How to Choose the Right Payment Method For Your Ecommerce?

How to Choose the Right Payment Method For Your Ecommerce?

With consumers' tastes shifting, retailers need to adapt to demand and have the best variety of payment choices to cater to a wide spectrum of shoppers.

Payments are important for e-commerce enterprises as it involves an accompanying online purchase process with a shopping cart. pa When building an e-commerce website, you will need to consider which types of payment you to choose as well as make payment effortless and secure for the user. By fully understanding the forms of payment that your clients use, or choose for online transactions, you can find it easier when setting up your online shop.

Why should you worry about Payment methods?

Providing payment options is about catering to as many consumer needs as possible and wanting to ensure that customers don’t leave the purchases when they can’t pay in the way they want. 

This could be a concern. The cart abandonment survey results show that 6 percent of shoppers had abandoned their carts due to a shortage of payment options.

In 2018, nearly 48 percent of U.S. customers had a non-bank payment account, such as PayPal, while 60 percent had smartphone applications or online accounts, such as Apple Pay (Atlanta Federal Reserve Bank). The acceptance and use of digital wallets are the largest around younger people. A survey published in 2018 showed that 63% of Gen Y users used digital wallets compared to just 38% of Gen X and 17% of Baby Boomers.

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