PayPal Reigns As Web Transaction King
By far, PayPal is the biggest payment processor on the Web, according to new research from New Relic, a Web app performance management company. Overall, the eBay-owned service processes 60% of Web transactions, New Relic found after reviewing 65,000 payment transactions by 21,000 Web applications. During the test period, PayPal processed over 66,000 payments, more than three times as many as the nearest competitor, Authorize.net. Google Checkout came in fifth with just over 3400 payments.
As VentureBeat notes, “Google does win, however, in the speed category.” In fact, “Google Checkout’s average payment processing time was a blistering .26 seconds.” In less than a third of a second, New Relic spokesman John Essex said, Google has to “collect and transfer your payment information -- name, address, card number, purchase details, etc. -- to the financial institution”, and then query Visa or Mastercard to see if you are a good credit risk, get a response, and return it to the website’s e-commerce engine.
By contrast, “PayPal’s performance was only mediocre, but hardly pokey, averaging just under one and a half seconds,” VB notes.