Each eCommerce website needs to have a few essential qualities to function correctly. The ability to get compensated is the most important of all. If you can’t accept online payment methods, your business’s fundamental goal—making money—will be impossible to achieve.
Having one method of accepting payments is needed in the competitive internet economy, but having many methods could provide you with an edge.
Let us look at some of the best online payment methods.
Paypal is among the most popular and well-known digital payment methods. The site has a user base of over 254 million people. That’s a lot of individuals that would find it convenient to buy something on your page if they could use Paypal to pay.
By integrating Amazon Pay into your store, Amazon consumers will be able to purchase with you without providing their payment information at the cash register. It also provides a payment alternative with verified fraud prevention, according to the firm. On smartphones, Amazon’s payment system works well, providing a consistent experience where it counts.
Google is the only company that can fight with PayPal and Amazon for market dominance. Google Pay is the newly launched online payment method. Google claims that so many of its customers have already their credit card details recorded in their Google accounts, implying that adding a Google Pay option will benefit a sizable portion of the population.
Although American Express lacks the market position of our first three digital payment methods, it does possess something equally valuable: consumer confidence. While American Express is not as well-known as some credit card rivals, it’s one of the most significant service quality levels. It prefers to cater to a higher-income demographic than other credit card providers.
Apple Pay serves as a digital wallet and a one-click payment method on sites that support it for consumers who use Apple products, accounting for more than 64 per cent of people in the United States. Consumers may even use personal touch recognition to pay out using Apple Pay on their smartphones doesn’t get any simpler than that.
While Square is best known for in-person point-of-sale (POS) online payments, it also provides eCommerce services. They have a payment API that takes a variety of payment options, including credit card transactions.
Visa Checkout, like American Express’s payment gateway, makes it pretty easy for Visa cardholders to check out on your site without inputting all of their payment details. Visa Checkout has over 2 million users; thus, you’d be helping a sizable chunk of your customers with the purchase procedure.
It allows Mastercard users to check out from your website swiftly and effortlessly. User authentication, digital signatures, issuer verification, and fraudulent tracking are all included in the payment process, as you’d anticipate from a credit card business.
As you’ve seen, you have options available to earning money. However, deciding how many online payment options you want to offer your consumers is more important than picking the ideal one.