After just 100 months in the payments platform business, PayPal had already amassed 133 million users and more merchants than Visa, MasterCard and American Express put together (according to Chris Skinner, CEO of Balatro and chairman of the Financial Services Club). This was way back in 2007. Some stats have shown that PayPal is the preferred mode of payment boasting figures anywhere from 5% to 23% of the total number of online shoppers polled. The figures are impressive indeed.
In this article, we will look at why a growing horde of online shoppers choose PayPal and why merchants insist on PayPal shopping cart software integration in their ecommerce solution.
Most paid ecommerce solutions currently come ready with PayPal shopping cart software integration. It can be said that Pay Pal shopping cart software integration is now a standard option in such solutions and the reasons are obvious. The PayPal brand has grown by leaps and bound over the years and even people who do not use it know what it is. This has even prompted new solutions to aggressively promote their Pay Pal shopping cart features.
For shoppers, PayPal offers features that blend the convenience of credit cards with added assurance in terms of security and other useful functions. Below are 3 reasons why shoppers are increasingly warming up to PayPal:
Security
The sharing of bank or credit card information is a sensitive issue when it comes to online shopping even with all the security measures that are in place. This is where PayPal differs from other online payment methods like credit cards. When a shopper uses PayPal, he or she does not need to divulge bank or credit card information to retail sites. Together with the latest anti-fraud technology, PayPal offers a very secure way to financially transact over the Internet.
Gain Credit Card Points
Reward points are a big deal to credit card users especially those who frequently travel around the globe garnering frequent flier miles along the way. Shoppers need not worry about reward points when paying with their credit cards via PayPal. Shoppers can be assured that they will still be entitled to points, cash back promotions as well as flier miles.
Multiple Uses
Having a PayPal account means more than just a convenient way to pay for online shopping. It is also a fantastic means to receive payments and transfer funds. In fact, users can transfer funds via a very common communication tool – email. Sending money to kids at college abroad or payment for services or even making online donations has never been easier.
PayPal is more than just a payment method, it is also a convenient alternative for transferring funds safely and quickly over the Internet. For merchants, having the PayPal shopping cart software feature available at their stores is practically a must.
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