Sharing Daily Discoveries About Personal Finance And Business Topics

A Payment Method Can Be A Sales Factor

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Usually when you go to the store you have the option of paying in cash at most places whereas when it comes to a credit card l lot of smaller businesses opt not to offer it since they would have to incur a transaction fee on each purchase. People are normally okay with this for a corner store as an example. But when it comes to a large business being able to pay with cash, credit or debit is expected.

Now why this got me thinking is because I was reading about these two e-commerce sites where one was doing a lot better than the other. They both sold the same items at virtually the same price and offered credit card payments. So why did people kept buying it from one place versus the other? Apparently one of the factor is the site that got more sales offered things such as PayPal payments. You could be thinking that is a silly reason as you are technically just using a credit card for the most part. But apparently there are many who feel more secure using that versus entering their own credit card number on a site.

Would that ever actually cross your mind? It makes sense in a lot of ways for an online environment too. But it shows you how a simple payment method can help make you stand out to attract sales over other companies.


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