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Does not having PayPal REALLY lose you customers?

by Dragonfire Wealth
37 replies
I don't accept PayPal at all, simply because I'm not allowed to have a PayPal account (due to a policy that doesn't exist). I use a different merchant account and I accept Mastercard, Visa, American Express, even Discover...DISCOVER!

I don't understand why most are worried that switching processors would lose them customers. If they want to buy something, it would be just as easy for them to enter their card information.
#customers #lose #paypal
  • Profile picture of the author Robin Blinds
    I think it matters if you're selling WSOs, because the use of paypal by both customers and affiliates makes it difficult to switch
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  • Profile picture of the author Ben Gordon
    Yes, statistics show that websites that don't accept PayPal will lose, on average, 15% of its customers. Again, that's on average. Sometimes it'll be more and sometimes less, depending on what you're attempting to sell.
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  • Profile picture of the author HFlame7
    Originally Posted by Dragonfire Wealth View Post

    If they want to buy something, it would be just as easy for them to enter their card information.
    Easy? Yes. But not necessarily faster.

    PayPal stores the information, so in addition to it being faster (because the card info is already stored), you can also pay from your bank account (which is also stored).

    In saying that, if your product or service is really worth it, then people will take the time to fill out the credit card details. But I would look into ways of getting a PayPal merchant account as well.
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  • Profile picture of the author Adevictus
    You can always use a third party merchant gateway that accepts PayPal as well as other platforms. I've always opted for those because the niches I sell in have so many PayPal users that if I didn't take payments via PayPal I'd lose 50-60% of potential customers. I remember I was taking payments only through Moneybookers with a credit card gateway and then one day I switched to 2checkout and my sales instantly went up 1400% that day because there was so many customers with PayPal waiting to buy...
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    • Profile picture of the author Curtis2011
      Paypal is the biggest name in online payment transactions and the market leader, so yes my guess is that it will hurt you somewhat.
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  • Profile picture of the author Dragonfire Wealth
    2checkout sounds really enticing, but I've always been a bit put off by their fees. As it is now I only pay 1.1% but if it would increase my sales, it may be well worth it.

    Do they allow the sending of money to someone with PayPal? (Refunds, people you outsource to etc)
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    • Profile picture of the author Chris Grable
      Recently discussed!

      http://www.warriorforum.com/main-int...refer-pay.html

      Without repeating myself verbatim... If you don't accept PayPal... I typically pass you by!

      cag
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      • Profile picture of the author fluffythewondercat
        Originally Posted by Chris Grable View Post

        Recently discussed!

        http://www.warriorforum.com/main-int...refer-pay.html

        Without repeating myself verbatim... If you don't accept PayPal... I typically pass you by!
        I refer you to:

        http://www.warriorforum.com/blogs/pa...um-tricks.html

        Specifically, item 5. The one that starts out "Clue Time: You are not the market."

        fLufF
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        • Profile picture of the author Chris Grable
          Originally Posted by fluffythewondercat View Post

          I refer you to:

          http://www.warriorforum.com/blogs/pa...um-tricks.html

          Specifically, item 5. The one that starts out "Clue Time: You are not the market."

          fLufF
          --
          fLufF... In this case... I AM the market. The OP asked a question. If you go back and read the thread(s)... I think you will find that I was talking about my buying preferences...
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          • Profile picture of the author Black Hat Cat
            Banned
            The overwhelming majority of people in this country and the world in general have never even heard of Paypal, let alone use it. Get away from the internet marketing niche, and the effect of not using Paypal will be negligible.

            Yes, you really do lose customers. I have lost a lot of customers just using ejunkie (which flows through paypal). The word "junkie" does not seem to inspire confidence with buyers even after I explain to them that it works with paypal.
            Losing customers because customers don't like the word "ejunkie" has no correlation with losing sales because someone doesn't use Paypal. If anything, your example shows the opposite.
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  • Profile picture of the author Kal Sallam
    Many online users prefer Paypal for thier safety.
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    • Profile picture of the author All Night Cafe
      I sale more things with paypal than my thrid party account.

