I’ve been using PayPal for a long time. I can’t remember how long, but I know for at least 5 years or more, PayPal has been my e-commerce system of choice for a number of reasons: Two of those reasons include: its speed of transactions (almost instantaneous) and simplicity of use.
Whether you are buying or selling through PayPal, you should know that it has one of the largest and best systems to detect and prevent fraud. You can read more about it here.
With over 2,000 security specialists, anti-fraud technology and even models for how fraud works, your chances of having your money stolen when purchasing through PayPal is quite low – assuming you have done everything you can to be a “smart” consumer. And this last point is CRITICAL.
Eddie Davis, PayPal’s Senior Director of Merchant Services explained to me that merchants (that includes YOU small businesses) use Paypal for three main reasons: Speed, Trust and Convenience. Check out his interview below, as part of the Smallbiztechnology.com technology leadership video series.
As you grow your business PayPal has a lot of features you or your programmer can leverage. For example, maybe you are selling subscriptions – PayPal can handle that. Maybe you are doing a complex online registration system – PayPal has the tools your programmer can leverage to handle this as well.
You’ll hear in Eddie’s interview that PayPal increases the conversion rate of merchants – turning browsers into buyers.
Since it’s fast, simple and very secure, YOUR buyers will be encouraged to buy from you more, through PayPal, as opposed to using a traditional credit card.
If you’ve never used PayPal, it’s time you try it. If you have only been using PayPal for limited transactions, dig into it a bit more and see what more it can do for your online retail business.
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