One of the key points that will help to successfully complete orders is the availability of various payment methods. The variety of payment methods significantly increases the conversion of your website.
It is important to remember that if you sell your products in different countries, then you should initially research the most prevailing payment methods in a particular country.
Payment methods that should be provided
1) Bankcard
A bank card is an obligatory method of payment. This type of payment ranks second in the world for the choice of payment method. More than 20% of people prefer it. In countries where e-commerce is well developed, the rate increases significantly.Paying by credit card will significantly increase your conversion since such payment is safe for both the buyer and the seller. Moreover, many banks offer various loyalty programs to their cardholders, which further encourage users to use this payment method.
2) e-Wallets
2 years ago, more than 40% of the world's purchases were made using e-wallets. It is expected that in a few years this percentage will increase to 50% and will be the most demanded.This method is convenient in that all the information necessary for payment is already put in it and when making a purchase, the client does not need to enter data. When a user wants to buy something, he just needs to enter his username and password from the electronic wallet and the payment will be made.
Another thing that stops customers from making a purchase is to sign up, where you need to spend extra time in order to enter all details. In this case, such wallets solve the problem for the user.
Many business owners face unlimited hurdles when trying to increase their website conversion. In this case, specialists offer eCommerce software that takes care of all the problematic points and helps your business compete in the market.
The availability of which e-wallets also affects sales growth
PayPal
PayPal ranks first among all e-wallets. The number of users using this wallet is more than 250 million people. Therefore, we can conclude that many of your customers use this service. This service makes a payment in just a few seconds, no matter what device you use. Most countries in the world have connected this wallet as a payment method. If you are an international company, then having this method is a must. Many studies support the fact that website conversion increases by 80%.Amazon Pay
The giant seller Amazon is known to every person on earth. They introduced their payment method, Amazon Pay, to the site a long time ago. Moreover, this service is used not only on the Amazon website but also on other marketplaces and online stores.Apple Pay
The most popular mobile payment method is Apple Pay. The presence of technology that reads your fingerprint makes this service one of the most secure. All your customer needs to do to make a purchase is to touch the fingerprint scanner. Also, this service is installed on all iOS devices.Google Pay
Android device owners have a chance to pay for purchases using Google Pay. The information you need to make a purchase is already entered into your account, which allows you to quickly place an order. Also, such payment methods as Google Pay and Apple Pay allow online store owners not to pay an additional commission, which PayPal and Amazon Pay cannot boast of.Alipay
If your store sells products in Asian countries or reaches an audience from these countries, then the Alipay payment method is required. The owners of this wallet can make purchases in more than 50 countries around the world.BUY NOW, PAY LATER
If your target audience is young people, then this service might stimulate your sales.The peculiarity of this method is that customers can partially pay for the order, while they will not be charged interest on a credit card. Further, customers can rationally plan their budget without spending a lot of money on one purchase at once.
Summing up
With a wide variety of payment options, your customers will be more willing to shop.When targeting the international market, make sure that you have analyzed the most popular payment methods in a given country.
If you need help analyzing various payment methods and choosing the most optimal ones, use the help of specialists at https://www.kandasoft.com.
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