There’s no denying that those who shop online are a diverse group. Much like any other consumer, their personal preference will vary greatly. And one option you’ll need to know if you want to attract more customers is their preferred payment methods—whether it’s for convenience sake, security concerns, or practical reasons. After all, some may not feel comfortable entering their credit card details, while others might want to use a different currency.
By providing them with more options by offering alternative forms of payment in your internet business, you’ll be able to effectively broaden your consumer base and generate more sales in the process, in the same way as successful online enterprises like Amazon, casino.netbet.co.uk and other similar platforms have done. With that in mind, here are some of the best alternative payment methods to consider.
PayPal is arguably the most popular of all alternative methods of making online payments available. It gives shoppers an option of having an account to maintain cash balances and paying from it directly. It can also draw the necessary funds from other sources like a bank account or credit card; or finance it through PayPal credit. Best of all, if the balance of the account can’t cover the purchase, it will automatically use one of the funding sources included as a contingency.
It can also be used to receive payment. For example, eBay relies on it for its sales, and money can be transferred instantly from one account to another using this platform. For this reason, it’s become a favourite amongst many and essential for any ecommerce business.
With so much online shopping being done through smartphones and tablets today, it comes as no surprise that Apple Pay has grown in popularity as an iOS payment method. Unlike other means of payment, it keeps the customer’s information stored securely over the cloud. This means that even if the mobile device gets stolen or lost, the risks of data compromises are effectively mitigated.
Another advantage it boasts is that it’s considered as having one of, if not the most, convenient experiences in online checkouts. Customers who use this platform can essentially make purchases with a finger touch. And with the proper eCommerce channel, it can seamlessly be integrated on all relevant devices.
As its name implies, the Amazon Pay method enables customers to make purchases using methods they’ve already saved in their accounts in Amazon. With the implementation of Amazon Pay, you’ll provide users with the convenience of eliminating the need to input any financial information while giving them the option of paying via a trusted and secure gateway. Since many have confidence in Amazon, you’ll be extending that same level of trust with your business through it.
It can be beneficial for an online business in many ways to offer multiple modes of payment for their offerings. These are three of the many payment methods you should have for your internet store. By including more, you’ll allow your brand to cater to more people and, as a result, increase your sales numbers.