New financing tools from PayPal to help boost your holiday sales

Nov 19, 2012 by Qetzal, Product Manager
Posted Nov 19, 2012 by Qetzal, Product Manager

Recently we’ve released an Ecwid version that supports two more PayPal products: PayPal Payments Advanced and PayPal Payflow Link. They allow customers to pay by credit card without leaving your site pages.

Now, just in time for the holidays, PayPal is rolling out new financing tools that can help you boost sales. If you’re using one of PayPal’s checkout products to accept payments, now you can offer customers financing through their Bill Me Later® service.

Here’s how it works: When your US customers check out with PayPal and use Bill Me Later, they can get 6 months financing on qualifying purchases. The awesome part is that you get paid right away, regardless of when your customers pay.

How to get started

1. First of all, please make sure that you use and have enabled one of PayPal’s checkout products: PayPal Payments Standard, PayPal Payments Advanced, PayPal Payflow Link or Express Checkout. There’s no extra cost for you – Bill Me Later is already included in these payment options automatically. (Please note that Bill Me Later is available to US customers only at this moment)

2. Then, you should visit the PayPal Financing Portal to add banners promoting this financing offer to your site. Shoppers consider how they’ll pay before they check out. When you let your customers know they have financing options at the beginning of the shopping process, they’ll be more likely to spend more. You decide where to place the banners and which size to use. Just copy the banner’s code and paste it into your website’s source code where you want the banner to appear. For the best results, add the financing banner on your home page above the fold or to your site’s sidebar.

According to the Forrester Research’s study Bill Me Later can increase average order size by up to 75% and drive up to 43% more new sales, so it is a great thing to set up before the holiday sales. More information is available at www.paypal.com/financingportal.