The Best Payment Methods for Your E-commerce Business

You have passed from a long path with obstacles. Finally deciding, planning, financial efficiency, accountancy, heavy regulations, web design and many more. When you look back you can not believe what you went through. Right? As entrepreneurs once, we know exactly what you feel.

 

Undoubtedly, there is no end in improving your company but we can give a hot tip about how to convert your business into something more effective. Your Checkout page! Because no matter how great products you have or how seamless your product placement layout is, your payment methods and check out page design will carry your website to the next level. But how to develop your payment options? 

What are the most demanded online payment methods today?

First, we want to underline that the latest research shows that 70% of online shoppers abandon their shopping carts during the payment process. This is a real-life nightmare for business owners. There are many reasons for cart abandonments but the most important reason is the lack of payment methods. Today’s buyers are interested in the fastest and the simplest purchases with the most secure payment gateways.

 

A payment gateway can be defined as a required process to buy a service or a product. Once the buyers insert their financial information into the blanks and authorizes, the information is sent to the card processor and then the card provider. By the way, payment gateways are encrypted from end to end. Therefore, they are unreadable for the third parties and considered ultra safe.

When you expand your business overseas, naturally, a need for more payment methods will appear. Since your clients will be from multiple countries, you must place many choices for them. Following are the options you can provide in your checkout page.

The oldies but goldies, Credit Card Payments 

Visa, MasterCard, Discover/ American Express, Union Pay and Jcb are the most known credit cards worldwides. They are mostly preferred for their installment opportunities among online shoppers. In order to provide credit card options, you need to have a Virtual POS provided by bank partners.

Safezone, Direct Debit Cards

34% of Europe does not own a credit card whereas 74% of the whole population owns at least one debit card. These cards are chosen not to use borrowed credit to make most purchases. We can count Maestro, Multibanco, Bancontact, Ideal and Sepa Direct Debit.

A new era, E-wallets or Digital Wallets 

A digital wallet is a server that keeps your assets and information securely. Unlike credit cards or debit cards, they are much easier to create and serve a more safe shopping experience than just a password. Some of the E-wallet options are Jeton, Skrill, PayPal, AliPay, ApplePay, GooglePay, Citi, EcoPayz and Zelle. Many of these brands will also serve you virtual cards as a real debit card substitute.

Another attractive option, Installment or Pay Later Apps

These apps can look attractive but for both sides, businesses and buyers, they can be pricey for their high fees. Klarna, Coffidis, AfterPay/ClearPay and Splitit are the most demanded ones in this category.

 

Before listing these alternatives in your payment options, you need to ask yourself some questions. These are:

-What is the best payment method for my target market?

-Is this payment method easy and functional for my business?

-Where is my target market located ?

-Is this payment method safe for my business and my customers?

 

If you are satisfied with the answers, do not hesitate and give it a chance!

Our trustworthy company, Jeton provides top quality service for both businesses and individuals. Join our community today and start using the benefits of our services.

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