When it comes to buying products from e commerce sites, users look for options. Experts associated with shopping cart development are aware of the importance of offering consumers various products.
However, they are yet to realize the importance of providing them with different payment methods. In fact, many will be surprised to know that along with credit cards, people expect alternative payment options. Opting for these new methods can enhance popularity of your e commerce site.
Credit Cards – Any e commerce site needs to provide users with the option of paying via credit cards. Unfortunately, many sites accept only particular credit cards. This can confuse users, thus driving them away.
To remain on the safe side, allow users to make payments via credit cards of different companies. Apart from popular options, such as American Express and MasterCard, you can also accept other cards. These can include Discover, Diners, and JCB.
Bank Account – Some shopping cart solutions allow users to pay via money order or check. Western Union and eCheck are two popular companies that one can consider for paying with the help of these options.
Since the money at these companies undergoes a clearing process, it may take some days to clear. This option is perfect for users who do not want to reveal credit card numbers online.
PayPal – PayPal is the most popular online payment method. Few years back, PayPal introduced guest checkout option. This option allows users to use PayPal, without requiring them to login in the retailer’s site. This has contributed to the tremendous popularity of PayPal.
Google Checkout was introduced few years back. However, as compared to PayPal, it has limited flexibility.
Mobile Payments – Many people these days prefer completing monetary transactions via their mobile phones. Various vendors, including Square and ISIS support mobile payments. In fact, some vendors, such as Zong, Payfone ask only for the mobile number, for completing the payments.
Subscription Payments – Some e commerce sites provide clients with subscription payment methods. Under this method, users are charged a particular amount every week or month.
Instant Financing – Instant financing is widely becoming popular these days. A good example can be ‘Bill Me Later’, introduced by PayPal. This method allows users to make online purchases, without taking help of a credit card. You can provide users with Bill Me Later as a single option. Alternatively, you can integrate it with the PayPal.
Include these latest payment methods in your site to enhance your conversation rates.