Comments on: Too MANY Payment Options? http://imamerchant.org/blog/too-many-payment-options/ Internet Merchants Association Blog - Thoughts and ideas from our IMA members for online sellers. Wed, 07 Jan 2009 01:50:36 +0000 http://wordpress.org/?v=2.1 By: Charlie http://imamerchant.org/blog/too-many-payment-options/#comment-81 Charlie Wed, 30 Jul 2008 17:50:01 +0000 http://imamerchant.org/blog/too-many-payment-options/#comment-81 That is a point I had not considered. By having an incentive for all payments to be made through one service and ultimately receiving compensation for that through reduced fees you may be better off only using one payment processor. Food for thought indeed! Charlie That is a point I had not considered. By having an incentive for all payments to be made through one service and ultimately receiving compensation for that through reduced fees you may be better off only using one payment processor.

Food for thought indeed!

Charlie

]]> By: Sun http://imamerchant.org/blog/too-many-payment-options/#comment-84 Sun Wed, 30 Jul 2008 23:49:51 +0000 http://imamerchant.org/blog/too-many-payment-options/#comment-84 I only see benefit in offering additional payment methods. Its about removing the barriers between you and the customer, not adding barriers that reduce the possibility of a sale. If you're teetering between the next fee discount tier and the current, it might make sense to exclude a specific payment option. I haven't reached $100,000 a month on Paypal yet, but maybe some day. Until, I don't mind spreading it out across various payment methods. I only see benefit in offering additional payment methods. Its about removing the barriers between you and the customer, not adding barriers that reduce the possibility of a sale. If you’re teetering between the next fee discount tier and the current, it might make sense to exclude a specific payment option. I haven’t reached $100,000 a month on Paypal yet, but maybe some day. Until, I don’t mind spreading it out across various payment methods.

]]> By: Cathy http://imamerchant.org/blog/too-many-payment-options/#comment-85 Cathy Thu, 31 Jul 2008 04:51:21 +0000 http://imamerchant.org/blog/too-many-payment-options/#comment-85 I dont know if I agree. I find that customers are loyal to "their" payment method. If you cut one payment option out, you might find you could lose 25% of your business. I am going to give Amazon checkout a try but it could be awhile before my shopping cart offers this option. I dont know if I agree. I find that customers are loyal to “their” payment method. If you cut one payment option out, you might find you could lose 25% of your business. I am going to give Amazon checkout a try but it could be awhile before my shopping cart offers this option.

]]> By: Cyn http://imamerchant.org/blog/too-many-payment-options/#comment-86 Cyn Thu, 31 Jul 2008 12:50:28 +0000 http://imamerchant.org/blog/too-many-payment-options/#comment-86 I think as long as you have a merchant account for customers to pay with their credit card you're going to lose very little business. Most people don't expect to find Paypal or Google Checkout or Amazon Checkout on a website not related some way to that payment method. Sure, it might be convenient for the customer to pay with their Paypal account, but I doubt most folks would NOT buy something they wanted because you didn't offer Paypal. Now I have had customers NOT buy something because ALL I offered was Paypal. The Merchant Account is what people expect to find, any additional payment methods are just gravy. Cyn I think as long as you have a merchant account for customers to pay with their credit card you’re going to lose very little business. Most people don’t expect to find Paypal or Google Checkout or Amazon Checkout on a website not related some way to that payment method. Sure, it might be convenient for the customer to pay with their Paypal account, but I doubt most folks would NOT buy something they wanted because you didn’t offer Paypal. Now I have had customers NOT buy something because ALL I offered was Paypal. The Merchant Account is what people expect to find, any additional payment methods are just gravy.

Cyn

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