The entire concept of running a business online is to increase the reach to the customers and adding revenue at the end of the day.
When it comes to a productive and fully-operational eCommerce website, it is vital for every business to have a dedicated process for payments.
simple words, the eCommerce store is all about getting paid for your services
without much hassle.
The current scenario has got so many options available in the market when you need a dedicated payment gateway. However, it is natural to have a desire for a responsive payment option that can serve a start-up or an already established marketplace.
is mandatory to have a set of options that can align with customer
expectations, especially when you have customers with their unique preferences.
This makes it a great option to integrate multiple payment options in your
store and seeking returns from your investment.
you may find slight price variations with each option available, paying a
little extra would not make a difference when you can count clear revenues and
a quick tour of popular eCommerce payment methods that are fast, secure, and
could help skyrocket any business with healthier conversions. Let’s start:
it is about finding the most versatile payment gateway, there can be no option
better than Stripe. It is a highly reliable option for the marketplace and
eCommerce stores, especially when you are dealing with multiple processes at
the same time.
Stripe allows setting up recurring payments from customers, along with online
and in-person payment options. Moreover, Stripe also offers amazing
serviceability with 81 percent less downtime and reduced operating costs up to
you love to work on the custom payment process, you can simply choose a Stripe
UI toolkit to customize the checkout experience. Moreover, it can be used with
all major brands of debit and credit cards like American Express, Master Card,
Visa, and more.
case, you need a little bit of extra facility, you can simply choose
alternatives like Visa Check out, Google Pay, Apple pay, ACH transfers, etc.
The standard pricing model for stripe involves 2.9 percent of every transaction
plus $0.30, while for international payments, it can charge an additional cost
of 1 percent.
big brands and firms could also receive discounts depending upon product rate,
destination country of delivery, and volume of orders.
is also very effective with customer service as a user could reach the customer
service representatives through email, chat, or phone, at any time. All in all,
there will be nothing wrong with considering Stripe as the best payment method
probably heard of PayPal, don’t you? It is a brand that strikes immediately
into a user’s mind once it comes to the concept of payment integrations. PayPal
is recognized for their word of mouth because of the extensive security and
Currently, there are more than 286 million active users of PayPal across Globe, which is growing at lightning speed since they had 277 million active users in June of 2019. So, if you need to put your brand first, the PayPal logo on your website could help gain the trust of customers.
is the most widely used digital wallet that people love to use. Thanks to the
PayPal balance options, which can help a user-pay
without debit or credit card. Moreover, the websites that are using PayPal are
found to be having 82 percent higher conversions as compared to non-PayPal
pricing options for PayPal in the US include 2.9 percent on every transaction,
along with a deduction of $0.30 on it. And for international payments, users
may need to pay 4.4 percent of the transaction along with the amount defined
with respect to the country of purchase.
we have another giant in the list that is already having control over more than
54 percent of share in the US mobile vendor market. This simply means that more
than half of the American population is carrying apple devices with them.
Therefore, Apple moved a step further, introducing a digital wallet for apple
device users called Apple Pay.
works in a very easy manner where a user could make payments within a single
go, which means no more hassle to enter your credit card details and billing
address, unlike other payment methods.
online buyers could make payments using fingerprint or face recognition leaving
no chance of delay or security issues. For users who are shopping at physical
stores, apple pay could be easily used for convenient payments at payment
best part about using apple pay is that it never needs merchants to pay extra money
is mainly recognized with POS to work specifically on in-person payments, but
it has some amazing eCommerce payment capabilities.
is an amazing option for the businesses that have existing storefronts and want
to move to online selling platforms using their Square POS.
it has also got very competitive pricing plans with no fixed transaction fees
on a monthly basis. However, a merchant has to pay 2.9 percent of the
transaction plus $0.30 on every transaction, which is similar to some
can show some extraordinary payment gateway capabilities for those eCommerce
stores that are running on Wix, Magento, Drupal, WordPress, 3dCart, Opencart,
Ecwid, and more.
not an authoritative name to count, it offers a huge satisfaction rate of
consumers. In a study published by JD Power, American Express was awarded a
score of 830 out of 1000 just after the Discover, which stood first with 836.
only thing which most consumers reported about American express is the company
leaving its customers aside in case of disputes. However, they provide 24/7
assistance to their customers with strong fraud protection which makes it a
can be integrated and used across 170 countries, and the payment integration
services could be availed at the cost of $20/month. They start to charge $0.12
on every transaction once 100 transactions are completed.
can be simplified as 350 transactions in a month for a payment of $25 with
every additional payment cost at $0.11.
you have a greater number of sales, you can choose a $55 plan in which 1000
transactions are free of cost, and additional payments after 1000th transaction
still, it is entirely your choice to pick a set up plan of $99, $175, or maybe
$250. Moreover, the user has to pay $20 and $24.95 to avail extra features like
tokenization of payments and fraud prevention.
it makes complete sense to have American express to handle your transactions if
you are earning thousands of conversions in a month.
Checkout is a digital wallet for customers who are using visa cards. The US
alone has more than 337 million users of Visa, and the global numbers touch the
sky with 781 million.
anyone who needs to target those 781 million people, choosing a Visa checkout,
can be a good strategy.
the facts, Visa checkout has shown 82 percent of customers who have made online
transactions using a Visa checkout with 20 million-plus people enrolling in it.
has done 300,000 businesses around the world to opt for Visa checkout due to
its wide scope of conversions. So, if you need to convert more customers to
your website, make sure you work on a Visa checkout.
but not least, we have a name that we all are very familiar with. It is
Google’s digital wallet, Google Pay.
pay is a very convenient payment option that can be used easily for in-person
transactions as well as eCommerce shops. Even the giants like Airbnb have
already integrated google pay with their payment system, increasing their ROI
and customer base.
is very easy to integrate as it just requires access to API, and it just needs
a few tests to ensure the viability of the solution. The best part of using
Google Pay on your online eCommerce store is that it allows easy integration on
the website along with other platforms like Stripe, Shopify, and Square.
complete idea behind the development of an eCommerce store is to gain some
profits and improve the ROI. However, every single user who visits your website
has its own choices. This simply needs you to aim at maximum possible options
on your website when it comes to payment options.
the goals are always to increase the conversion rate, you can always integrate
some dedicated payment models and digital wallets for added customer service.
Moreover, it can help you overcome any friction that a user may encounter while
you are facing a hard time preventing the cart abandonment rate on your
website, consider integrating the above options for a better grip on sales and
brand value. All the best!
Scarlett Johnathon is the eCommerce Evangelist at EcommSmartz, a venture dedicated to the development of productive and futuristic eCommerce solutions. She has a knack for the eCommerce and Marketing industry since she aligns well with the idea of end-user experience and driving sales. She is fond of traveling and loves to explore places especially nature. She believes traveling helps to rejuvenate and boost her energy and perform better with her work.