This week I’ve learned how to securely collect payments on my website. Below, I’ve contemplated what turns me off to providing payment to certain websites as well as what makes me more likely to purchase.
I am very wary of who I trust with my payment information. This wasn’t necessarily the case until I had that information stolen for the first time a few years back. Ever since then, reputation has been a critical factor in who I trust with my payment info. Firstly, if a site does not have a secure connection with a valid certificate, there is no way I’m inputting payment info. This can easily be checked by clicking left of the URL in your web browser on the green lock. Secondly, if a website does not have a good reputation like Amazon, Walmart, Bestbuy, etc., then the only way I will consider paying is if they allow me to do so securely through Paypal. Paypal is established, reputable, and secure. I’ve been using Paypal since the early days of eBay in the 2000s. Additionally, Paypal can be used internationally. So the bottom line for me is if it isn’t an established, reputable company or if they don’t collect through Paypal, then that business is going to have a hard time getting me to buy from them. I wouldn’t expect my customers to feel any differently than I do, so I’ll be using Paypal for my website.
So how much does it cost me to use Paypal? Paypal takes 2.9% + $0.30 per transaction for sales within the U.S. International sales have a 4.4% transaction fee plus a fixed fee based on currency received. So if my math is correct, if I sold something for $100 in the U.S., Paypal would charge me $3.20. It seems like a reasonable price to pay to provide customers with a secure way to purchase with any major form of payment. I’d rather get more people who purchase because it’s reputable and pay a small percentage opposed to losing potential customers who won’t pay because they’re wary.