Paypal has a 21% market share of all consumer internet payments (source: UK Payments Market 2008, Payments Council) so it is vital you clearly show to your potential customers that you accept paypal.
Currently Not Accept Paypal?
If you currently don’t accept paypal then you really should, even if you put a surcharge on it to cover fees lots of customers will still use it because of the confidence they have in paypal.
Showing Off You Accept Paypal
In my opinion all eCommerce websites should have a little box in their sidebar showing the payment methods they accept. And the box should be clear to users, not hidden at the bottom of your page. The issue of payment is obviously incredibly important to potential customers, so don’t hide away your information on payments.
Instant Increase In Sales
If you currently don’t accept Paypal and you change your mind you should see an marked increase in sales. And if you do accept it but don’t show the fact off then by clearly displaying it you should see a worthwhile increase in sales. All for very little effort.
Paypal also has a very good 72% conversion rate (source: Q1 2008 SME survey). This is higher than other payment processors because of the 3-click system and the fact customers don’t have to enter in there details twice and are familiar with Paypal.
Paypal provide lots of logos so there is really no excuse not to display the fact you accept Paypal. Very little effort for a worthwhile increase in sales is an opportunity you really shouldn’t miss.
Source: Paypal press and Image: Flawedartist
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