A lot of bloggers, entrepreneurs, businesses, and companies opt to only offer a limited number of payment methods, typically credit cards and debit cards. “Using PayPal and money transfer is too risky,” they complain. “It's not worth it.”
What they don't realize is how much business they're actually risking. The best online companies and organizations are acutely aware about how hard it is to actually make a sale – it's an entire process of wooing your potential customers, giving them free resources, attention, and excellence, and drawing them perfectly to convince them to pay for a service you provide. To put it bluntly – this doesn't happen easily.
How many customers have companies prevented from buying their products by limited payment options? What about the company that's been looking for a business curriculum for their entire staff, and find they can't pay through a money transfer? Or the university that needs a team of business consultants to come in and fix things, but can't pay the way they want?
1. Adding PayPal
PayPal has become one of the quickest, easiest, and most-used payment options online, yet thousands of online companies don't let customers pay through it.
PayPal boasts one of the most important factors a payment option can gain – trust. For every payment option, there are a dozen shady, risky options that will probably try and take your money instead of transferring it. Everyone knows PayPal, from the smallest blog selling T-shirts to high-ranking blogs that offer year-long curriculums for business. You're giving your potential customers an option they trust, and if it's their primary method for paying online, the worst business mistake you could commit it to prevent them from paying.
2. Adding Money Transfer
There are countless trusted money-transfer companies online. Most banks even let you pay through specialized money-transfer tools that can accommodate international payments. If you do business in Colombia, Argentina, Mexico or the Philippines, for instance, your customers could send money online with RIA. It's not on you to dictate how customers can pay for your services – any company that is preventing customers from giving them money is going to have to answer for the missed sales in the end.
3. Third Party Options
There are countless methods people use to pay for purchases online – money transfer, credit cards, and PayPal are only a few. The trick isn't to cater to every possible customer out there, each with a unique payment method; however, companies that allow popular options like Chase QuickPay (and other Fortune 500 banks), Amazon, and Square Cash can expect to see customers more comfortable with their payments of choice. Obviously, we're not trying to make every option available – just the ones that will work.
Don't prevent your customers from paying. Let them pay the way they want to; you'll see more sales, a greater number of sales, and some serious business growth over time. How can you afford not to?