Quick and Convenient Way for Your Customer to Make Payment
June 29, 2017
Quick and Convenient Way for Your Customer to Make Payment
Score 10 out of 10
Vetted Review
Verified User
Overall Satisfaction with PayPal Payments
Paypal is used as one of the main payment gateways for our company. In addition, it is also used as a supporting payment channel for my fashion start-up business. Paypal makes it easier for our customers to have access to our services and products by allowing customers to make payments hassle free and securely.
- Online Payment: when it comes to e-commerce, being able to make payments creates a huge difference in sales conversion. Paypal does this amazingly well due to its popularity with online consumers.
- Secure (for both seller and buyer): with years of experience, Paypal is able to provide warnings about a potential risk when doing a transaction with a particular account. Therefore, both the seller/buyer knows who they are dealing with and will be able to make a decision to proceed with the transaction or not.
- Convenient: while other online payment gateways (such as Xoom or Pesopay) make it difficult to integrate with your website. Paypal is extremely easy to integrate which makes it a popular payment gateway for a start-up business.
- Collaboration: Paypal could create some collaborations with the local banks so the process of withdrawing from a Paypal fund [and transferring] to a bank account is faster and easier, especially for new users.
- Adding more payment methods: Currently, people can only make a payment if they have a debit or credit card. If more local bank cards are allowed, this surely a big help for e-commerce business owners.
- Location convenience: sometimes if you are logging in your account at different locations, it might create an issue. For example: if you are logging in a Paypal account in Vietnam while your account wass Currently Philippines, Paypal reserves the right to lock your account until you provide further clarification.
- Conversion rate increase from 0.4 to 1.7 in 5 months of implementation (Paypal payment channel).
- Credibility increases since customers tend to spend a little more without hesitation since they know making a payment through Paypal is secure.
- Minor difficulties if you are traveling overseas and want to make a transfer from your PayPal account.
PesoPay is a local payment gateway in the Philippines. Unlike Paypal, PesoPay charges an annual fee regardless your sales volume (PayPal does not have an annual fee, only a transaction fee). This is absolutely something to consider since if you are a startup business, your volume might not be high enough to cover the annual fee, plus PesoPay is not well-known when dealing with international customers.