Since it was launched in 2000, PayPal has grown to become one of the most popular online payment methods used across the globe. According to a recent survey, more than 87 million people worldwide use PayPal to conduct various online transactions. Here are some additional advantages of using PayPal in your online store.
One Of The Primary Advantages Of Using Paypal Is The Ease Of Setup
PayPal provides numerous options when it comes to setup and customization. The good news is that you don’t need any coding skills to integrate it onto your site.
Its numerous customization options only require you to copy and paste existing codes onto your site. Within a few minutes you can integrate the buttons and your site will be ready to accept PayPal as a means of payment.
Ease Of Execution
PayPal has been a huge boost to small ecommerce ventures. As you probably know, installing a payment method or gateway into an online business always requires a huge capital investment. Most small businesses don’t have huge amounts of extra capital.
Even if they had that money, using it to integrate a payment gateway would not make financial sense. This is where PayPal comes in. With PayPal, you don’t need to invest significant amounts of resources to receive payments. You will not pay setup fees or even monthly fees like those charged by other service providers.
Specify Payment Preferences
If you integrate PayPal as a means of payment in your store, then you can set up payment receiving preferences. With the “payment receiving preferences” option, you can filter the buyers in your store.
You can also block payments from certain individuals, such as those without a specified address thus adding another layer of protection to your store. Also, you can choose to accept only payments made through a specific currency.
Furthermore, PayPal also allows you to block payments from individuals using certain credit cards which have been associated with fraud or other such activities.
Detailed Transaction Data
Another one of the advantages of using PayPal as a method of payment is that you can use its various tools to download and analyze data concerning all the transactions that have happened. You also have the option of going through your shopping cart details which helps to provide you with more information about your customer base.
PayPal makes it possible to conduct an advanced search to determine details such as email addresses, buyer’s name, transaction ID, item number or receipt ID. All these details help you to maintain an updated record for your store, making your management work easier.
Brand Name And Recognition
Despite the various technological advancements in ecommerce, some people are still hesitant when it comes to buying goods online. However, since PayPal is a recognized brand name, people can confidently use it as a method of payment when purchasing goods or services online.
Also, PayPal protects the buyer and even refunds their accounts with the money spent if the buyer disputes the transaction. Apart from that, PayPal makes sure that the vendor or website owner doesn’t access confidential details about the buyer, thus minimizing issues of fraud.