Online Checkout Examining Checkout Flow & Button Availability Across the Top 100 U.S. E-Comm Merchants

Research evidence excerpt

Online Checkout Examining Checkout Flow & Button Availability Across the Top 100 U.S. E-Comm Merchants

J P M O R G A N North America Equity Research

10 June 2026

Online Checkout

Examining Checkout Flow & Button Availability Across

the Top 100 U.S. E-Comm Merchants

Payments, Processors & IT Services

Tien-tsin Huang, CFA AC

(1-212) 622-6632

tien-tsin.huang@jpmorgan.com

Connor Allen

We tested the checkout experience across the top 100 U.S. e-comm merchants for (1-212) 270-2895

connor.allen@jpmorgan.com

both desktop and mobile (iOS) flows, our fourth time completing the exercise in

Charles Pearce, CFAthe last two years. For context, we estimate desktop accounts for ~55% of total U.S.

(1-212) 622-4368

e-comm volume (ex-travel), though consumer preference is increasingly shifting charles.pearce@jpmchase.com

to mobile (more details here). The most notable change over the last examination

Abbey Hochreiner

was the increased availability of Apple Pay on desktop (21 merchants added y/y (1-212) 270-5798

to 24% of merchants surveyed) and mobile (8 merchants added y/y to 71% of abbey.hochreiner@jpmchase.com

merchants surveyed). That said, PayPal’s share remains dominant and climbing J.P. Morgan Securities LLC

across both desktop (available at 87% of merchants surveyed) and mobile

(available at 85% of merchants surveyed), and encouragingly, PayPal appeared

earlier in the checkout flow compared to previous iterations, aligned with the

company’s stated goal of moving towards top of funnel. Klarna remains the best

represented standalone BNPL provider (29% of desktop and 33% of mobile) with

mobile up 5ppts over the past 6 months, though Afterpay and Affirm continue to

narrow the gap. Similar to previous iterations, we found that BNPL providers are