For most directories, online payments is very important and brings in the majority of any revenue. With free software like BePro Listings and BePro Cart, this is easy to do with paypal. However, for those interested in converting the most users, you need payment solutions which are convenient for users. We have seen great results with the Stripe payment gateway. This article covers the pros and cons of choosing to add a second payment gateway to your directory
PayPal PAYMENTS
This company arguably started online payments for blogs and small websites. Its still very popular with access to the largest userbase of available payment gateways. BePro Cart provides access to this payment gateway for free. For ebay sellers this is a must have; However, many users require access to this convenient payment gateway.
BePro Cart offers paypal for free. Once configured in the BePro Cart admin settings page, users can checkout using this payment option. This option requires that you have an account with paypal and have configured their paypal api settings.
Stripe PAYMENTS
Stripe is a new popular payment option available for processing credit cards on your website. Its a great white labelled approach to keeping the user on your website and accepting cards from across the world. Research shows that users who stay on your website are less likely to abandon the purchase meaning more revenue for your directory.
To add Stripe payments to your cart, you will need the Stripe addon for BePro Cart. This addon requires that you have an account with stripe.com and enter your api credentials via the BePro Cart admin settings menu. Once installed and configured, the payment option will be available for users when they checkout
PAYMENT CONVERSION RATES
Our research shows that users are choosing Stripe at a higher rate compared to paypal. On the surface, this may seem like a major surprise to some. However, under closer examination, users have grown accustomed to entering their payment details and checking out directly on a vendor’s website.
In addition, in today’s internet, users want results right away. Entering their credit details compared to registering for a 3rd party service is often preferred by users. Even when a user may have a paypal account, the idea of logging in, confirming the credit card is attached, then completing the purchase is often abandoned in favor of on site checkout.
Users have no idea that they are using Stripe, its just simpler. They enter their credit info like any major online merchant and the process is complete. Remember, this option may not provide these results for every industry; However, you should notice it being selected at a rate which covers the cost of the Stripe addon
CONCLUSION
Its within your interest to consider using multiple payment options on your directory website. Utilization of these payment gateways only accrue cost if they are used by customers. This provides the budget conscious with great options. Our research shows that it will increase conversions and pay for itself within a few transactions. At the very least, you will be providing options for users who cannot or wont use PayPal for any number of reasons
