Paypal only, am i lowering my conversion rate?

ttmw · Aug 2, 2009

Currently i only have paypal on my site as a method of payment, my market is strictly UK only, will i be loosing sales in your experience from not having other forms of payment?

serrano · Aug 2, 2009

ttmw said:
Currently i only have paypal on my site as a method of payment, my market is strictly UK only, will i be loosing sales in your experience from not having other forms of payment?

Yes, no doubt at all. It has been said many times on this forum that Paypal (love it or hate it) is a good option for initial start up. However as your business grows it is "essential" to offer other options. We offered telephone payments through the bank (ring in your order!) and saw sales increase almost immediately.

Paypal is good but there is a good percentage of potential customers who still won't know what it is/use it. If you can incorporate other payments then all the better.

deniser · Aug 2, 2009

Definitely - people only have to see the word Paypal to log off immediately. They don't even realise that it acts as a payment gateway - they assume you need to have an account via Ebay and that puts them off.

Our sales increased dramatically the day we switched to a standard payment gateway.

Planck · Aug 2, 2009

deniser said:
Our sales increased dramatically the day we switched to a standard payment gateway.

Do you still offer PayPal alongside, or have you ditched it altogether?

deniser · Aug 2, 2009

Planck said:
Do you still offer PayPal alongside, or have you ditched it altogether?

We kept it alongside for a month or so just to make sure everything was working fine. Only about 1 in 10 used it. After a second £200 chargeback we deleted it altogether. There was no difference in sales after that. By that stage it didn't make sense financially anyway as the alternative was far cheaper.

J-Wholesale · Aug 2, 2009

It's not just a case of people not wanting to use PayPal, or making false assumptions about it. Some customers are unable to use PayPal as their business credit cards are refused. If you're B2B, it's essential that you offer other options.

Planck · Aug 2, 2009

deniser said:
We kept it alongside for a month or so just to make sure everything was working fine. Only about 1 in 10 used it. After a second £200 chargeback we deleted it altogether. There was no difference in sales after that. By that stage it didn't make sense financially anyway as the alternative was far cheaper.

I wish we could do that, maybe one day. We tried it for 2 weeks in April, and saw a ~7% drop in order numbers, mainly in sub £10 orders.

bestforsextoys · Aug 2, 2009

I would recommend paypal but dont advertise on your site that you use it

Austin

ttmw · Aug 3, 2009

So what would you suggest i use instead or as well as paypal? I'm using creloaded shopping cart software at the moment and i have a few options that are easily put on the site...

authorize.net
securepay
2checkout
worldpay junior
payjunction

There are more so if you know of any good ones please let me know.

I've got no experience with these so dont know how they work, i just want the simplest to checkout at the best price (dont we all). Any advice?

Online Trader · Aug 3, 2009

Sagepay are very good

TheAlbear · Aug 3, 2009

Yes you are, go with a full payment gateway

i would recomend www.paypoint.net (used to be secpay) standard payment gateway with a range of prices and feature, the advantage from my end is that they have a .Net webservice and the client can have any bank.

If your intrested drop me a line @ Gravitate media 01273 543900

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Paypal only, am i lowering my conversion rate?

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