Hello, I just registered in this forum because I thought I could get my answer here. I'm reviewing, trying and choosing a platform to make a subscription for my supporters, like Patreon does. I've been looking into Patreon, Ko-Fi, Payhip and Gumroad to be specific. Anyway, my question is, if the platform is missing the Credit Card payment method, do I lose a percentage of customers/subscribers because they don't have Paypal and/or they don't want to use it? And do you know what percentage it might be? Thanks for your help!
PayPal Pros: Widely accepted by online merchants Offers buyer protection, which means users can file a dispute and potentially get a refund if they don't receive the item they paid for or if the item is not as described Easy to use and setup Free for buyers to use Cons: Merchants may be charged a fee for using PayPal Availability may be limited depending on the country or region Does not offer a credit line like credit cards Credit Card Pros: Widely accepted by merchants both online and offline Offers purchase protection, which means users can file a dispute and potentially get a refund if they don't receive the item they paid for or if the item is not as described Credit line allows users to make purchases and pay for them later Some credit cards offer rewards and cashback Cons: Interest rate and fees can be high May require a credit check Risk of debt if not used responsibly Dispute process can be more complicated and time-consuming than PayPal Security breach can happen and your credit card information can be stolen. It's important to consider your own needs and preferences when deciding whether to use PayPal or a credit card for payments. Both have their own advantages and disadvantages and it's important to weigh the pros and cons before making a decision. Additionally, it's important to be aware of any fees associated with using either method, and to read the terms and conditions carefully before signing up for any service.
PayPal and Credit Card payments both have their benefits and drawbacks. PayPal: Advantages: PayPal is a secure and easy way to make payments online. You can pay with your bank account, credit card, or debit card. PayPal also offers buyer protection, so if you don't receive what you paid for, you can dispute the transaction and get a refund. Disadvantages: Payments made through PayPal may incur additional fees. If you use a credit or debit card, you may be charged a transaction fee of 2.9% plus a $0.30 fee. PayPal may also put a hold on your funds if you are selling goods or services. Credit Card: Advantages: Credit cards provide a secure way to make payments. They also offer rewards such as cashback and points for every purchase. Credit cards also provide extra protections for consumers such as fraud protection and purchase protection. Disadvantages: Credit cards can have high-interest rates and fees if you don't pay your balance in full each month. It's also easy to overspend with a credit card if you're not careful.