Is paypal worth it?

[nineseven]

Hi

I was looking for opinions on using paypal on eCommerce websites.

I offer paypal as a payment option and I always get really annoyed when I see the fees I get charged to process transactions, so my questions is:

Should I drop paypal and force customers to pay via credit / debit card or leave paypal as an option so I dont lose customers.

Do you think dropping paypal will result in a loss of customers or do you think that those customers would be happy to use other payment methods. It currently equates to about 10% of orders

thanks

[NetConneXions]

if your referring to your sunglasses site, im pretty confident you would loose sales if you dont have a paypal option. Love it or hate it, its needed on most sites (not all ofc).

Many people have paypal but dont have a credit card.

[downsouth]

Its defo worth it, lots of people are aware and therefore comfortable using it.
Its pretty straight forward to use.

I guess you've reached that stage of becoming very aware of the fees and are looking around for better payment providers?

Do you have a selection of payment handlers at present???

[nineseven]

Thanks for the replies.

They have confirmed what I thought - I need to keep paypal as an option rather than getting rid of it as I would like.

I use Llyods TSB cardnet / protx and google checkout also, both of which I am very happy with. I guess this is why I get annoyed when I see the paypal charges as they are considerably larger than these other 2.

[Fuzzy]

I would def keep it, as many payment options as poss imo ;)

[downsouth]

If you dont mind me asking what are the LTSB cardnet charges? I'm looking to include a more professional payment handler too

PM if you want

[nineseven]

@downsouth

I cant remember exactly off the top of my head. I'll check when I back later and let you know. I did manage to get them down a bit from the original prices they quoted.

heres a link to the website - http://www.lloydstsbcardnet.com/

[flood]

I use paypal, but I have micropayments set up, which means that any transaction under about £9 is cheaper than standard paypal

[Peter1982]

Paypal is the scourge of the payment processing worl in my opinion. They act like a bank, they hold you money and don't pay you any interest, they charge you extorsionate charges to accept payments and as far as I can tell they're completely unregulated.

But

If you don't accept Paypal on your site you will almost certainly loose customers, people who haven't got their credit card on them or don't have one at all. It's a necessary evil I'm afraid.

[Jay08]

We get alot of sales through PayPal so its something we will be keeping. It does have a good side which is you get the money straight away.

Found this on PayPal site, you would have to be making alot of sales to get cheap rates.

Monthly sales Price per transaction
£0.00 GBP - £1,500.00 GBP 3.4% + £0.20 GBP
£1,500.01 GBP - £6,000.00 GBP 2.9% + £0.20 GBP
£6,000.01 GBP - £15,000.00 GBP 2.4% + £0.20 GBP
£15,000.01 GBP - £55,000.00 GBP 1.9% + £0.20 GBP
above £55,000.00 GBP* 1.4% + £0.20 GBP