Crowdfunding with Kickstarter and PayPal
Crowdfunding has transformed how entrepreneurs and creatives fund their projects, with Kickstarter becoming one of the leading crowdfunding platforms. However, when it comes to payment options PayPal remains the go-to choice – providing secure online payment processing solutions. This article will discuss the advantages and disadvantages of using Kickstarter PayPal together, and what that means for both project creators and backers.
What Is Kickstarter?
Kickstarter is an online crowdfunding platform which enables entrepreneurs, artists, musicians, and other creatives to raise money through pledges from supporters for their projects. Projects can range from new inventions and films, to music albums and more. Creators set funding goals and timelines, and if their goal is reached within that allotted period, they receive all funds raised less fees from PayPal.
What is PayPal?
PayPal is an online payment system that enables individuals and businesses to securely send and receive payments over the internet. Online payment platforms such as PayPal are widely utilized for shopping online, sending money to family and friends, paying bills and more. PayPal provides buyer protection and fraud prevention measures to protect transactions safely.
Using Kickstarter PayPal together may present several advantages to project creators and backers alike. Creators benefit from having access to a trusted payment option that many already use and trust. Increased pledges may come through using PayPal on Kickstarter as it offers backers an easier method than entering their credit card information directly onto the platform. PayPal also provides additional security measures, including two-factor authentication and fraud monitoring, that can give customers peace of mind when conducting online transactions. Using PayPal on Kickstarter also simplifies payment for international backers. Not everyone’s countries allow certain payment methods or require additional transaction fees, making PayPal an easier and more affordable payment solution.
Drawbacks of Using Kickstarter PayPal
While using both Kickstarter and PayPal together may present significant benefits, it should also be kept in mind that they could present certain drawbacks as well. Concerns exist that adding another payment option might further complicate the checkout process for backers. This could cause confusion or disappointment for potential backers and lead to less pledges overall. PayPal also charges fees on transactions which reduce funds raised via Kickstarter. Kickstarter already deducts fees from total fundraising amounts; adding PayPal fees could further diminish what creators receive as payments. Although PayPal provides buyer protection, this may not apply in all circumstances such as crowdfunding transactions. Backers who support projects using Kickstarter PayPal together may not have recourse to disputing charges or receiving refunds in case their project does not deliver as promised.
When using Kickstarter PayPal together for your project, here are a few best practices you should keep in mind. As soon as your campaign goes live, be sure to inform backers clearly of all payment options and any associated fees. Consider offering rewards or incentives to backers who use one payment method over the other to encourage them to select what would be most advantageous for you and track payments received through both platforms. It is also essential that payments made are tracked carefully. Keep meticulous records of all transactions, and be prepared for any disputes or chargebacks that may arise.
Finally, remember that using Kickstarter and PayPal together are only one funding solution available to your project. Consider alternative crowdfunding platforms or traditional financing methods if they better meet your needs and goals.
Conclusion:
In summary, using Kickstarter PayPal together offers many advantages such as increased ease of use for backers as well as being an established payment option for creators. However, it’s essential to carefully evaluate any potential disadvantages, such as added complexity and fees before making your choice. Be sure to explore all your options prior to selecting the best approach for your project. Relying on Kickstarter and PayPal to increase crowdfunding success requires careful strategy and execution, but both services offer valuable assets for success.