Paypal Must Be An Option At Your Website
Yaro Starak over at his impressive blog Entrepreneurs Journey emphatically states: Paypal Must Be An Option At Your Website.
And I agree 100%. I’m a big fan of PayPal and have been for a long time. They have a strong brand with well over 100 million users and most people online (the vast majority I’m safely guessing) know the PayPal name, respect it and quite simply, trust it.
Says Yaro …
I believe no online merchant can afford not to offer Paypal. If you don’t provide a Paypal payments option you are leaving money on the table. It’s as simple as that.
One of the points he raised was that “People treat their Paypal accounts like play money.”
Your business has to accept Paypal “play money” because it psychologically reduces buying barriers.
The “play money” aspect rings true. I’ve often had and seen comments where people state they keep a small amount of money (to play around with) in their PayPal account for easy online purchases.
The fact that they feel so comfortable with PayPal is one less barrier to making that connection with a buyer - the payment isssue (ie: they don’t have to whip out their credit cards) is not on their minds.
I’ve personally noticed that this works very well on information products priced under $20.
2 Responses to “Paypal Must Be An Option At Your Website”
By Duncan on Oct 27, 2006 | Reply
I agree 110% with both of you. It’s exactly the way I’ve used paypal for the better part of 7-8 years, indeed when it comes to hosting and domain registration for example I actively sort out and have only used companies that take Paypal. Of course there was another reason for this as well..for us Aussies anyway, it’s not that long ago that you couldn’t cash out Paypal funds into an Australian bank account, so you had to find some way of using them. eBooks and info products are the same: I’m 99x more likely to buy a product if I can pay by paypal, indeed I don’t believe I’ve ever bought one of these products using a credit card.
By Michael Stelzner on Oct 30, 2006 | Reply
Hmm. I only accept Amex, Visa and MC. Maybe I need to reconsider. My problem is that I cannot get my PayPal account hooked up to my business checking account for some reason. It is also complicated by the fact that my wife uses ot for Ebay. - Mike