      If you can't use Paypal, get a friend or family member to
      set one up for you. People online are always looking for
      the Paypal button to pay.
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  • Profile picture of the author WillR
    Think of it like having a bricks and mortar shop in the offline world and not accepting Visa or not accepting Mastercard as a form of payment. Do you think that would hurt your sales? You bet ya. Paypal is one of the most widely recognized and trusted payment processors online. By not accepting Paypal payments you most definitely will be ruling out certain customers. How much it effects your business will vary depending on the type of niche you are in. I think some markets are more accustomed to using Paypal than others.

    But the short answer is yes. I do think it will affect your sales to some degree.
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  • Profile picture of the author peewhy
    It is important to have PayPal - people feel secure and comfortable with it.
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  • Profile picture of the author Hatentrepreneur
    Originally Posted by Dragonfire Wealth View Post

    I don't accept PayPal at all, simply because I'm not allowed to have a PayPal account (due to a policy that doesn't exist). I use a different merchant account and I accept Mastercard, Visa, American Express, even Discover...DISCOVER!

    I don't understand why most are worried that switching processors would lose them customers. If they want to buy something, it would be just as easy for them to enter their card information.
    Can I ask what this policy is that prevents you from getting a PayPal account?
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  • Profile picture of the author Vivek_Sharma
    Why would you ignore PayPal as a Payment Processor, ppl use PayPal because it is safe and reliable, it is trusted by Banks and other Government agencies

    I prefer websites that use PayPal you will loose me as a customer if you don't use paypal unless you are Google or Facebook
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  • Profile picture of the author seomagik
    People use paypal because they trust them. this is biggest payment proccesor on the Internet and they are paypal will not scam.
    if the sumbit their CC infos to a unknow proccessor, there is possibility that their CC details will be stored and abused.
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  • Profile picture of the author Benjamin Ehinger
    Originally Posted by Dragonfire Wealth View Post

    I don't accept PayPal at all, simply because I'm not allowed to have a PayPal account (due to a policy that doesn't exist). I use a different merchant account and I accept Mastercard, Visa, American Express, even Discover...DISCOVER!

    I don't understand why most are worried that switching processors would lose them customers. If they want to buy something, it would be just as easy for them to enter their card information.
    I don't think it necessarily will make you lose customers, but considering I only accept paypal currently, it would really hurt my business. However, I am already set up with two other similar sites, just in case.

    Benjamin
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    • Profile picture of the author robestrong
      I never buy things without PayPal. I don't have a credit card (though I suppose I could get one). I put in a couple of hundred into my PP account years ago and I've never had to put any more in.

      So if you don't offer PayPal, then yes, you would lose me as a customer.
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  • Profile picture of the author Alexa Smith
    Banned
    Originally Posted by Dragonfire Wealth View Post

    Does not having PayPal REALLY lose you customers?
    Yes, it does, because there are so many people without credit/debit cards, whose only means of paying for something online is by PayPal. That's why there are so many threads here asking and answering questions like "Which hosts/autoresponders/registrars will take PayPal, because I can't pay any other way?".
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  • Profile picture of the author AmandaT
    From what I've noticed with my sites, it hurts you most in IM. Many people in IM want to pay with their PayPal balance. Outside of IM I have seen maybe a 5% drop in sales if I remove PayPal as an option.

    With that said, even in IM I saw an increase in sales when I made sure to have a 2nd way to accept payment! I assume this is because when people get banned from PayPal they can no longer buy things through PayPal using a card that was attached to their account.
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  • Profile picture of the author Ewan Lumsden
    Banned
    I actually think it can lose you customers. It's the primary method to pay online fast and easy. People do pay by credit card and other payment options like AlertPay etc, but there are customers that will instantly switch off if you don't have a Paypal option.
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  • Profile picture of the author William Maloney
    Paypal is in my opinion, the most common way of paying online. Also, it's very easy to use, so a lot of people really prefer Paypal, including me. So, it can affect your business.
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  • Profile picture of the author Halcyon
    If you're selling digital products, Paypal is a must.
    If you can't accept Paypal directly then look into 2checkout ( as a previous poster mentioned). Paypal is popular and recognizable among digital product sellers and buyers.

