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PayPal for Magento Configurations and Options

PayPal Configuration and Optimization for Magento – Hara Partners

PayPal For Magento

PayPal is the world’s favorite and most trusted way to make online payments. PayPal has over 110 million active accounts in 190 markets worldwide, is always free for your customers and can currently process payments in 25 currencies. Additionally, PayPal with their automated fraud screening and Seller Protection Policies is a leader in antifraud technologies and a recognized trust symbol so it’s no wonder that companies found that by adding PayPal to their Magento sites that could have an average sales increase of 18%1.

Magento PayPal Configuration
– by Hara Partners

Hara Partners has extensive experience in Magento PayPal set-ups, optimizations and configurations. Our PayPal for Magento Set-up Package includes:

  • Best practices and strategic planning – for increased ROI
  • Configuration of the Magento PayPal module(s)
  • Design, branding and integration for seamless UI/UX
  • Enrollment in PayPal stores for increased website exposure.
PayPal Configuration and Optimization for Magento – Hara Partners
PayPal Configuration and Optimization for Magento – Hara Partners

Advanced Features

Per industry reports and 3rd party research studies:

  • PayPal users were more than twice as likely to complete the purchase and check out processes than shoppers who used other checkout or payment options.4
  • Over a 3 year period the ROI for PayPal properties was 726%, with a 4 month payback period.5
  • Incremental Web Sales: 25% of all web sales completed with Express Checkout were incremental – resulting in $5.9 million in incremental gross margin over three years. Offering PayPal opens the merchant to a new pool of potential customers who prefer paying with PayPal, plus conversion is higher due to the ease of checkout.5
  • Nearly 75% of Americans equate “digital wallets” with PayPal.2
  • PayPal is used by 48% of digital wallet users – a whopping 600% more than its nearest competitor.2
  • One in two online consumers will use a digital wallet in the coming years.2
  • Forrester Research: 72% of American online consumers have a PayPal account.3
  • Higher average order value: Purchases made with Magento Bill Me Later had a 75% higher average order value (AOV) compared overall AOV ($175 vs. $100.)5
  • 43% of Magento Bill Me Later sales were incremental to the merchant.5
  • Mobile Sales: 35% of mobile sales were incremental – equating to a 12.3% sales lift on a merchant’s total mobile sales over three years – or $1.3 million dollars.5
  • Association with the PayPal brand strengthened merchant branding.5
  • Merchants interviewed saw no decrease in branded credit card use even though PayPal credit card use grew.5
  • Lower transaction costs: Purchases made with PayPal on Magento and elsewhere incurred lower transaction costs than those that were made with major credit cards.5
PayPal Configuration and Optimization for Magento – Hara Partners
PayPal Configuration and Optimization for Magento – Hara Partners

Various PayPal Properties

 

PayPal Access: (Magento Go only)

Offer your customers a streamlined registration and checkout process by providing customer information directly from their PayPal account:
  • Quicker sales completion process via PayPal Access button on website header
  • PayPal button added to log-in, register and checkout pages
  • Access to 100 million PayPal account holders + enhanced merchant credibility

PayPal Payflow – Payment Gateways

The quickest way to start accepting payments on your Magento website, PayPal payment gateway is a secure, and easy way to allow your customers to pay with credit and debit cards; includes Express Checkout functionality.

  • PayFlow Pro: Connects your merchant account to a fully customizable gateway that lets customers pay by credit card without leaving your site. A PayPal business account is required for this solution.
  • PayFlow Link: A hosted payment gateway solution with an embedded checkout that keeps customers on your site – the most simple payment processing solution available.

PayPal Payments

All-in-one payment solutions designed to fit the needs of growing businesses. PayPal Payments all-in-one solutions are available in three tiers;

Standard

($0/month):

With PayPal Payments Standard a PayPal button is added to your checkout page allowing your customers to pay via credit card, or their PayPal account. Customers will be routed to PayPal.com for the payment part of the transaction

Advanced

($5/month, requires Merchant Business Account):

Allows your customers to pay by credit or debit card without having to leave your site via a fully customizable, imbedded checkout page. Includes the Express Checkout functionality for those customer who prefer the implied security of a digital wallet.

Pro

($30/month, requires Merchant Business Account):

All the benefits of a merchant account and payment gateway in one, plus the same customizable, imbedded checkout page as Payments Advanced. Also includes Express Checkout, as well as the ability to accept orders directly through your admin panel with virtual terminal technology.

Express Checkout

The standard PayPal property, express checkout allows customers to complete the buying process with their PayPal account. Adding Express Checkout to your Magento site allows you to add the familiar PayPal button to your website, which has been shown to increase sales up to 26%.6 With Express Checkout you customers will have two checkout options:

  • 1: During the order process, before order completion your customers are routed to Paypal.com. All payment, customer and shipping information is automatically ported from PayPal into your store – hence “express” checkout.
  • 2: Similar to the Payments Standard option below, the customer would complete his transaction on your site (all customer and shipping information must be entered as usual) and once the order is completed proceeds to PayPal to make the payment.
PayPal Configuration and Optimization for Magento – Hara Partners
PayPal Configuration and Optimization for Magento – Hara Partners

Bill Me Later

With Magento Bill Me Later you can now offer your customers the convenience of financing without any changes to how you get paid. All the financing is handled by PayPal and their banks – you still get paid immediately just like always. And adding financing to your site can add up to big dividends, in fact, industry studies have shown that not only were 43% of Bill Me Later sales were incremental to the merchant, but that purchases made with Bill Me Later had a 75% higher AOV as well.5 If you already have PayPal enabled on your Magento website but just want to add Bill Me Later please visit our dedicated Bill Me Later page.

 

PayPal Here:

Expand your capabilities offline by turning any Android or iOS web-enabled device into a full terminal, including Magento backend access, with PayPal Here mobile credit card reader and the free PayPal Here app.

 

 

PayPal Mobile:

Add Express Checkout functionality to any mobile site and gain access to the rapidly growing mobile users segment. In a recent study of mobile sales researchers found that 35% of mobile sales were incremental – equating to a 12.3% sales lift on a merchant’s total mobile sales over three years – or $1.3 million dollars.5

 

Merchant FAQ’s (PayPal for Magento)

How much does it cost to open a PayPal Business Account?
It’s free to sign up for an account. For most products, PayPal merchant account fees only apply to the transaction—which means you only start paying when you start selling. Advanced products like PayPal Payments Pro and Virtual Terminal have a monthly fee.

I’ve seen lower rates elsewhere. Why should I choose PayPal?
It’s important to look at the TOTAL cost of processing credit cards. Other companies often publish discounted “show” rates, but you still get hit with cancellation charges, extra fees for accepting reward cards and corporate cards, and so on. We’re upfront with you about all our fees.

Will my customers pay any fees?
No. It’s free to pay with PayPal for domestic purchases. Fees apply to international buyers to cover cross-border charges and fees from foreign banks.

Do I qualify for a discount?
It’s worth finding out. Businesses often save money with our lower rates. Discounts apply to businesses with larger sales volumes or smaller transactions and to registered nonprofits.

Does it cost extra to sell internationally?
Yes. In addition to PayPal merchant fees, there is a cross-border fee and currency conversion fee.

How do I configure Paypal in Magento?
While we cannot answer every scenario, read up on our blog on not the Magento Paypal Integration is configured.

To begin using the power of PayPal today simply contact us using the form to your right. For more information regarding how Hara Partners can make technology work for you please contact us.

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