Is paypal good for ebook payments?

Is paypal good for ebook payments?

Discussion in 'E-Commerce & Payment Systems' started by KeralMTG, Jul 30, 2016.

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  1. KeralMTG

    KeralMTG Active Member

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    Hi friends. I am wanting to know if you think paypal is the best choice for payments for selling ebooks? I have been looking at some that I might want to sell but don't know if paypal is the best for this or if there is something better.

    The prices will only be a few dollars so I do not want to pay too much for fees. I appreciate your help with this because I can not find good information in google.
     
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  2. ProfMike

    ProfMike Active Member

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    Yes in my opinion PayPal is the best, most well recognized, and secure way to accept payments from your customers for your eBooks.

    PayPal does have some small fees associated with it but those fees are more than made up for in the security that they offer your users while they make their payments. I have been using PayPal for over 10 years and it is a great service. It is easy to use very reliable and has pretty good customer support if you need that. I have only had to use their customer support one time but the matter was resolved quickly and accurately.

    But the more important aspect is the confidence they give your customer while using their service. PayPal is a well recognized and well respected payment gateway. Others have tried to compete but PayPal is still number one. They secure the customer payment information and it never leaves their control. You as a business never see what the customer used to make the payment. You receive the payment, almost instantly, but as far as the customer information, credit card number, bank account number, etc, you never have access to that information. I like that much better and I am certain my customers like that much better. After all making purchases on line can be a pretty scary thing in this day of hacking and the better the information is secured the better it is for my customers.
     
  3. KeralMTG

    KeralMTG Active Member

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    Thank you @ProfMike for that answer. I was just wondering if paypal will take too much money if the payments are only a few US dollars each? I did not know if something is better for cheap sales because of paypal fees.
    I want secure payments for the customers but also low fees for cheap products. Paypal is still good for these low price sales?
     
  4. ProfMike

    ProfMike Active Member

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    I would stick with PayPal it is a well tested and secure system that most people are already aware of. The visibility and the security are the biggest selling points for me. The fact that it is well recognized by most of your users and the security they employ for both you and your customers is well worth the small fees charged.

    An example of a fee that I pay is on a $2.00 item the fee works out to be .36 cents. As the item value increases the fee goes down, for instance on a $15.00 item, which many of my courses run in that range, the fee is .74 cents.

    So in my opinion, the fees are not bad considering the security and service I receive.
     
  5. KeralMTG

    KeralMTG Active Member

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    Ok, thank you for the reply. I guess the security and trust is good for buyers to be more likely to trust their purchase if it is paypal.

    I did not think about that but because people will trust paypal then I will probably get more sales because of it and make more money overall. I was only thinking of processing fees and not that the trust will help sell more, thanks for bringing that to my mind.
     
  6. ulterios

    ulterios Well-Known Member

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    Paypal is the way to go for this. You can get setup with their "Micropayments" and then that will also lower your fees for items that are low cost. It would be $.15 for a two dollar payment. Their fees on this payment system are $.05 + 5% so it works well for items that are under $10.

    Good Luck. ;)
     
  7. LLRhodes

    LLRhodes Member

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    You can also increase the prices slightly to cover most of PayPal fees especially if you are going to be absorbing the fees for converting USD into your currency.
    Say from $2 to $2.75.

    You might want to check how much they will charge for converting currency and keep in mind that this may fluctuate.
     
  8. KeralMTG

    KeralMTG Active Member

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    That sounds good but how can I get that setup? Is there somewhere in the settings?
     
  9. KeralMTG

    KeralMTG Active Member

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    Do you think if I increase the price it will sell less? I do not know if people will think the price is cheaper another place.
     
  10. LLRhodes

    LLRhodes Member

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    Hard to say.
    I have a friend with brick and mortar businesses who says that sometimes you actually sell MORE when you raise the price.

    If these are the same titles that someone else is selling provide a bonus (something that doesn't cost you extra) that is worth way more than the extra you're charging to cover expenses.
     
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  11. KeralMTG

    KeralMTG Active Member

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    That is a good idea thank you. I did not think about adding something else to them to justify the cost of the raised price. That can help to make it worth the extra money for the customer. Awesome idea.
     
  12. Dean

    Dean Well-Known Member

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    I think that Paypal is the way to go. This will help buyers trust the payment processor and be more likely to make a purchase from you.

    As stated above, you can always do something to offset the cost if you want but I would use Paypal.

    Cheers, Dean.
     
  13. KeralMTG

    KeralMTG Active Member

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    Yes I think that I am going to do that. I have been thinking about doing what @LLRhodes (Thanks) said and just provide a bonus to the customers and increase the price a little to cover the fees.
     
  14. Maria Marketing

    Maria Marketing Active Member

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    Did they put a permanent limit or just a temporary limit? Was the limit because of what the product is? I am looking at payment processing options and do not want something like this to happen to me because I am selling something Paypal doesn't like people to sell through them.
     
  15. Traveler

    Traveler Active Member

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    I have been looking at many of these and they all seem to take paypal for the payment so it must be good. There are some that don't but I am a little worried why they don't take it.
     
  16. Dean

    Dean Well-Known Member

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    There can be many reasons for this but what the usual reason is that they don't want to pay the Paypal fees and that is something that people selling lower priced items usually take into consideration.

    Paypal fees can take a big chunk out of a profit for items that sell in the 1-3 dollar range in particular where a lot of lower priced ebook and digital product sellers price for. They don't take into consideration that accepting Paypal would generate more sales and profit in the long run.

    Cheers, Dean.
     
  17. Traveler

    Traveler Active Member

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    Yeah but the paypal fees on a low purchase are insane! about one third of a purchase that is 1-2 US dollars!
     
  18. ulterios

    ulterios Well-Known Member

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    Paypal also has a couple of micropayment options available that are targeted for sellers of low dollar amount digital goods. They are something to look into if you are selling lower priced digital items like eBooks, music, reports, and things like that. ;)
     
  19. Traveler

    Traveler Active Member

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    I forgot about those. I was selling on ebay and used that when I was in the UK. Thanks for the reminder.
     
  20. ulterios

    ulterios Well-Known Member

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    Depending on when you did that in the past, they now have 2 different programs (last time I checked) where they used to only have one. I used to use the only one they had and still do on one account.