Why PayPal is #1 for Online Sales
I've already mentioned PayPal in the discussion on Credit Card Processing Online.
Here I'd like to list the reasons why PayPal is currently #1 in online payments far beyond its competitors. PayPal has some cons for example significant transaction fees. Another one is PayPal international acceptance. International acceptance means that for international seller it depends on the country whether one can:
- Use total payment solution.
- Send. Receive. Withdraw to a Local or U.S. Bank Account.
- Send. Receive. Withdraw to a U.S. Bank Account or Check.
- Send. Receive. Withdraw to a U.S. Bank Account.
- Send only.
Recently I had some technical issue with PayPal accepting payment, however it was professionally handled by support and finally fixed.
PayPal is #1 for Online Sales/Payments because of the following reasons:
Reputation
"I use and like PayPal, it has worked well for me..."
You can hear that a lot. PayPal is well known by many who purchase online. PayPal is an eBay company and is trustworthy unlike others. PayPal is a trusted name and customers aren't afraid to use it.
Online Integration
Most other solutions require you to setup a merchant account, which will cost you more in terms of fees and effort. PayPal can be easily integrated and any developer can have that ready within minutes.
No monthly fees
Many merchants use PayPal because there are no monthly fees. Your merchant account is charged following the transaction.
Versatility
PayPal is very versatile. You can sell digital (downloadable) or physical goods as well as any services. You can also accept donations on the site.
Payment Methods of your Choice
Many online purchasers use PayPal through accounts with the company because they don't use credit cards for whatever reasons. Clients have a choice of paying by credit/debit cards, echeck and bank transfer too.
Tuesday, May 29, 2007 2:28 AM
