Ecommerce industry studies have shown that offering your customers more payment options directly leads to increased conversions. This makes sense when you analyze the current payment trends: In 2009 77% of online sales involved credit cards, down from 85% the prior year and experts have forecasted that they expect non-credit card payments to account for 30% of total sales by 2014. One easy way to increase your payment options is through Magento PayPal integration.
Utilizing PayPal on your Magento site adds multiple payment options in one fell swoop: Your customers now have many payment options from which to choose: credit cards, a bank account, their PayPal account and even financing via PayPal Bill Me Later. In this post I’ll walk you through what is involved in the standard Magento PayPal integration so you can decide if PayPal is right for you (hint: it is).
Magento PayPal Integration: What You Need to Know:
Most of the PayPal modules are already built right into the Magento platform so adding them to your store only requires enabling and configuring the modules you want – no coding is required.
In your Magento Admin panel choose system>configuration. Select the PayPal tab on the left.
A) Link your PayPal account to your Magento store in the Merchant Account Panel by selecting the appropriate options.
B) Choose which PayPal payment modules you want in the Select a PayPal Solution Panel:
- Express Checkout
- Website Payments Standard
- Website Payments Pro
- Website Payments Pro Payflow Edition (includes its own Express Checkout)
- Payflow Pro Gateway
- Express Checkout with Payflow Pro Gateway
C) The configuration panel corresponding to the payment method you’ve chosen above will open.
- Enter the appropriate information and press the “save configuration” button in the upper right corner.
The process of configuring PayPal can be a bit tricky, you may want to consider getting a professional to handle the heavy lifting, especially where custom design work is involved – you don’t want to jeopardize your site performance. Please visit Magento PayPal Integration by Hara Partners; don’t wait until you’ve already lost sales – add more payment options to your Magento ecommerce store with Magento PayPal integration today.