Many people, when they are starting a home business, prefer not to have to deal with accepting credit cards. Unfortunately, the truth is that most people shopping online want to be able to use a credit card to make purchases. Over at My Wife Quit Her Job, the argument for accepting credit cards is made:
Have you ever heard of an ecommerce shop that didn’t accept credit
cards? Early on, we tried to save money by using Paypal as our sole
payment processor. Paypal basically offers 2 different account types.
The first one is their normal Paypal account which is free. They also
offer a business account which allows you to process credit cards
directly from your website. The business account carries a monthly fee
of 30 dollars.
With a free Paypal account, you can also accept credit cards, but
customers are first diverted from your website to the Paypal website
where they enter in their payment information. After providing their
credit card data, they are then redirected back to your site. All of
this redirection confuses customers.
We lost a ton of potential sales early on because no one respected our
store. They were all probably thinking “Why am I being taken away from
the website to a completely different one just to process my payment?”
cards? Early on, we tried to save money by using Paypal as our sole
payment processor. Paypal basically offers 2 different account types.
The first one is their normal Paypal account which is free. They also
offer a business account which allows you to process credit cards
directly from your website. The business account carries a monthly fee
of 30 dollars.
With a free Paypal account, you can also accept credit cards, but
customers are first diverted from your website to the Paypal website
where they enter in their payment information. After providing their
credit card data, they are then redirected back to your site. All of
this redirection confuses customers.
We lost a ton of potential sales early on because no one respected our
store. They were all probably thinking “Why am I being taken away from
the website to a completely different one just to process my payment?”
This is a very good point. Just trying to save on transaction fees or monthly fees while putting larger sales at risk can be a bad home business move.
Do you accept credit cards for your home business?
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