How many Payment Types Is Your eCommerce Website Accepting?
If you go to any ecommerce website these days, you’ll see at the top, on the side, or at the bottom the payments they accept. Most will always have the Mastercard logo as well as Visa, but most are usually followed by many other payment types that are accepted.
As the commercial landscape of the internet grows, there will be more and more ways that will enable customers to pay for products online. Furthermore, ecommerce merchants understand the importance of offering these options to customers as each customer is different in their preference in paying for goods online. Either they feel comfortable using a certain type of service, loyal to a certain service, or just convenient to pay a certain way for something online.
There are a few options available to both merchants and consumers to pay for products online.
Direct Credit Card Payment: Besides a few services that offer consumers an easy and convenient way to pay, you should have a direct method for consumers to pay with their credit cards on your website. Make sure to accept credit cards such as American Express and Discover. Beware of reward card fees as they tend to be a lot higher than regular credit card fees.
PayPal: PayPal is probably the oldest and most trusted for many consumers to pay for products online. About 80% or more of ecommerce websites accept PayPal as millions of consumers worldwide have a PayPal account, mostly due to the fact they’ve done at least one transaction through eBay in their lifetime.
Google CheckOut: GC is fairly new but it truly is a great payment processing product. After all, Google rarely creates a mediocre product. The thing about Google Checkout is that it’s fairly new but the fees are less than PayPal. More and more websites are currently accepting Google Checkout as a payment method because more and more clients are asking to pay that way.
Amazon Payments: This is another new kid on the block of payments that will grow within the next few years or die off. Knowing how Amazon works, it will probably stick around and grow as Amazon and a few other websites offer this method of payment. As eBay declines due to the growth of Amazon, Amazon Payments will gain popularity over the next few years.
eLayaway: Most retailers haven’t heard of this payment source yet and it is a real solid one. The thing with eLayaway is that it’s very new so it hasn’t integrated to many shopping carts. Nevertheless, it is a great payment method if viable for ecommerce merchants due to the fact that it allows for buyers to put products on layaway!
BillMeLater: If you go to any large ecommerce websites, you will be a BillMeLater logo. This is a big one but not every ecommerce merchant can offer this service as BillMeLater has requirements you have to meet as an ecommerce merchant. Check out BillMeLater and see if you can meet their requirements.
If possible, make sure to try and always offer as many payment options as possible.
-
About the Author:
Paul A is in the marketing staff of F3, a shopping cart software company also offering credit card payment processing services.
Article Source
Share this:
Read also:
- Ecommerce and Online Shopping: Transforming the Future in Shopping
- Why Outsource eCommerce Order Fulfillment Services?
- 2 Things Your Ecommerce Website Must Have -buy articles of association
- World of warcraft Market – Gold Sites Need Accurate Market Orientation
- 5point Solution for a Hit Ecommerce Website Design
- Why Flippa Is For Flipping Amateurs