Why It Pays for Online Businesses to Offer More Than One Payment Option

Are you still stuck in the stone age when it comes to online payment solutions for donations, services, and purchases? Paypal has been a popular option for online businesses, but this gargantuan payment service isn’t the only game in town. In fact, if you’re not offering more than one online payment solution, you’re probably missing out financially. You may not realize this, but not everyone is comfortable using Paypal, and this can be for many different reasons.

See, it makes sense for businesses to make an attempt to cater to customers who may not use Paypal. Yes, there are viable alternatives to this popular payment service. Here are a few alternatives that will help you capitalize on all your online payment processing options.

Amazon Payments for Online Businesses

Amazon’s payment system has been around for years and has a large user base. It’s easy to use and supports consumer interactions on multiple platforms. With Amazon payment services, you’ll have:

  • Seamless checkout experience for customers
  • Subscription services & recurring payments supported
  • Fraud prevention & protection from one of the world’s largest companies

Stripe

Stripe is probably one of the most promising Paypal competitors. Stripe serves the UK, Ireland, Canada, and of course, the US. It offers users wonderful customization options and integrates easily with WordPress through a variety of plugins, both free and paid. Their transaction fees are nearly identical to Paypal’s.

Google Wallet

Yes, Google has entered the financial game! We all knew they would. This search giant is a mover and shaker in the mobile payments arena for many reasons, but it’s probably for search visibility. Products listed through Google merchants are also featured on the Google shopping section of its search site.  It’s easy to register with this service as a merchant or nonprofit, and it integrates easily with websites.

Lots of business of all sizes currently use Paypal, Stripe, Amazon Payments, and Google Wallet. However, we’d also like to point out that it might be easier just to go with a standard merchant account if you plan to pull in a lot of business. There are tons of gateways and payment processors that are willing to work with businesses of all sizes.

A simple cursory search via Google for merchant accounts yields a page full of processors eager to help business owners just like you. Just remember, having a decent number of options for your customers is a smart decision and will set you up for success when it comes to generating capital for your organization’s needs.

 

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