What are the main forms of online payment?

The last few years have been very busy for payment methods. From a scenario in which money in cash prevailed for many years, we have moved on to a puzzle consisting of several payment options that have shown the benefits that can be implemented in the different sales cycles. Click here for mobile payment hk.

In this post we have gathered several of those forms of online payment that we know today and highlighted some.

The common goal of payment options

Many times, getting the customer to reach the last phase of the sales cycle is not so complicated and if the time for the final purchase has arrived, you do not have the appropriate online payment methods in your business, you could have unwanted consequences. Visit this site for ecommerce payment.

The most appropriate forms of payment are those that cover the needs and expectations of your users. If you have a broad knowledge of your customer, their shopping habits, what form of payment you prefer, etc., you will have them enabled in your business without many setbacks. Achieving it is important because much of the success of the sales cycle depends on that last phase in which the customer decides to pay for the product or service he has chosen. You can know more about how to customize the shopping experience in this post.

You may be familiar with this situation: a customer is willing to pay and a few seconds later he leaves the process abruptly. The first questions that may arise are, what has happened? Why has the customer abandoned the purchase? It is very possible that this customer has not found an accessible payment option, of his preference, so the final result of the purchase process has not been positive. The customer has not found a shopping experience according to their expectations and may not return in the future.

This leaves us with a central idea. The main objective of an online payment method is to improve the shopping experience, and in the evaluation, you make of the available options it is good to take into account how they fulfill that objective, what advantages they offer in this regard.

online payment exist for e-commerce

Overview of payment methods

Many businesses now enable more than one form of payment shows that much of their efforts are focused on making it easier for the customer to choose their payment method. The extremes in this relationship are a business that has only one payment alternative enabled and another in which they have too many alternatives. With both options, growth possibilities are lost, as they almost always neglect the objective knowledge of the public sectors to which they are directed.

A third option with more comprehensive budgets is businesses that are clear about the different customer profiles for which they work. Even so, most do important proactive work, because they know that consumer habits can vary easily. The objective of this proactive work is to evaluate the behaviors of its clients to adjust details, incorporate functionalities or benefits.

Many of the payment methods that arise are an expression of these changes in consumer habits and general customer behavior. We will see the main ones that exist today, with their advantages and disadvantages, and we will also talk a little about those forms of payment that can be paid attention in the near future.

Credit / Debit Cards

They are the most traditional form of payment worldwide after cash payment. A 2017 WorldPay study provides the data that between them covers about 42% of the intention of paying consumers. A significant figure if you consider the diversity of payment methods that exist.

Credit / debit cards are a reference (Visa, MasterCard, American Express, etc.) to a large extent because of the consumer’s support and the ease and confidence they provide in a fairly simple payment process. Having a virtual POS or integrating your online store to a card payment gateway, you can process card payments.

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