I’m much more likely to buy with a PayPal option, especially for one-time purchases and those that aren’t especially expensive. I do some writing on-line, and the payments come to me via Paypal, so the ability to pay that way means I don’t have to take an extra step of transferring that money over to my bank account to then cut a check to the credit card company.
Ditto. I am more likely to buy something from a smaller merchant if they offer PayPal. I really would rather not give my credit card info to some relatively unknown e-merchant if I can avoid it. I am also more likely to buy from vendors who work through Amazon’s system as well (for the CC reason and for the vendor feedback section).
I’ve had my credit card details stolen and used fraudulently. I’d MUCH rather go through one agency (PayPal) than give some new, unknown company my details.
Google checkout is horrible. I can vouch for this. You’ll regret using them, I used them and it was nothing but locked accounts, money held for six to eight months, constantly having to fax my driver’s license and other ID to get anything released.
One time they reversed every transaction I had in the last 30 days as a seller. I was lucky my bank account had enough money, but the people had the product shipped. So when I rebilled most, but not all of them paid again.
I could go on, but never use Google Checkout, unless you want to hassles. I would go with a merchant account from a bank first
For sites that take both PayPal and credit cards, I always choose credit cards, because PayPal is annoying and won’t let my credit card be the default source of funding (i.e., I always have to manually intervene so it won’t draw from my checking).
For sites that offer only PayPal, I have to think long and hard about whether or not I really want that particular product from that particular vendor.
And of course sites that don’t offer PayPal aren’t a problem for me.
Reading the above responses, wow! I had no idea that PayPal was so popular for non-eBay transactions.
I have passed up purchases that I was going to make because I couldn’t find the PayPal button.
Since you want a range of opinions, I’ll share my ignorance. Although I’ve seen “pay pal” mentioned on some web sites, I’m not really sure what it is, how it would use it, or how giving Pay Pal my money (via credit card?) would be easier than giving you my credit card number. So, no, that option would not increase your chances of selling to me.
I think I used paypal once for an eBay purchase but otherwise just use my CC. Having the option wouldn’t effect my buying decision in any way.
Offering PayPal is probably a plus. Forcing PayPal isn’t. You’ll get some customers from PayPal that you wouldn’t have otherwise. Lower financial friction; the easiest thing to do is not to buy from you, so make it as easy as possible for people to give you their money. Price your products to balance out the slightly higher charges from PayPal. Unless it’s a big-ticket item, the adjustment will probably be minimal.
Adjust prices across the board, even though it’s only PayPal customers that are costing you extra. Penalize them for choosing that payment method and they will—more often than not—punish you by not buying anything. An extra dollar added on before placing an order can be enough to make them change their minds, but an extra dollar added to the price at the time they are deciding to buy is effectively invisible.
I’ve had problems paying with a credit card (no sign-in, no PP account use) when PayPal is the processor since it wants a US address and I don’t live in the US. If you want any foreign customers, PayPal is NOT a friendly system. They’re US-centric and any concessions they have toward foreign users are grudging at best.
I’d be more likely to buy from you through Paypal. I don’t like giving my cc info to online companies I’ve never heard of before.
I never use paypal. Used to have an account, just for buying (I never sold anything through it) and my experience was an ongoing nightmare. The hoops they make you jump through to verify an account aren’t worth it. In the end, my paypal got hacked (I still have no idea how, no other account of mine has ever been hacked) and I had $50 stolen. I’m very lucky it wasn’t more. I closed my account and don’t intend to look back. I use my cc online for various purchases and have never been a victim of identity theft. I also have my card# memorized so it’s not a hardship at all.
However, as to whether it’s a good business decision to use paypal? Very likely would result in a net profit increase to you, my personal negative opinion of them notwithstanding.
Once I get to the page where I have to select a payment method, I’ve already decided where I’m purchasing the item. So no, having paypal as an option would not entice me to purchase where I wouldn’t otherwise do so. BUT once I get to that page, if I saw a paypal button, I’d be more likely to use that than enter my credit card, simply because paypal already has my credit card info memorized and I don’t, and I’m probably too lazy to get up and get my wallet if I don’t have to. So I would be the case where offering paypal costs you money.
I love love love Paypal. One of the online stores I use can’t offer a specific product with Paypal payments because of some sort of regulation and it drives me nuts! One of the reasons I went with them in the first place is because they have Paypal for everything else.
I hate having to go get my credit card. In the end, the price is what is most important to me, but all other things being equal I would choose a vendor with Paypal over a vendor without.
It doesn’t matter greatly to me, I use credit/debit normally. PayPal is generally ok but I don’t normally use them outside of eBay.
Except for the “unpleasant experiences”, this is my opinion exactly. Real stores can take credit cards. Paypal-only means the store can’t be trusted to manage credit card transactions. Having both means the store can handle both; good for them.
I’ll suck it up and use Paypal if I have to (buying through eBay, etc) but it’s never my first choice. I doubt you’d lose my sale if I had to use it but, if you just offered it in addition to traditional credit/debit exchanges, it would be a non-issue for me, for or against.
There are certain factors one has to consider before writing it off totally though. This is from the web developer point of view. It’s a great time and money sink to get a merchant account from a bank and then get processing credit cards. For a business that, say, has enough capital and business standing to have a brick and mortar store, they should go through this process. But, for example, a small state sports association that offers tshirts and mugs with their branding? Paypal is perfectly appropriate. Or an artist who just wants to sell some of their paintings online? Paypal.
I mean, if Costco just used Paypal, duh I’d be wary. But for a small business? I would absolutely trust them more if they used Paypal. I’ve seen the shit that passes as secure e-commerce apps*.
As an aside, if dealing with a Canadian online shop, ask them if they process credit cards with Moneris. Moneris is pretty much the standard here and it’s a rigorous process. I don’t know about any other countries.
- I should probably explain this further. With Paypal, your credit card info is all processed by them. The web store doesn’t get anything about your financial info. They do not get access to your credit card number, whether or not store that info. However, you have no idea what the security is if they take your credit card directly. You don’t know if they are storing your credit card info securely.
What country are you in? It’s not a problem from England.
To answer the title question, no I would not.
I’ll join the chorus that says, “Add Paypal.” While you’re at it, add Google Checkout, checks, and money orders. Heck, add any method of payment that a customer might like to use.
The easier you make it for people to give you money, the more likely they are to do so.
If you do decide to take PayPal, your website should make it clear that you still accept other forms of payment as well. As one poster pointed out earlier, the layout of the site with the PayPal button makes it look as if you take PayPal only. That’s likely to decrease sales to people who don’t use PayPal, as you might imagine.