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Full Version: Why to use Paypal?
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If I had asked anybody about the payment processor that which one should I choose when in case of selling some e-product. Most of them have referred me to Paypal. Why this is so? I have found many payment processors which gives far more benefits then it in much lower cost.
When it comes to money. People will go the services whom they trust the most. Its all about trust. Paypal is one of the most oldest and trusted payment processor in the world, so people will refer it the most no matter what benefits do they get from other services.
Paypal is well accepted in most of the countries as payment gateway. And also it is the most trusted and oldest.
PayPal is an online payment gateway used for online money transactions and for online shopping. It is also used to request money online.
Paypal is the standard. Whether we like it or not, Paypal is the de-facto, it’s what everyone uses, everyone has an account and everyone knows how the system works. Okay, not “everyone” who is online uses Paypal, but chances are if a person has made an online purchase before they know what Paypal is and how it works. The awareness factor is only going to increase as more people become comfortable with online shopping.


People treat their Paypal accounts like play money. Initially I was frustrated that Paypal kept my money in a “paypal account” and I had to withdraw the money before I could see it in my bank account. This was one of my original complaints in the Paypal Vs Paymate debate. Paymate deposits my money directly into my bank account (minus fees) while Paypal pools my money in a virtual account where it gains no interest and runs the risk of being frozen, as so many Paypal horror story victims recount. I thought this was a bad thing.

Now I realize this is actually a genius move by Paypal. People leave money in their Paypal account so they can use it to buy things online. That’s why they treat it as “play money”. It’s great psychology – since the money doesn’t show up in a bank account or on a credit card bill once you spend it online it feels like you are not spending real money. You might think I am foolish saying this and you may value your Paypal just as high as any money, but the fact is a lot of online consumers don’t look at their Paypal balance the same way as their bank balance. Your business has to accept Paypal “play money” because it psychologically reduces buying barriers.


EBay creates Paypal dependent consumers. The most common form of online commerce is eBay. Many thousands of people are first introduced to buying and selling on the Web thanks to the miracle that is EBay, either by selling or buying something at auction or under a “buy it now” purchase. As we all know Paypal is well integrated with eBay and many first time eBay users will very quickly become first time Paypal users as well. It’s very likely they will keep a balance in Paypal purely as “auction money” that they spend at eBay. This process is where they first experience the “play money” psychology and at some point in the future when an eBay user decides to buy outside of eBay, they will feel very comfortable using Paypal, yet they may consider using their credit card not safe. In that case if you don’t have Paypal as an option, you potentially lose the sale.

Visit entrepreneurs website to find out why they prefer paypal as a medium of payment. But as what they say its just an option its still your choice.
I most people use it as its reliable and trustworthy.
Thanks for the info guys.