupon, and Zynga. The study focused on transactions by 21,000 web applications.
The study finds PayPal the winner as it is the biggest payment processor on the web these days. Well, let’s say according to this study sample. In this test period, PayPal processed over 66,000 payments – over three times as many as their closest competitor which was Authorize.net with usaebay.com and stripe.com following. Google Checkout only came in at position five with over 3400 payments.
Although Google does not win in numbers, they win in speed. Google Checkout’s average payment processing time came in at fantastic .26 seconds. Just imagine that this system finds in less than a third of a second, data to „collect and transfer your payment information – name, address, card number, purchase details, etc. – to the financial institution,“ says John Essex, Marketing Director at New Relic. And we have to bear in mind that there is also some other stuff to be verified like your data via Mastercard or VISA to evaluate your credit risk, and play it back to the website’s e-commerce platform, and so on.
In this speed category PayPal’s performance was kind of „middle brilliant“ as it performed with an average of under one and a half seconds. An Australian payment gateway, Eway.com.au, showed the poorest performance with one payment taking an incredible 92.44 seconds to complete. The average performance at these payment services ranged somewhere between 3-4 seconds.
In the e-commerce business, speed is business-critical for all web transactions. In these web transaction performance topics time is money. The online shopping experience needs to work as quickly, smoothly and trouble-free for the web consumer. We all know how cancel the transaction when we have to wait to long for the transaction to be completed. The lag in transaction time is the killer of the digital shopping experience. Probably, as we do not see a person handling the transaction, having problems with the cash register or cash machine.
Would you agree with the findings in their infographic?
more „Likes“ and engagement on mobiles, another new study by Nielsen/McKinsey’s NM Incite shows what the real value of „Likes“ is. Although many brand marketers are working on the ROI, most companies still try to find some more value in the social engagement of consumers.
The Nielsen/McKinsey’s NM Incite global online consumers’ research states that the main reason for following or liking a brand or company on social networks is to receive discounts and special offers.
„While some may argue that consumers’ interest in discounts has faded, Nielsen data shows the desire for deals is still strong worldwide,” concluded NM Incite.
The results correspond with the study by ExactTarget and CoTweet from last year. The former study made clear that 40% of brand fans like a page predominantly for their doscounts and promotions.
The new NM Incite finds even higher figures. Almost 60% of US social media users visit social networks to receive coupons or promotions. And even more, 23% do this on a weekly basis. 45% of North American consumers had the strongest interest in using social media for deals, followed by consumers in Asia-Pacific (34%) and Latin America (33%).
Social deals hunters „Like“ at home and at workplace
For most people it does not matter whether they are at home or at their workplace when using the benefits of the Social Web. A sample of ten major markets shows that nearly 40% of active Web users check coupons and rewards sites such as Groupon, Coupons.com and Living Social from home and work computers in September. However, there are respondents -under the age of 20 and 55- to-59-year-olds- who were less likely to follow brands for discounts. Here friends’ recommendations are the drivers for social engagement.
„Social deal hunters“ are obviously also visitors of social networks and blogs. NM Incite found a strong overlap. In their test phase in September, 43% of visitors to social networks and blogs also visited a coupons or rewards site. And, 44% of Facebook’s audience and 63% of Twitter’s audience visited these deal sites. The study concludes that Facebook becomes a key source of traffic to Groupon and Living Social. Groupon’s and Living Social’s visitors came directly from Facebook. This also shows the link between deals and social networking sites, and how companies can motivate consumers to deals.