According to a poll performed by CyberSource, merchants who accept four types of payments (PayPal, credit cards, online checks, and Bill to Phone) have more customers convert than those merchants with a single payment option. The conversion rate is 20% higher for merchants with several payment options.
“Adding payment types can be effective because the Internet is now reaching well beyond the early adopter. We’re hitting different demographics now; people who may prefer not to use credit cards and people who don’t have them. Others simply prefer the convenience of an alternative payment method for a single transaction.” -Doug Schwegman, CyberSource director of customer and market intelligence.
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Article on Alternative Payments