[eMarketer] PayPal plans growth by concentrating on the checkout experience

PayPal is going back to the basics, CEO Dan Schulman said at last week’s Bank of America Global Technology Conference. It plans to improve its core checkout experience, Schulman said, because “checkout is to PayPal as search is to Google.”

PayPal users only choose PayPal Checkout about 50% of the time it's available to them—and PayPal thinks it can do better.

The one-click checkout space is getting increasingly competitive, as evidenced by one-click checkout provider Fast shuttering in April. While the space is dominated by titans like PayPal and Apple Pay, these incumbents face growing pressure from Bolt, which has been bolstering its offering despite dealing with a few issues of its own.

Focusing on these three initiatives, eMarketer says, should help PayPal Checkout improve the customer experience, making the process more seamless and meeting consumers’ rising expectations for payment flexibility. This should help PayPal stay competitive and maintain its momentum: PayPal’s core transaction payment value is expected to hit $604.67 billion in 2022, up 21.3% YoY, according to our forecast.

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