Why have several payment methods on your website

Having different payment methods on your website is essential these days. Customer convenience is vital in any business, so offering different payment options will make customers 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 the growth of the business. Offering other options allows customers to select the method that best suits their needs, thus enhancing the sales process.

What do statistics say about payment methods?

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

These, in turn, vary between debit or credit cards, electronic wallets and banking operations.

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

Why should you include multiple payment methods?

We are dealing with 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 why the need to implement simultaneous methods that offer ease of payment, user comfort and tools that increase conversions is growing.

Another reason to offer multiple payment methods on your website

Studies show that when a consumer tries to make an online payment and for some reason the payment fails, 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, they find it a cumbersome method with no options to facilitate the process. And the fact is that 65% of banking institutions approve the operations, but the other 35% are rejected because they are unusual transactions .

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

Choose a variety of payment methods for your website

Choosing which payment methods to offer to customers is necessary, as this is a factor that directly influences purchases. In this sense, payment methods that offer advantages to the business must be analyzed:

• Commission
• Flexibility
• Configuration
• Accessibility and management

Now, you should not only think about what is convenient for your pocket, it is also important to think about the customer's convenience. Depending on the payment methods you offer, the consumer determines whether they make the purchase or abandon the process.

The client, for his part, mainly focuses on:

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

Once you know the benefits of each payment method, it's time to choose the right one. Although you don't necessarily have to choose just one method , since by offering freedom you ensure that one of the methods will interest the consumer.

Therefore, you need to be able to adapt to the customer's comfort level and thus counteract the number of unfinished sales . What you want to avoid is that the customer adds a product to their cart and at the time of 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 additional cost for the business due to payment gateway fees, the most convenient methods can be promoted.

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

Considering customer preferences and business conveniences, you can select various payment methods for your website, for example:

• Credit cards.
• Paypal.
• Banking transactions.
• Offline Payments.
• Payment in fortnights without a card.

The digital age and online payment methods

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

So, to please customers, it is necessary to adapt the website to the current situation. Therefore, a variety of payment methods must be available, so that the customer can decide how they want to pay.