Thursday, February 5, 2009

14% conversion rate increase with PayPal and BillMeLater

According to a Merchants review report by CyberSource you can get more conversion if you have more payment options.

The reason is simple: the more options for payment you offer your Customers the more likely you are them to buy from you.

As to what extent that is questionable. Also other concerns include availability of Merchant Accounts provided by PayPal and Bill Me Later. Both are services purchased by giant eBay Inc. and currently restrict to US only based merchant Accounts or/and banking relations.

Truth is it`s worth trying to add it to your site as an Add On to credit card processing as you can stop it at any time.

Fees are slightly higher 1.9 to 2.9% of each transactions with PayPal and $0.30 per transaction standard as opposed to $0.35 per Authorization with regular Merchant Acc. providers(bankards).

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