Sales, sales and more sales; this is the priority of all ecommerce websites. When money is involved, it is a given that every website wants its customers to have a seamless purchasing experience and this also includes checkout. You may have invested time and resources into designing a great website and buying quality web hosting, but have you put any thought into the checkout process? After all, this is where customers will show you the money. Bear in mind that a solid payment gateway like a third-party application can help you in providing your customers with a positive purchase experience.
Some customers prefer to pay through debit/credit cards, some use E-wallets and other online payment solutions. Even cryptocurrencies have now become an option. You need to offer as many payment methods as possible to attract more customers. Here are the top ones that you can consider:
One of the most popular methods for e-commerce payments is credit cards. While the bank ultimately processes each transaction, the deal is made with a gateway provider such as Due. It is one of the most cost-effective options available for ecommerce websites, especially new ones. Transaction fee and monthly processing fee is added together, which brings down the cost.
Lots of prepaid card processors such as Adyen also provide support for credit and debit card payments. This payment processing platform directly connects with leading prepaid card providers such as Mastercard and Visa. They also offer integration with 28 other payment service providers. Transactions are made quickly as prepaid cards are usually linked with cash accounts and Adyen charges low fees for these transactions.
Another one of the most popular payment processors that’s used widely is PayPal. The difference between PayPal and other payment processors is the fact is that both merchants and customers deposit and withdraw from their accounts separately from their respective bank accounts. Therefore, it is often referred to as a managed bank transfer service and allows ecommerce websites to establish a relationship of trust with their customers. However, transaction fee is applicable, which can make it costly for some. You can log on to PPAccepted.com and learn about websites that accept PayPal.
One of the most exciting and newest financial instrument that’s making headlines these days is Bitcoin. While their use hasn’t become that widespread, cryptocurrencies are offering a variety of benefits to ecommerce businesses. The current popularity of Bitcoin is mostly because of its ability to make anonymous and secure payments to and from anyone in an untraceable way. Implementing Bitcoin on an ecommerce website can also boost traffic because it will automatically attract a computer-savvy and educated customer base from all over the world. A platform such as BitPay can be used for integrating Bitcoin payments on an ecommerce website easily.
This is a mobile payments service provider that can be used for direct carrier payment processing. This can be incredibly convenient for customers when it comes to paying for their online shopping as the amount is simply added to their phone bill. mBill is compatible with almost every mobile phone carrier in the US and also available in 80 other countries.