How Accepting Other Payment Methods Other Than PayPal Can Help Your Online Store To Grow

[Good-Guy]

It has been a well-known fact that Paypal has been dominating the online payment industry for more than a decade as of now. During the mid 2000s and during the 2006-2010 era, there were many online stores that used to accept paypal as a means to receive payments from customers. Right now we are in our 2020s and it seems we have been witnessing a huge influx of online stores as more and more online stores are being created every year as compared to older times. I believe that online stores must start accepting more payment methods such as Payeer, Perfect Money, Cryptocurrencies. I can understand that there are many challenges like refund issues associating with accepting payments through these payment processors but there should be a way to deal with these issues. Using other methods other than PayPal will allow you to receive more payments. Hence, you will be able to earn more. What do you have to say?

 

[Augusta]

i think a good online business owner should know this and must have inculcated this already into his or her online business. There are numerous ways of receiving payment online so adding about 5-6 payment system will enable varieties. So anyone buying online would have had the option to pay through any means

 

[Mika]

Paypal is undoubtedly one of the most used payment methods, but sadly paypal is not available in many countries. When your online store uses just paypal, you will not be able to sell to the countries where paypal is not available. If you are selling online, you should give multiple payment options for the buyers. You can include crypto payments.

 

[Alexandoy]

I agree that a store should not be limited to Paypal payments only. Now that crypto coin has many users maybe the processing of payment should include at least one crypto coin for the convenience of the consumers. However, in our country the use of crypto coin is not popular yet so businesses are still on the credit card aside from the cash payment.

 

[Sotherefore]

I understand perfectly what you are trying to say because a situation in which an online store accepts more than one type of payment method the possibility of such an online store having so many people will be high because it is not every Continent of the world that accept PayPal as their mode of payment and a lot of people may not also be conversant with PayPal account based on their reason known to them , They may prefer to use any other payment methods such as payoneer , cryptocurrency or any other payment gateways.

When you only choose to accept PayPal as an online store you are only limiting your customers the people who use PayPal account which to me is not the best Because there are a lot of potential buyers that could have patronized your online business if you also chose to accept other means of payment.

A lot of people most especially here in Africa will choose to pay every online store with either a MasterCard or using of cryptocurrency because those are the most suitable way of paying for products or services online , PayPal account is not accepted over here and anyone who only accept PayPal as payment won't likely gets client in most African countries.

 

[Bookwormlux]

You are actually very correct about this and that seems to be the mistake that a lot of people make and often do not even get to realise how it is limiting business growth . The fact is that as business owners you have to make sure you think outside the box , and expand your horizon so that people would find it easy to get access to you and utilize any opportunity that your business is trying to give them .

I personally do not like making use of PayPal for transactions, and I will never accept to use it for any company or business organization that seems to emphasize on making use on PayPal only as the mode of payment .

A lot of companies are currently trying to make sure they integrate other payment systems like cryptocurrencies and Bitcoin together with some other payment methods .

It is obvious that some businesses usually limit themselves to PayPal only due to how much trust they have in it, and the fact that it is easy to deal with any fraudulent transaction there than any other platform that is why , it is still very important to get to realize that Paypal is not accepted in all countries.