When running a business, especially online, it is easy to accept PayPal and nothing else. While PayPal is an excellent provider with a proven track record, an entrepreneur can’t limit him or herself. Otherwise, the company will face a few minor public relations issues down the road. With this in mind, here are four reasons why a business owner needs to accept payments through other means than PayPal.
Cheaper: If one searches long enough, they can find a lower price to accept credit card payments. When a website accepts thousands of dollars in payments a month, it will save plenty of cash when using a credit card processing provider. Since a merchant services provider can work with the business owner on his or her terms, one can save hundreds of dollars a year in merchant fees.
Overseas: Often, an overseas client will not use PayPal. When encountering this issue, a potential customer will take his or her business to another place. Fortunately, with a credit card processing account, a website owner can receive payments with little effort. Since people outside of the United States usually use other payment providers, it is wise to give customers choices.
Trust: With a quick Google search, an Internet user can discover that PayPal doesn’t always please customers and offer the highest level of support. In fact, in the past, PayPal was sued after the organization froze customer’s accounts and held their money for a long time. To avoid issues, a smart entrepreneur needs to open a merchant account as he or she can avoid this all-too-common problem.
Professional: Let’s face it, when trying to impress potential customers, one will face an uphill battle when using PayPal. Instead, with a credit card processing account from a third-party provider, one can impress visitors and show off their website. With other solutions, a company owner can show off his or her website, in detail. Since third-party providers offer options PayPal can’t, one can create an inviting payment setup. As a business grows, it is crucial to provide a professional appearance as Internet users are often finicky when they don’t trust a company.
When running a business, don’t rely solely on PayPal. Instead, with a wise approach, one can find multiple payment solution providers and help the long-term viability of their company.