You can maximise the profits of your e-commerce store by accepting various payment options. There are so many different payment options that an individual may opt to use when buying goods from your online store that you need to be able to accommodate most modes of payment. Below are the top six methods of payment that your e-commerce store should accept.
PayPal should be among the first payment methods that you should think about. In the recent past, the use of PayPal has skyrocketed, and many individuals and business have adopted it as their primary mode of payment. It is estimated that PayPal is used by over seven million businesses globally. Although PayPal has built-in fraud protection, you should be aware that their fees may be a little costly.
In recent months, Shopify has taken the world by storm due to its ability to offer not just a payment option but also web hosting, seamless integration with Amazon, and payment processing. You also get a 14 day free trial period to get you started quickly, and you don’t need a credit card during that period. With Shopify, you need to pay a monthly fee to keep using their services and most business find this to be expensive.
When you need transparent pricing and ease of integration, Stripe is an excellent choice. With Stripe, you can quickly set up direct debit services and recurring billing for your e-commerce store. You should note that you will be required to provide your shopping cart and website to start selling your goods online using Stripe. There are no hidden fees, and you don’t pay any monthly fees when you decide to integrate Stripe as a mode of payment in your online store.
SagePay has quickly been adopted by lots of individual and business due to their no transaction fees policy and flat monthly fees. It has considerably good reviews from its consumers making it worthy to consider. With SagePay you get a smooth drop-in checkout integration.
5. WorldPay Online
Over 40% of all card transactions in the UK are done using WorldPay. You will most definitely need to accept cards in your e-commerce store, and Worldpay will help you achieve that quickly. With WorldPay, you will be able to receive payment from over 116 currencies which is quite impressive. You will also be able to accept payment from all major debit and credit cards worldwide including PayPal.
According to Payoneer, this platform is used across over 200 countries with more than four million users. Most people consider it to be a PayPal alternative that allows payment from companies all over the globe. Your clients can pay directly using their bank account, and the payments are usually processed fast.
There are several modes of payment that you could enable in your e-commerce store, and you should integrate as many of them as possible. Your customers may be restricted if you only offer specific methods of payment, and it is critical that you provide them with the option that best suits them. Ensure you use several of this means of payment in your e-commerce store and not just one or two.
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