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Thread: Converting customers
Dec 22, 2005, 03:41 #1
The poll, commissioned by CyberSource (Nasdaq: CYBS) , discovered that sellers who accept four types of payments -- such as credit cards, online checks, PayPal and similar services -- have more visitors convert to customers than do merchants who offer a single payment method.
According to the data, merchants can convert as many as 20 percent more customers by offering them more payment types to choose from. Those merchants offering one payment type, such as general purpose credit cards, for example, convert 60 percent of their shoppers.
Interesting article, which will help you to think about other payment alternatives than just credit card. I have witnessed many topics that discussed the choice between a real merchant account and Paypal/other payment methods, but I guess the answer is right here in this article.
Dec 22, 2005, 16:00 #2
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We use swreg.org services, use it as a payment processing system. Swreg gives to our customers different payment ways, like PayPal, CC, Payment by phone/fax/mail.
Most popular are Credit Card and PayPal. And, having nothing against PayPal, there are some fraudulent PayPal orders and usually it's almost impossible to fight such frauds.
And i remember one day, we switched to another payment processing system with Credir Card payment only. Lots of people required about PayPal.
So, i believe that, generally speaking, customers should have a choice, not only in payment ways, but also in product's range. Just my personal opinion.