You’ve probably encountered this annoyance shopping online before.
You’ve added that cool new pair of plain white socks to your cart, you’ve headed to checkout…only to find they don’t accept PayPal. Naturally, you don’t complete the purchase, and start searching for a PayPal-friendly company to give your sock business to.
If your ecommerce business doesn’t take advantage of PayPal, you’re turning away tons of potential customers and sales.
Whatever your excuse was for not having the payment tool integrated in your ecommerce store is now moot, as PayPal recently announced it’s making the platform readily available to online businesses of all shapes and sizes.
Put ‘er there, PayPal
PayPal is the most used payment tool on the planet, with over 224 million active users. The ability to operate in any currency makes its reach vast, opening sales avenues for even the smallest of ecommerce shops.
The trust it elicits in online users is obvious: Almost 44 per cent of users are more likely to shop and trust a business operating with a preferred payment provider, and 54 per cent of consumers are more open to buying off sites that accept PayPal. Shoppers clearly take solace in protection from fraudulent transactions, and that their personal data is secure.
This security and trust is all the more crucial if you’re a startup ecommerce business, or still relatively unknown in the market. The PayPal symbol offers added credibility and safety to any ecommerce storefront.
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As for multiple currencies, this opens the door for more customers from around the globe, which wouldn’t be possible using other rigid online payment tools. The Partner with PayPal program will extend your reach to global markets, helping you grow exponentially. It provides everything a budding entrepreneur needs to get their ecommerce store running, including checkout systems and credit payment plans.
Better yet for those with global domination plans aspirations is the Global Sellers Program. Along with the currency convenience and handling of esoteric tax information, GSP takes it to another level for your international sales. This service translates product titles, converts online prices, and ensures all payments are localized, allowing you to speak to audiences in languages they’re comfortable with. Your ecommerce site will rank better on search engines, too, now that your offerings are localized.
All the Features
We’ve touched on some of the features over 200 million different PayPal accounts enjoy, but there are so many more:
- Credit and debit card register capabilities
- Antifraud technologies
- Online invoicing
- Mobile payments
- Virtual terminals
- Secure account management and logins
- International and domestic money transfers
Finally, we should touch on transaction fees, which we’ve managed to dodge throughout this entire blog. Admit it; you wanted to cover this first.
PayPal is fair, and usually doesn’t charge over a dollar on each transaction; other online payment platforms can charge as much as 3 per cent. The lower fees help business owners save on transactions, improving the bottom line and gross profits.
Now that PayPal is more secure, convenient, trusted, flexible, and affordable, there’s no reason not to integrate the payment tool into your ecommerce website. I mean, do you want my sock money or not?
If you need assistance integrating PayPal into your existing ecommerce website, give the Eden Advertising team a shout and our web development team can help you grow your sales potential and market reach.