It should go without saying that payments remain a critical element of your overall eCommerce strategy. How can you avoid the risk of credit card fraud? Is it possible to streamline the checkout process to encourage more conversions? Wouldn’t it be great if you could deliver a more enhanced online experience to your customers?
PayPal remains a widely used, acceptable, and excellent choice for your Magento eCommerce website. However, just because PayPal offers a workable solution out of the box, doesn’t mean you can’t refine and enhance it to better meet the needs of your business and customers.
Here are some of the most effective PayPal solutions for your Magento eCommerce website.
Today’s online consumer loves to be able to act fast. Another way to look at it is: customers are more likely to leave your site if they experience a slow and cumbersome checkout process. PayPal Express Checkout offers a quick-and-easy payment solution designed to increase conversions by appeasing the finicky 21st century consumer. Certain independent studies have determined that using PayPal Express Checkout can result in a checkout process that’s 3 times faster than when Express Checkout is not used.
In case you weren’t aware, Braintree is a company of PayPal. It just so happens that Braintree and Magento have joined forces specifically to develop a powerful extension for merchants who are concerned with reducing the risk of fraud. This new Braintree Extension also speeds up the checkout process and delivers a pretty attractive customer experience. It gives merchants the flexibility to manage day-to-day issues like exchanges and errors over the phone, without the need for requesting the customer’s sensitive credit card information multiple times.
Braintree gives merchants the power to accept credit and debit card payments globally without fear of fraud, thanks to the state-of-the-art-managed fraud protection of Kount. Kount is an all-in-one fraud and risk management solution that’s solidified itself as a leader in the industry.
Another feature of Braintree is the ability to securely tokenize credit card information via the PCI-compliant vault. This helps you offer lightning-speed checkouts by preventing returning customers from having to reenter their information for subsequent purchases on your site.
PayPal also offers its own variety of PCI-complaint solutions, including:
PayPal Payments Advanced (Including Express Checkout)
This is an ideal choice for merchants looking to create a more customized experienced.
This package gives you every single benefit of a merchant account, as well as a payment gateway, all wrapped into one interface. Also, with this PayPal Payments Pro option, you have the ability to create a fully customizable checkout experience to suit your audience.
This is, well, the standard. It’s proven to be the easiest way to accept payments online. For businesses, this means offering your customers the option to pay by credit card or PayPal. All you have to do is add a checkout button (offered by PayPal) to your site.
During the checkout process, your customers will click on that button and will be directed to PayPal to complete the checkout process. This is a cost-friendly option for businesses, as there are no monthly charges to set up the account. However, many businesses are not comfortable sending customers off-site, which is why they tend to choose other options that PayPal offers.
There is no one-size-fits-all solution to your payment needs. Each business is unique as are the customers these businesses service. The most effective way to discover the ideal PayPal solution for your Magento website is to talk with Magento specialists, like the team at Commerce Pundit. We’ll help you choose and implement the most effective PayPal solution to increase conversions and customer satisfaction.
Contact us today to learn more!