Paypal Merchant Services
If your going to do any business on the Internet then you need a way for people to pay you for your Product or Services and you need a way yourself to pay for things.
That is where Paypal comes in and allows you to accept Credit cards, a straight Paypal payment or you can also E-check through Paypal.
Why Paypal?
Here's why:- Paypal is the standard. Whether we like it or not, Paypal is the de-facto, it's what everyone uses, everyone has an account and everyone knows how the system works. Okay, not "everyone" who is online uses Paypal, but chances are if a person has made an online purchase before they know what Paypal is and how it works. The awareness factor is only going to increase as more people become comfortable with online shopping.
- People treat their Paypal accounts like play money. Initially I was frustrated that Paypal kept my money in a "paypal account" and I had to withdraw the money before I could see it in my bank account. This was one of my original complaints in the Paypal Vs Paymate debate. Paymate deposits my money directly into my bank account (minus fees) while Paypal pools my money in a virtual account where it gains no interest and runs the risk of being frozen, as so many Paypal horror story victims recount. I thought this was a bad thing.
- EBay creates Paypal dependent consumers. The most common form of online commerce is eBay. Many thousands of people are first introduced to buying and selling on the Web thanks to the miracle that is EBay, either by selling or buying something at auction or under a "buy it now" purchase. As we all know Paypal is well integrated with eBay and many first time eBay users will very quickly become first time Paypal users as well. It's very likely they will keep a balance in Paypal purely as "auction money" that they spend at eBay. This process is where they first experience the "play money" psychology and at some point in the future when an eBay user decides to buy outside of eBay, they will feel very comfortable using Paypal, yet they may consider using their credit card not safe. In that case if you don't have Paypal as an option, you potentially lose the sale.
Head over and sign up for an account, it's free and you will need it.
« Movable Type 4.0 is Available! | Home | Traffic Hurricane to your blog »

Post a comment