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Am I sacrificing a lot of profit by just accepting paypal?

Discussion in 'Affiliate Programs' started by JJohn, Feb 4, 2010.

  1. JJohn

    JJohn Newbie

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    I started a new site with a product that I promote on CG and Facebook...the problem is Im only using paypal as method of payment.
    Am I losing many sales because of that? My product costs around $20. Should I absolutely implement a CC merchant? Or is there enough ppl with paypal account?
     
  2. kayzne

    kayzne Jr. VIP Jr. VIP Premium Member

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  3. Brotato

    Brotato Regular Member

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    yes you may be but when you think about it not many people really use other sites other than paypal so you could be losing money if you steer away from paypal also.
     
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  4. wseo12

    wseo12 Regular Member

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    i would not use paypal if i were you they tend to hold there merchants funds they owe me $2000 and will not give it to me for 6 months and what i am doing is white hat i have not done anything wrong there is a website dedicated and talking about how much paypal sucks apparentely most of there sellers feel the same way as i do if you want to make a smart decsion get a real merchant account and be carfull who you pick
     
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  5. dukeofism

    dukeofism Junior Member

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    If you are not running into problems where they are withholding your money, you arent loving to much. I believe they sometimes charge a fee in the range of 2 to 5%. Not that big of a deal. To me it seems like it would be more difficult to get a merchant account with a CC company.
     
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  6. pyronaut

    pyronaut Executive VIP

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    You would probably be losing money if you switched to CC only. Depending on the demographic, some people only have a paypal.
     
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  7. auggie101

    auggie101 BANNED BANNED

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    hmmm... wether we like it or not paypal dominate the online money system.. you would lose more if you avoid paypal... there is guide here in bhw that help you how to use paypal properly and skip the horrible problems that you may encounter while using paypal.. :D
     
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  8. cheap2art

    cheap2art BANNED BANNED

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    u should accepting creditcard payment online and local bank transfer.... ;)
     
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  9. freller

    freller Regular Member

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    PayPal are just like any other payment gateway and so the same problems apply whoever you pick - it's just that PayPal tend to be a bit quick on the draw compared with most others.

    It depends how you present PayPal to the end buyer. If you just have a big button that says 'PayPal' then you probably will lose sales, but if you use the one that shows all the card providers AND PayPal then you probably won't lose anything.

    I've had PayPal withhold funds in the early days when I did too much turnover for their comfort, but only for a few weeks and then all was OK, and we're talking over $50K a time, so it wasn't small beer. And if you think PayPal are bad try some other merchant services - believe me, PayPal are way far from the worst.
     
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