Have you been looking at a drop-rate in your sales funnels lately? Could it be because you just have one payment gateway in PayPal for your customers? Have you considered PayPal alternatives yet?

We think it might be a very much plausible reason when you are looking at your customers abandoning their carts on the checkout page. There could be other reasons too, but if you have one payment gateway, you should know it is the reason behind the dropouts.

When you are working with an eCommerce business, usually based on WooCommerce, on WordPress, you need to make sure you are well-versed in your strategic approach as well.

There are certain other things that might cause abandoning of carts and dropout from funnel sequences. You can learn more about strategies for a WordPress based eCommerce business here.

In case you know that there are a lot of people abandoning your funnel at the checkout stage and you only have PayPal payments on offer, you should try to look for alternatives to PayPal.

If you think there is a problem with your payment plugin, you can fix it by installing a better plugin on your website. If that is not the case, you need to include more payment options.

Why do you need PayPal alternatives?

We would start with a very plausible explanation: PayPal does not work in every country. In case you are not dealing with international audiences, another rational reason would relate to everyone not having access to PayPal.

People that come to your website are not the same and don’t share the same preferences for all niches. You are serving a diverse audience and you need to make sure that you live up to the expectation. That is true for all businesses, be it a casino, stores, or e-learning sites.

When you present only one option for any step in the funnel, you are literally cutting out a portion of possible conversions. You need to make sure you have multiple options for every decisive step in your selling process.

With regards to payment methods, you need to provide your customers with methods other than PayPal because not everyone coming to your website has access to it or favors it over other payment methods.

The best alternatives to PayPal

We have found numerous payment gateways on the internet, but we only thought of three of them as trustworthy and safe enough to be chosen for one and all businesses.

You can choose any one of these as an alternative payment method on your website and we guarantee that you will have better results related to conversions and revenues.

1. Stripe

Whenever we talk about the best PayPal alternative, Stripe has to be the first and foremost on the list. It is the finest competition for PayPal and offers better rates for international sellers as well.

The basic payment rates for Stripe match the basic payment rates for PayPal, but it is far better for international selling websites. It has a lower charge for each payment compared to PayPal for international payments.

Compared to PayPal’s 4.4 percent charge in addition to a fixed currency charge, Stripe has a 3.9 percent charge in addition to a one percent currency charge.

In addition to the benefits of international selling, Stripe also gives you the desired diversity in the payment options. For international customers, it provides various payment methods in the 37 countries it is available in.

Stripe also allows credit and debit card payments in its Payment version. On the other hand, the WooCommerce Stripe payment option allows Apple Pay and Google Pay options too.

2. Checkout

If you want a premium choice for your payment methods, you have to go with 2Checkout. It adds the diversity required to your checkout procedure, but it is expensive compared to PayPal and Stripe.

Its basic pricing is nearly identical to that of PayPal and Stripe for physical products, but it is expensive for digital products and services. It’s rate rises to $0.60 in addition to the 6 percent per transition.

It is available in over 200 countries because it offers over twelve different payment methods varying with each region. It is the perfect tool if you are looking for diversity in payment methods.

3. Authorize.net

If you want to add multiple payment methods including PayPal without directly using the platform, you should opt for Authorize.net. It is diversified in payment methods and is secure too.

You can use multiple payment methods that it brings on your website, and get rid of just one single payment gateway. You can also have PayPal without a direct usage of the platform with it.

It has the standard basic pricing for merchant usage and allows payment methods such as PayPal, e-checks, Apple Pay, and more. This adds diversity to your checkout procedure and helps with a secure transaction procedure as well.

Conclusion

You should always have multiple payment methods on your website if you are looking forward to higher conversions and revenues. Make sure you choose the right one based on your audience.