Why have several payment methods on your website

Having different payment methods on your website is essential nowadays. And it is that, the comfort of the client is vital in any business, therefore, offering different options for their payments will make them feel confident and secure when making their purchases.

On many occasions, we ignore the importance of offering various payment methods in an online store, which is fatal for business growth. Offering other options allows customers to select the method that best suits their needs, so the sales process is repowered.

What do the statistics say about payment methods?

According to studies, the variety in terms of payment methods is important for all consumers. It is estimated that more than 65% of netizens have made online purchases in the last quarter, and 97% of them have selected online payment methods.

These, for their part, vary between debit or credit cards, electronic wallets and banking operations.

Specifically, 48% of consumers choose offline payments, that is, they pay for their purchase in the stores of their choice or make payments with direct delivery.

Why should you include multiple payment methods?

We are facing demanding consumers with extensive experience in online shopping, so streamlining processes is necessary for both the company and the consumer. There is a demand for flexible and varied payment alternatives that make it easier for users to carry out their transactions as they prefer.

This is how the need to implement simultaneous methods that offer ease of payment, user comfort and tools that increase conversions grows.

Another reason to offer several payment methods on your website

Studies show that when a consumer tries to make their payment online and for some reason it does not materialize, 49% of them select another method but 27% end up abandoning the purchase.

Faced with this unfavorable experience, customers tend to get the wrong idea about the store, it seems to them a cumbersome method and without options to facilitate the process. And it is that, 65% of the banking entities approve the operations but, the other 35% are rejected for being unusual transactions .

Offering variety to potential customers gives them the opportunity to choose the most convenient for them, thus increasing sales.

Choose a diversity of payment methods for your website

Choosing which payment methods to offer customers is necessary, since it is a factor that directly influences purchases. In this sense, forms of collection that suppose advantages for the business should be analyzed:

• Commission
• Flexibility
• Setting
• Accessibility and management

Now, you should not only think about what is convenient for your pocket, it is also important to think about the convenience of the client. Depending on the forms of payment that you offer, the consumer determines whether he makes the purchase or abandons the process.

On the other hand, the client looks mainly at:

• Security.
• Use is simple.
• Little time to manage it.

Once you know the benefits of each payment method, it is time to choose the right one. Although you do not necessarily have to choose a single method since, by offering freedom, you ensure that one of the methods is of interest to the consumer.

So, you have to have the ability to adapt to the customer's comfort and thus counteract the number of unfulfilled sales . What is intended to avoid is that the customer adds a product to his cart and when making the payment feels insecure, uncomfortable and ends up abandoning the process. Offering different options allows the customer to find the method that suits them best.

However, if the payment method represents an extra cost for the business due to the commissions of the payment gateway, the most convenient methods can be promoted.

How to do it? It is very simple. To make the customer interested in the most convenient payment method for the company, promotions, offers or discounts associated with that payment can be launched. Everyone wins!

Considering the preferences of the client and the conveniences of the business, various payment methods can be selected for your website, for example:

• Credit cards.
• Paypal.
• Bank transactions.
• Offline payments.
• Payment to fortnights without card.

The digital age and payment methods on the web

Customers also adapt to technological innovations, especially when it comes to using mobile phones, which is why payments by cards or electronic devices are becoming more common.

So, to please customers, it is necessary to adapt the web to the current situation. Therefore, it is necessary to have a variety of payment methods , so that it is the client who decides how he wants to pay.