(Newswire.net — October 13, 2016) — There are over 2.5 billion underbanked people in the world – about half of the world’s adult population. And businesses are unable to access their potential customers in this group.
This is so because businesses generally restrict their online payments to a very few methods, especially PayPal and cards. A customer that can’t use these payment methods – or that doesn’t trust them enough – ends up being lost to competitors with more payment options.
This limited payment options is one of the biggest problems of eCommerce; it’s one of the major reasons people abandon shopping carts – amongst others like lengthy and complicated checkout process; bad site and shopping cart design; slow site loading speed; bad customer service, etc.
Losing potential customers to limited payment options is a problem Paxful seeks to help businesses solve. Paxful is a company that provides businesses with a payment button that can be put on shopping carts or apps that lets buyers pay with or without credit cards or bank accounts.
In other words, even if your potential customers don’t have a credit card or even a bank account, having a Paxful pay button gives them hundreds of other options to choose from in paying for your goods or services.
This simply translates to more business for you, and unlike your competitors, you’ll be having access to the other 2.5 underbanked people in the world.
Who Are Underbanked People?
Underbanked people are individuals (or businesses) who have poor access to the conventional financial services normally offered by banks, and they still rely strongly on those non-traditional forms of finance often associated with the disadvantaged and the poor, like cheque cashers and pawnbrokers.
Language barrier can also make you underbanked, especially migrant workers that are unable to access banking facilities due to inability to communicate with others in the local language.
Being underbanked might also be a function of personal decision. Some people simply do not trust the banking system, while some just aren’t comfortable with using ATMs.
Even in developed countries, like the USA, we still have so many people and households without a bank account.
With the revolutionary Paxful pay button, you’re now able to give your potential customers a whopping 300 payment options, and therefore be able to accept payments from anyone anywhere in the world – in any currency.
These payment options range from gift cards (Amazon, iTunes, Walmart, Target, etc) to cash deposits (Western Union, Moneygram, etc), to online wallets (PayPal, Skrill, Google Wallet, etc), and even debit/credit cards – and over 290 other options. Your prospect would simply have no excuse to not do business with you.
Imagine your business having access to the 2.5B underbanked people around the world. This will literally set you apart from, and far ahead of, the competition.
Paxful services are easy to use, and apart from giving you access to the underbanked people of the world, there are several other benefits over other ecommerce payment companies.
1. International Clientele
Since your business has gone global with the Paxful pay button and can accept any method of payment from around the world, new international opportunities will be open for you and you’ll have more people doing business with you internationally.
2. Increased Credibility
It’s natural; a business that can accept over 300 payment methods will be deemed as more trustworthy than others in its space. It sets you apart from every other business, as most would still have only the usual Paypal and credit card logos on their checkout pages.
3. Peace of Mind
Apart from added credibility, customers would feel safe doing business with you as they wouldn’t need to leave your page to make their payment. You can customize the look and feel of the Paxful payment gateway to match that of your site or app – with background color, text color, and even your logo.
Conclusion
Getting started with Paxful is as easy as typing your email and password. You’ll be given a single link which you’ll install on your site, and you’re good to go.
The best part is, you won’t be paying any percentage on your sales for merchant services to Paxful. In other words, it’s free to use.