The biggest myth of online payment is that a person has to purchase something from the merchant’s website to make a payment. This is not the case. By shopping on your own, you can get your money instantly through PayPal.
Myth number one, customers want it this way. Many people think that because they prefer to make payments online that they must be a large percentage of their customers.
The truth is that it’s the smallest percentage who really think this way, and they’re not exactly looking for a way to circumvent paying more in shipping costs than what they should. Because these customers are small, it means that the other customers don’t notice them at all.
Myth number two, it’s the only way to make a transaction because the only methods available were based on paper. No longer are credit cards and debit cards the only options.
In fact, online payment systems have made it possible for a customer to pay via email, just as they would do with a local merchant. What’s more, this is a secure way to pay, since the transaction does not go through a third party.
Another common myth about online payment is that this leads to a shopping cart. This is not the case.
The reality is that most websites don’t do it anymore, because it can take up more bandwidth than most businesses need. They will give a very small site with a choice of payment method, and they are ready to work with the customer.
Every business, including those with online stores, has different payment options. It’s just a matter of identifying which one works best for you.
A very common myth is that more money will be sent out to the customer. Again, it depends on how you handle the transaction, and how much money you need to send.
One final myth to bust is that people will always pay with credit cards. This is just not true, because the more convenience of paying with just one type of account the more people will use it.
The consumer wants more options and more advantages. They’re just not going to buy from a business if they’re just going to have to leave the store without making a purchase.
Myth number one is busted. There is no longer a need to find out which ones to avoid.