Why are there multiple online payment options available?

Vicky 2022-03-02

Why are there multiple online payment options available?

Although it is feasible to use safe and convenient online payment methods, many customers still want to use their favorite payment methods online. With the growing popularity of services like paypal, prand and Apple payes, best subscription payment service,customers can easily check out on various websites without having to spend time adding all their payment information and addresses each time. They just need to log in to an account they can use regularly, which is often the case without their device remembering this data information and it may even be unnecessary to do so. This creates a more seamless and convenient experience for them with -- especially in the mobile space, the amount of online shopping is increasing. The higher a visitor's expectation of this convenience, the less likely they are to shop on checkout-cumbersome sites.

Is it really worth the time and effort to add new payment question options?

Bayard found that 19 percent of shoppers who abandoned their shopping carts said they did not trust credit card information on websites. Another 8% of respondents directly stated that there are not enough payment options. So, do a quick calculation: For the average e-commerce store, 70 out of every 100 shoppers abandon after adding an item to their cart. 8% to 19% will give up because they are not satisfied with the online payment methods currently offered. By adding an additional online electronic payment option, conversions can be increased by more than 13 out of 70 shoppers (or 19%). If you add a payment method that your target audience likes, you can switch about five more methods (8% want other payment methods).