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Magento Bill Me Later by Paypal

Paypal Bill Me Later for Magento Configuration and Optimization

Boost your sales by 20% when you offer financing with Bill Me Later from PayPal1

Guarantee a boost in sales by adding financing to your store. A recent PayPal study involving 118 online merchants revealed that those who added Bill Me Later promotional financing banners had a 20% lift in overall sales1 – overall sales, not just PayPal sales. A Forrester Research study also showed the following:

  • 5.7% – Offering financing options has resulted in a 5.7% sales lift over a three year period3 mainly due to:
  • 43% of all Bill Me Later sales were incremental – they wouldn’t have occurred without financing3.
  • 75% higher AOV for Bill Me Later orders (as compared to non-financed orders) – so customers aren’t just buying more often, they are making larger purchases too3.

How it works for you:

Your customers get 6 months to pay

By checking out with PayPal and using Bill Me Later your customers can get up to 6 months financing on purchase of $99 and over3.

There is no change in how you get paid.

The full purchase amount, minus the usual PayPal transaction fee, will be deposited in your account within minutes of the transaction’s completion.

No Billing, Collecting or Risk.

Everything is handled by PayPal – you don’t need to send out bills or chase debtors. And should your customer default your account will be safe from any liability, fees or penalties.

Free Banners:

All you need to do is to choose which of the free Bill Me Later banners you want us to use. To maximize their impact we’ll display your chosen PayPal Bill Me Later banners in conspicuous places so your customers know early and often that they can finance purchases.

  • On your home page to inform the customer that they can finance purchases.
  • On product pages to encourage larger purchases and boost AOV.
  • On the checkout page to close the deal.
Paypal Bill Me Later for Magento Configuration and Optimization
Paypal Bill Me Later for Magento Configuration and Optimization

How it works for your customer:

It couldn’t be simpler for your customers to take advantage of financing.

  1. Choose Bill Me Later payment option
  2. Provide birthday and last four digits of their SSN – and accept terms and conditions
  3. Wait for a bill in the mail

Once their purchases are completed the customer will receive an email from PayPal with instructions on how to login to their PayPal account where they can manage and view their statements.

*Special price only available for Merchants with PayPal modules already configured. For more information regarding adding PayPal to your Magento eCommerce site please visit Hara Partners PayPal for Magento Set-up Package. For more on this topic: Bill Me Later – Hara Partners Blog

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1Based on a comparable year-over-year online sales of 118 merchants who used Bill Me Later promotional financing banners starting in Oct’12 (PayPal study, 11/12-12/12)
2Billl Me Later is subject to consumer credit approval, as determined by the lender, WebBank, Salt Lake City, Utah.
3Forrester Research, Total Economic Impact (TEI) of PayPal Express Checkout for Web and Mobile, 2012.

 

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