    If you're selling tangible items, Paypal is still good to have but you can survive without it.
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  • Profile picture of the author GMT
    Paypal has done a good job at cementing themselves into buying/selling online, so not supporting them will absolutely hurt your business. You can accept Paypal via 2checkout as well, it's just gonna cost you more.
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  • Profile picture of the author JimmySolis
    Yes, you really do lose customers. I have lost a lot of customers just using ejunkie (which flows through paypal). The word "junkie" does not seem to inspire confidence with buyers even after I explain to them that it works with paypal.
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    • Profile picture of the author GMT
      Originally Posted by JimmySolis View Post

      Yes, you really do lose customers. I have lost a lot of customers just using ejunkie (which flows through paypal). The word "junkie" does not seem to inspire confidence with buyers even after I explain to them that it works with paypal.
      Thanks for the sharing that tidbit, when it comes to software I definitely had ejunkie on the list but I also was concerned about loss sales. Are your customers just confused with paying via ejunkie or are annoyed because of the extra few steps? Maybe you can offer ejunkie or paypal directly for buy page, that way users have the option?
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    • Profile picture of the author AmandaT
      Originally Posted by JimmySolis View Post

      Yes, you really do lose customers. I have lost a lot of customers just using ejunkie (which flows through paypal). The word "junkie" does not seem to inspire confidence with buyers even after I explain to them that it works with paypal.
      Weird... I've never had that problem. Are you using direct buy buttons or the cart function? I use the cart in my PLR store and I actually get a lot of positive comments because people can use it to pay with PayPal or Google Checkout.
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  • Profile picture of the author David Keith
    a lot of people make arguments about the high fees at 2checkout, clickbank, and a few digital river processors that have paypal by proxy systems.

    The truth about fees is that if you are paying them, you are making money. its like taxes. I hate them, but i would rather pay the taxes i pay because i made money than be broke.
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  • Profile picture of the author williamk
    Banned
    This was the case before google checkout and 2Co came into market. Now it is a different story all together.
    Also if you have a good relatioship with them they are happy to pay you via alternate methods too.
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  • Profile picture of the author LegionNate
    So with 2Checkout, is it connected automatically to your Paypal account so money is deposited there, or does it work like a merchant account where money goes into your bank account??? Or Clickbank where they send you a check?
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  • Profile picture of the author zoomsixx
    I have used Amazon payments as an alternative with relativity good success.

    http://payments.amazon.com

    You cannot see who or why people dispute orders until they are already refunded. That is the only problem I have seen.
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  • Profile picture of the author Phobia
    I'm wondering if anyone has any experience running webinars with and without paypal?

    What are the conversion differences?

    Because of webinars being time-sensitive and increased scarcity, I'm thinking the difference would be minimal as the prospect would want to purchase the product no matter what payment processor?
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  • Profile picture of the author Umer Aslam
    Yes you are right. Having a PayPal account is highly recommended if you are planning to start an online business.
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  • Profile picture of the author Steven Miranda
    Without a doubt you will lose sales. If Paypal were not around at all then of course people would use other options.
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  • Profile picture of the author JasonParker
    I did a test about a year ago on this.

    I lost 50% of my sales when not using PayPal vs using PayPal.

    That was just 1 test though.

    But in 2008 I ran an offer using Google Checkout and did OK, but questions came pouring in asking if I had a PayPal option.
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  • Profile picture of the author LegionNate
    So do you guys have a merchant account button and a separate Paypal button so people can choose which one they want to use?
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