Top Payment Methods for Your eCommerce Business
An eCommerce website is not fully functional if it can’t accept payments from its customers. Remember that your business revolves around getting paid, and making money is the main reason you started a business.
There are many options to accept payments online, which will give your customers a smooth online checkout experience. This is the reason why you need to pay extra attention to your payment processor. You have to make sure that you can offer multiple options where your customer can comfortably make a payment.
Check the payment methods that most customers are using if you want to take your eCommerce platform to a higher level.
PayPal
This is one of the most commonly used with regards to online payment. It’s been operating for quite a while and is known for its security, ease of use, and reliability. This payment method should be on every eCommerce website.
Right now, in 2020, PayPal has gained active 325 users worldwide, with an average increase of 17 percent each year. If your eCommerce business is new and you want to establish a good reputation, having a PayPal button on your checkout page can help you. Customers know that PayPal got their back for security.
Moreover, some users might have extra PayPal balances that they prefer to use in online shopping instead of paying using their credit or debit cards. Websites that are using this payment method are reported to convert 82 percent higher rate compared to websites without PayPal.
Apple Pay
This iOS’ digital wallet has control over 54 percent of the United States’ mobile vendor market share. This means many people are using Apple Pay as their payment method in the U.S. Think about people who are using iPhones.
iPhone users set up this digital wallet on their devices to pay for anything they want to buy in one click. By using this method, customers don’t need to fill out lengthy forms with their credit card information and billing address – this information is securely stored in Apple Pay.
It is so easy to use; users can finalize their payment using facial recognition or fingerprint. Moreover, there are no additional fees charged to merchants for using Apple Pay as their payment method.
Google Pay
This payment method is offered by one of the most well-known names in the world; Google. Many mobile apps, eCommerce shops, and even in-person checkouts are using Google Pay.
The biggest names in the industry, such a s StubHub and Airbnb, have already added this payment method to their checkout processes. StubHub says that its customers have increased to 600 percent after adding Google Pay to their site.
eCommerce websites will not run if it cannot accept payments. Ensure that your customers have the best online checkout experience by making sure that you can accept whatever their preference is.
It is crucial that you can give them as many options as possible, and this will surely increase your conversion rates. Digital wallets are now becoming popular as it makes it easier for consumers to shop online, giving them the ease of checking out. This takes away the need for typing out of their credit or debit card information whenever they check out, which consumes a lot of time.
