This will cover the basics of adding new checkout options to your store.
I’ve had a few customers contact me since opening my store, saying that for some reason or another they don’t like using PayPal or that it’s just not available in their country.
Obviously I still want these customers to be able to purchase my products, so even though I’m not sure why they can’t or won’t use PayPal, I need them to be able to checkout. So I got to wondering what I could do about that …
For this web series, I’ll be adding some extra checkout options to my store to give my customers more ways to complete their orders.
What Can I Do About It?
Thankfully, PayPal isn’t the only game in town, even though it’s arguably the most recognised. To allow for maximum conversions, I need to add more payment options at the end of my checkout process. That way, people happy with PayPal can still use it and the rest can use another option.
I’ve decided to use Stripe as my alternative option. They offer really good rates, and the checkout process itself is super slick - there’s not even any redirection to another page. An overlay appears on top of my store prompting the customer for their card details and that’s it. Looks great on any device too, so I’m confident this is the one I want to go for.
Fewer clicks to checkout is always great and should result in more conversions and less Abandoned Carts. Seems like a win-win to me!
Switching the checkout on is pretty simple. It’s listed right along with other payment providers like Worldpay, Authorize.Net and of course PayPal. I just click a button to authorize the creation and linking of my Stripe account and it’s done. I get an email from Stripe later telling me how to login to my account and access any funds I receive there. It doesn’t get much simpler than that.
All payment providers charge transaction fees, it’s just the way it goes. It’s the price we pay as store owners for all the security and encryption they implement, and the existing confidence that our customers have in them. Some are better than others though, so it’s good to shop around. You can also talk to the various providers and try to negotiate lower rates, depending on the number of transactions you put through.
For me, the transaction fees with Stripe end up at around 1% less than PayPal’s, which means I get to keep more of my payments. It differs depending on your location, but for me that’s pretty awesome!
I have a couple of customers who actually live locally, and like to collect their merchandise rather than pay for shipping. Makes sense when they’re only around the corner, and can also pay me cash or check. For them, I’ve created an Offline Payment method called simply “Collection Only”. This means they can place their order, I’ll get a notification about it and prepare, and we can sort out the payment when they come to collect it. No transaction fees with those orders too ;)
So now when a customer gets to the end of my Checkout, they can choose right there whether they want to checkout with PayPal or Stripe if they prefer. They’re more likely to choose the one they already have an account with, but now they aren’t forced to use a single provider if they don’t want. The more options they have the better, so I may look at adding extra checkouts in future.