For several months, PayPal’s Bill Me Later® service has been an available payment option for AspDotNetStorefront users. But last week, we found out two pieces of big news from PayPal that come just in time for holiday sales.
Bill Me Later Just Got A Lot Better
We already knew that Bill Me Later has been shown to increase new sales and average order value (AOV). The reason: With more time to pay, shoppers tend to spend more and buy more often.
But now, it is a lot better. For the first time ever, when customers check out with PayPal and choose Bill Me Later, they can get financing1 with NO payments and NO interest if paid in full within six months on purchases of $99 or more. This will have a big impact on your shoppers’ buying decisions this holiday season. In fact, PayPal tells us that offering Bill Me Later can increase average order sizes by up to 75%.2
Instant Gratification At Its Best
Not only can consumers get the products they want without paying anything up front, but you, the merchant, still get paid for the purchase as you normally would with a PayPal payment – without any added delays.
Plus, and this is the part that truly amazed us, the approval for this financing for your customer is instant. They’ll know on the spot if they qualify or not.
It Couldn’t Be Easier To Promote Financing on Your Site
For merchants who already have a PayPal business account, offering Bill Me Later as a payment option and promoting financing is really simple. And for those who are not yet signed up with PayPal, there’s even more of a reason to do so now. There is no additional cost to offer this option to your customers and it gives store owners an edge over their competition. By promoting financing, you can influence purchasing behavior and cash in on the increase in sales.
Here’s How You Can Boost Your Sales By Tomorrow:
For AspDotNetStorefront MSx 9.3
Merchants who are using MSx 9.3 or later can start taking advantage of Bill Me Later right away! If you already have PayPal Payments Advanced configured for your cart, then your shoppers will automatically see a Bill Me Later payment option at checkout. There’s nothing you need to do other than to start letting your customers know about this new payment method. And PayPal makes that part easy for you by providing banners for you to place on your website. Just visit the financing portal and click on “Get banners now” to login to the PayPal Financing Portal.
If you are using MSx 9.3 or later but you have not configured your cart for PayPal Payments Advanced, then watch this short video about how to set that up. The great thing about PayPal Payments Advanced is that your shoppers will be able to select Bill Me Later right there in the shopping cart when they check out.
For Other Versions of AspDotNetStorefront
Merchants who are using any other version of AspDotNetStorefront can still advertise and offer the Bill Me Later payment option on their websites. You just need to support one of the following PayPal products:
- PayPal Express Checkout
- PayPal Payments Standard
- PayPal Payments Pro
- PayPal Payflow Pro
For PayPal Express Checkout and PayPal Payments Standard, the only difference is that the Bill Me Later option will not show up on your checkout page. Instead, the shopper will click on the regular PayPal payment option and be led through the usual PayPal experience where the Bill Me Later option will be presented.
The important thing to remember: Let your customers know they have financing options available, while they’re shopping by using PayPal’s on-site banners. This is the key to being successful here, and PayPal makes it easy by giving you all the banners you need to take advantage of the boost in sales.
Boost Your Holiday Sales in Three Simple Steps
1. Get A PayPal Merchant Account
If you do not have a PayPal merchant account, then the first step is to sign up for one here.
2. Configure Your Cart To Enable PayPal Checkout
Once you have established a business account with PayPal, you will need to configure your cart for the PayPal payment option. To learn how to do that, click on the appropriate link below:
3. Download PayPal-hosted banners for your site.
After you are finished configuring your cart and you are ready to accept PayPal payments, be sure to add the PayPal-hosted banners to your site. Remember, if your customers know that they can use Bill Me Later, the chances are that they will spend more money or be more inclined to buy from you!
For more information about Bill Me Later, including metrics that show how much of a sales increase you can expect to see, be sure to check out the Why Use Financing page. And if you want to learn more about applying for a personal Bill Me Later account, you can visit the Bill Me Later overview.1 Bill Me Later is subject to consumer credit card approval as determined by the lender, WebBank, Salt Lake City, Utah. 2 Forrester Research, Total Economic Impact (TEI) study of PayPal Express Checkout for Web and Mobile, 2012