Paypal Alternative

Whether establishing a new business from the ground up or looking to expand an existing company's global reach, many web-based companies need a way to process credit card payments online. For those new to the card-not-present merchant services landscape, it may seem second nature to rely on a widely known service, such as Paypal, for online payment processing needs. However, doing so can hamstring a new business, leaving it unable to break through the rigid and inflexible world of some payment processing services.

Patricia Carlin Consulting can advise companies on an effective Paypal alternative, working with clients to develop a card-not-present business strategy that connects them with the ideal payment processing platform and provides streamlined and cost-effective service.

Reducing costs

Although some merchants choose to accept payments from Paypal at first, it can become problematic for them as their business grows. That's because Paypal charges merchants a fee per transaction. That fee can add up significantly as businesses begin to accept a higher volume of online payments, quickly increasing the amount of money they're spending to maintain high risk merchant accounts. Additionally, it can be more difficult for merchants to tabulate the costs of shipping when processing payments via Paypal, a reality that may result in lost money in the long run.

Those who seek a Paypal alternative may immediately enjoy the benefits that come with a streamlined payment processing system. In some cases, Patricia Carlin Consulting has been able to reduce the hard and soft costs associated with payment processing between 15 and 40 percent, putting money back in the business owner's pocket.

Encouraging flexibility

While it's praised for being easy to use, some merchants find Paypal's rigid structure frustrating. Consumers can only use Paypal if they sign up with an account, and the system redirects that consumer to Paypal's website for processing. Consumers can be lost during this redirecting process, whether by computer error, confusion with the payment process or frustration stemming from website-hopping. Redirection might also divert a customer from a business website, preventing them from exploring the site further or even completing their transaction after they have made a Paypal account.

Customers and merchants alike have also been frustrated when a transaction is unexpectedly held up by Paypal, and the service can sometimes freeze offshore merchant accounts if they become too active under the reasoning of "suspicious activity." And consumers who don't have a Paypal account or whose account is suspended are also unable to buy anything from a site that lacks a Paypal alternative.

Using a Paypal alternative can eliminate the hassles of website redirection and allow customers to shop and process a payment on a single website. Patricia Carlin Consulting can also advise on payment processing methods that blend seamlessly with a merchant's website, allow them to offer coupons and discounts to their customers easily, avoid payment holdups, act on customer concerns quickly and process payments faster. That makes it easier for merchants to build brand loyalty and keep customers on their site longer.

Growth potential and fraud reduction

A new merchant account can only get so far using standard third-party processing services. Paypal's rigid structure becomes less sustainable as companies grow from start-ups to full-fledged enterprises, and as they begin to process more online transactions, the potential for fraud grows greater. Patricia Carlin Consulting can recommend a Paypal alternative with the sophisticated security protections to reduce fraud. Additionally, the experts at Patricia Carlin Consulting have 14 years of experience in helping companies' payment processing strategies grow alongside their business, and they can help keep a merchant's account on the cutting edge of the latest technologies and trends.