"Should PayPal be Your Only eBay Payment Option?" by Jason James
You may have noticed that many sellers list PayPal as the only payment option they accept - they simply can't be bothered cashing cheques and money orders, never mind any of the other strange ways some people want to pay. Like all things in life, though, PayPal has its advantages and disadvantages. Let's take a look at what PayPal can do for you, and what it can't.
The Disadvantages.
PayPal is very vulnerable to fraud, and it's you as the seller who'll be paying the price when it happens. What's more, they do take a percentage from every transaction that you could be keeping if your buyers were paying by cheque.
You might also have noticed that PayPal come from the eBay school of customer service, enjoying such pastimes as hiding their phone number and only ever sending out automated responses to emailed queries. PayPal has an unusual number of campaigners against it, most of them people who've had their accounts frozen and had to chase PayPal for months for thousands of dollars. Some of these people recently filed a class action lawsuit against PayPal, claiming damages for lost business - and they won. This alone should make you cautious about using PayPal.
The Advantages.
PayPal is quick and easy for buyers to use, and is certainly a more secure and reassuring way to accept credit cards than signing up for your own merchant account. You'll probably also find that it's cheaper for you.
That's before you even consider that eBay buyers are more eager to buy from someone who accepts PayPal, as it saves them all sorts of hassle with posting payment and then waiting around. PayPal lets you give speedier customer service.
But Should You Use It Exclusively?
The most important thing about only accepting PayPal is, again, a matter of customer service: some of your potential customers might not have or want a PayPal account. Not everyone loves electronic payments - some fear them, and like eBay because it is one of the few places on the Internet where many sellers will accept payment by more traditional methods. Do you want these people as customers, or don't you?
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Jason James is a 10 year Internet marketing veteran and an eBay Power Seller of 4 years. His website "The Auction Resource Network" reveals his inside secrets, tips, and sources that help him pocket over $10,000 per month on eBay. His proven step-by-step system shows even users with little or no business experience how they too can make huge profits selling products at online auctions.