Today’s eCommerce merchants have many choices regarding online payment methods. Ensure you are offering the best online payment methods to your visitors. This article has discussed 10+ best online payment methods for eCommerce sites and the primary information you need to know about online payment methods. Choose the right one for your business.
What Are Online Payment Methods?
Online payment methods process payment information for websites. Before we know how payment processing works, let’s review some of the various payments methods customers prefer for online purchases.
Credit Cards: One of the most popular and common ways to pay offline and online.
Direct Debit: Customers can enter their bank account details, making this equal to paying in cash or by check.
Alternative Payments Methods: This includes wallets like PayPal, Amazon Pay, Google Pay, Apple Pay, and many other online payment methods.
Digital Currency: Very few people do pay with bitcoin or another cryptocurrency.
Online payment methods offer two main advantages to eCommerce sites or businesses.
Make The Checkout Process Quick And Easy
Online payment methods make the checkout process fast and easy. If your checkout process is slow, it has many chances that you will lose sales because of it. An excellent online payment method makes the whole process simple and easy. In this way, you can also capture more sales rather than lose them.
Provide Encryption To keep Your Customer’s Data Safe
Every customer wants a high level of security while doing any transaction. You have to ensure that the sensitive information or personal data they provide you is protected from hackers around the web that look to steal credit card information from unprotected websites. Since online payment methods specialize in processing financial information, they have the proper encryption and security features to keep your customers’ information secure.
Each project requires special features and functionality, as well as has its own complications and issues.
On the other hand, that can be caused by another reason.
The answers depend on the needs of your project, as well as on the capabilities of a certain payment gateway.
We believe it would be of great help to you finding the best improvement opportunities.
At the same time, Stripe saves user’s time: its load time takes 1-2 seconds less than Braintree’s one.
Another considerable analysis factor is webhooks.
Are you working on development of a mobile app that accepts payments?
Well, whether it is an ecommerce app or a service provider app, it is highly likely that you are going to accept payment for your goods or services that you wish to sell.
Payment gateways are here for your rescue and we discuss how to integrate the same in your mobile app and reap the rewards of the same.First, some figures providing a clear idea about the rising popularity of mobile ecommerce.
As per Forrester Research project, mobile ecommerce will touch $144 billion in the US alone, with $38 billion coming from smartphones and tablets contributing $76 billion.
These are huge numbers and you ought not to ignore the same in case you are mulling on selling anything on the internet, particularly when there is tough competition to beat and your competitors are already breathing down your neck!Read more Stuck with payment gateway integration here’s the guide you need
But what we are witnessing in the on-demand taxi app business is quite astounding.
Before entering a new business sector, it is vital to have a plan to structure the functioning of significant players taking part in the business.
Decide on the technologies to be used
For an on-demand taxi app like Uber, technology plays a significant role as the app mainly relies on map integration, payment integration, and identification of device location.
Android – Google Location Service APIs
Android – Braintree, Stripe PayPal’s SDK Google Wallet
And this is where things get complicated.
50% of online shoppers will abandon their carts if your app doesn’t have their favorite payment method. But there are more than 70 payment systems out there! Each has different terms (read the fine print!), fees, and features.
That’s why I’ve already outlined 13 questions you should ask while looking for a payment system. And today I’ll compare three popular gateways (PayPal, Stripe and Braintree) to make the choice even easier.
