Offering payment options is an important aspect to be considered after setting up a web hosting business. I would like to have a feedback from people who have experience in the web hosting business. How many payment options should be provided to the customers? Is PayPal enough? Or other payment options should also be considered?
In my opinion, PayPal is not enough. People prefer paying through many mediums like debit card, credit card, bank transfers etc. It is important for a global company to offer all these payment methods.
There should be multiple payment options for the customer. This would help you to convert many customers. A company may lose the customer if they don't accept credit/debit card payments. If you are running an online business, you should have maximum payment options like - PayPal, Credit/Debit Cards, Net banking, Wire Transfer and Cheque.
The success of your online business endeavor is dependent on sales. There is no point in deliberately decreasing your sales potential by restricting the ways in which the potential customers can pay for your products or services online. Offer all the payment options that your competitors are offering.
I think for a startup, you can manage with PayPal and net banking for the start and later you can provide with more payment gateways. What do you think guys?
PayPal is a payment gateway that is accepted all over the world. If you have PayPal, you are better off. I guess PayPal and net banking should be fine for a startup. However, with time you should plan on introducing more payment options to keep pace with the competition.
I agree! The competition is fierce in every industry. It is true that by providing more payment gateways you can make the customers feel comfortable and thereby attract more customers.
When it comes to online payment, every customer sees his / her own convenience. In the absence of some payment gateways, the customers might drop the decision of buying from your website.
Well, I always look for the option of paying through debit card, if that option is not there, I don't buy from that website.
Quote from: Kavya on July 03, 2015, 02:02:46 PM
Well, I always look for the option of paying through debit card, if that option is not there, I don't buy from that website.
See! That's what I am talking about! People will not buy from an online store if they don't find the preferred option. Just like you Kavya, my preferred option is credit card.
WOW!! That's really true! I shop from the online shopping websites specific to my country because I prefer online bank transfer when it comes to payment.