August 4 , 2009

Canadians purchase more than $2B online with PayPal
PayPal releases ecommerce fast facts

On Friday PayPal released their Q2 2009 PayPal Canada Fast Facts based on recent quarterly earnings. The findings offer insight into how Canadians are using ecommerce in general and how they utilize PayPal in particular.

Worth noting is that Canadian shoppers use PayPal every 1.2 seconds to make an online purchase and that PayPal accounts contain about $3 billion in stored value that is spent every two weeks.

• A Canadian shopper used PayPal to make an online purchase every 1.2 seconds.

• Canadians made 1,200 cross-border transactions every hour.

• 1,000 times every 22 minutes, a Canadian received a payment via PayPal.

• Annually, Canadians purchase more than $2 billion online through PayPal.

• PayPal accounts contain approximately $3 billion in stored value that is spent every 2 weeks.

• Fifty-one per cent of Canadians say they typically feel at least somewhat anxious when they make an online purchase (comScore survey, 2009).

• Fifty-two per cent said an ideal payment process would involve just one click, no matter where they were shopping (comScore survey, 2009).

• Forty-three per cent said it takes too long to fill out credit card information for online purchases (comScore survey, 2009).

• Forty per cent of those who abandoned their online shopping carts said the payment option they wanted to use was not available (comScore survey, 2009).

• Fees prevent Canadians from sending money online. Extra fees concern some more than others: younger Canadians are more likely not to send money online because of the fees associated with the transaction. (Ipsos Reid poll, 2009)