Role of user experience to maximizing PayPal revenue
As a Shopify store owner, it is frustrating to get visitors on your website and struggle to convert them into buyers. There are many reasons for low conversion rates on Shopify stores: Confusing product pages, complex check-out process, hard to find payment buttons or just poor layout design.
When buyers struggle to find the right products at the right time with the right store experience, they simply abandon their purchase journey and find another store with an optimized experience.
A smooth user experience supported by a great user interface keeps your customers coming back for repeat purchases. It helps your customers make faster decisions, so they can quickly buy what they really want. With an optimized check-out process that's quick, easy and seamless, you'll maximize your PayPal revenue faster.
In this article we'll show you how to maximize your PayPal revenue, boost customer satisfaction and receive payments faster.
As one of the best known international payment providers, PayPal is a great option for easy check-outs and comes with a bunch of perks that make payment decisions for your customers easier.
1. Add PayPal 1-click checkout to product pages
To give your customers a satisfying shopping experience, reducing the time of the payment flow is crucial. The fewer steps a customer has to take, the more likely they are to buy.
Studies show that 50% of potential buyers abandon the cart when they face friction. The friction can be in the form of either hidden fees (such as omitted shipping costs), a lengthy checkout process or the inability to checkout faster without creating a new account.
With PayPal 1-Click Check-Out you eliminate these problems altogether. In just one step, customers can complete their order without having to sign up or enter new data. It’s quick, efficient and seamless.
2. Add trust badges that include PayPal
Trust badges help build trust with your customers so that they have less hesitation to buy from you. A PayPal verified trust badge means that your shop is a trusted partner of PayPal and has been verified by them.
It also means that the data of your customers is safe and stored via an SSL method, preventing data leaks or unsolicited sale of customer data to third-parties. It's a sophisticated system that makes sure that your customers' identity is protected, and all payments adhere to strict guidelines.
Vendors with a Shopify Store can buy PayPal Security Protection which includes 24/7 monitoring, fraud prevention, data encryption, dispute resolution covering global transactions in over 202 countries and 25 currencies.
3. Add PayPal Credit / financing as an option for high ticket purchases
Most people don't know that PayPal also offers a credit option for your customers that allows them to finance any purchase over $99. If paid in full within 6 months, no fees have to be paid. Your customers just have to fill in an application to be considered. This is a great way to sell even higher priced items with ease and boost your PayPal revenue
PayPal also offers your customers a Payment Security as part of this service (to be paid extra), in case of emergency, to cover the minimum payments of each month and up to $10.000 US. There are some restrictions to this, and it only applies for certain events, but nonetheless is a valuable addition, if your customers want that added peace of mind.
4. Add shipping Info to PayPal for all orders
To get your funds released on time, prevent chargebacks and prevent PayPal from holding your money, you need to update the shipping info of each order in a reasonable timeframe. When an order is placed via your Shopify store, the shipping info has to be added manually to PayPal.
With a significant order volume, it takes up too much time on the backend to do this manually. With PayPal order sync apps like TrackiPal, your orders sync automatically to PayPal without any manual intervention.
TrackiPal works in real-time and is fully automated. PayPal order syncing apps like TrackiPal take away the time-consuming process of manually entering each order info, so you can focus on running your business. This ensures that PayPal lowers your rolling account reserve and release your funds up to 10X faster.
5. Respond to PayPal disputes faster to build reputation
If a customer doesn't receive an order on time, they can raise a dispute with PayPal. PayPal will then block the payment to your store, which is called a dispute or a chargeback request. Depending on the complexity of your dispute, PayPal will ask you to submit all relevant information to them within a reasonable timeframe to resolve such disputes.
Here’s how it works. When there's an increase in sales or in disputes and chargebacks, PayPal will pay your payments for up to 21 days to comply with their buyer protection policy. By adding tracking info to PayPal, you can access your funds faster, and even prevent chargebacks
Through PayPal Seller Protection, a percentage of your revenue is held as “account reserve”. Depending on the evaluation of your shop account by PayPal's security team, this reserve can be kept for up to 90 days. The best way to reduce the “account reserve” amount, and the time your funds are frozen by PayPal, is to update order tracking information with PayPal.
TrackiPal does the synchronization automatically, so you don’t have to do it manually.