A payment method is one of the most vital things a successful e-commerce store needs. Without a quick and easy way to get paid, your online store can’t give customers what they want, and you can’t make money.
So, payment must be a top priority whether your B2B e-commerce business is just starting or is already doing well. But it can be more challenging than it looks to choose a way to pay.
There are many things to think about, such as the payment options in your area and how well they might work for your business. There’s also the problem of choosing from hundreds of local and international opportunities.
Here are the best eight online payment methods for e-commerce
Not every e-commerce site is the same, and neither should your payment methods.
Here are the exact things we looked at when making our list. Use it to help you find the best payment method for your eCommerce website as you do your research.
Create a new account and quickly add the desired payment options using Pay.com. Within minutes, you may start bringing in sales. Making your customer feel unique is the main focus. When you give people the freedom to shop how, when, and what they want, they’ll be sure to return for more.
With these updated methods of payment, each customer is free to choose the payment option that best suits them. Their system remembers your customers’ favorite payment methods so they may quickly access them the next time they buy on your website.
When you think of payment gateways for e-commerce businesses, PayPal is probably the first thing that comes to mind. And I know it’s good because it protects customers more than it covers vendors.
It can be used in 203 different countries and accepts payments in more than one currency. It’s the perfect payment method for big and small businesses just getting started.
And here are the two kinds of PayPal business accounts your company can get. Businesses that want to simplify their payment solutions will love how easy it is to set up a PayPal standard payment account.
You don’t pay a lot of fees for this account. There are no cancellation or setup fees, and you can use different currencies with just one account. This makes everything easy and convenient if you have customers from all over the world.
03. Pay with Apple
It is a mobile payment service from Apple. The method works like a digital wallet that lets you pay in stores without touching anything. It also offers one-click checkout on e-commerce websites, where customers can pay with a simple touch. This gives your customers a lot of ease and flexibility.
If your customers are among the 65% of adults in the U.S. who use iPhones, they are likely to accept Apple Pay.
The service also uses 5 Strong security measures. To protect customers, it uses tokenization, which replaces customers’ payment information with random tokens. The service is also free for merchants, which is a big plus.
04. Western Union
In New York, Western Union began as a telegraph company. In 1971, it added a service to send money to other places. The wire transfer was the first payment method that the company made famous.
Since then, it has added mobile money transfer and peer-to-peer payments to its services. Western Union is one of the largest companies in the world that helps people send and receive money.
2CheckOut has more than 100 different currencies in more than 211 countries and gives users two different ways to check out: the standard and inline.
A standard solution is a way for users to pay in person that doesn’t take place on the site.
And the inline gives customers ways to pay online, making contactless payments more accessible and streamlined.
Of course, they also let you send money to other countries but keep in mind that their exchange rate is about 5% higher than usual.
There are so many amazing businesses you can start if you’re a digital nomad. This is especially good for businesses that offer digital services.
06. Credit/debit card
They provide the foundation of the vast majority of contemporary methods for making purchases online. Customers often add funds to alternative payment methods, such as digital wallets, using credit cards as their method of choice. Similarly, individuals might approve payments to be made with their debit card via their bank, utilizing the money they already own.
The fact that B2B customers prefer started trying payment methods is another argument in favor of considering this option. Since the beginning, American Express, Visa, and MasterCard have been at the forefront of the card manufacturing and payment processing industries. Because of this, B2B customers, particularly small firms, place their faith in them. Because of this, there is a compelling argument for online retailers to incorporate them.
Boleto is one of Brazil’s most popular ways to pay for things. The service uses the payment information printed on paper or digital vouchers. And also, these vouchers have a barcode, minimal payment information, and information about the sender and receiver.
Boleto is a fast and easy path to pay for things locally in Brazil. Shoppers can pay at thousands of locations all over the country. The service uses “push payments,” meaning that sellers send the payment information to their customers, who can pay when it’s convenient for them, either in person or online.
The Importance Of Using Trusted Payments Methods In E-Commerce
Customers seek a decent bargain on a service or product and a simple and secure payment method when they visit your eCommerce site. When making purchases from your eCommerce website, your customers should feel confident in the payment gateway you have selected for them to use.
Online payments, customer data, and other private information may be sent more easily and securely thanks to secure payment processing, which protects businesses from fraud and other security risks.
Indeed, people are increasingly using the internet to do their shopping since it is convenient and inexpensive. However, this does not imply that there are not any problems or drawbacks associated with eCommerce. When it comes to doing business online, smaller enterprises can encounter several obstacles.
Even while eCommerce safety and payment systems can guard against fraud and other security risks, online retailers are still at risk of compromising their security.
End of the line
Each customer has a different way that they like to pay. The best online payment gateways and shopping carts allow for more than one payment type so that everyone can use them. All the suggestions in this article are leaders in their fields and have low fees.
The following list is just a sample of the many online payment gateways available for eCommerce. You should never take choosing a payment gateway as a hurdle in establishing your new online business, even though making this option might be difficult. It is worthwhile for you to learn a deep overview of how to start an online business.
It is preferable to be aware of the landscape of online payment processing whether you are running your eCommerce shop individually or joining forces with an agency. This will allow you to exploit the online platform’s maximum capabilities and take full advantage of its benefits.