Knowing about the best payment methods for e-commerce is as important as choosing the products to be sold and the layout of your website. Keep in mind that in addition to influencing the closing of new sales, this option also represents a portion of your business operating costs.
To help you make this choice, we've listed a few tips to help you evaluate these options to the best of your ability. Keep up!
Understand the difference between payment facilitators and gateways.
Before making any choice on this topic, you need to understand the difference between facilitators and payment gateways.
While the payment gateway directly links the online store to the billing finance organization, the payment facilitator works by collecting your customer data and settling transactions.
It is important to remember that as the payment gateway eliminates the need for middlemen to finalize the purchase, the customer does not have to leave their online store environment to finalize the negotiation.
This is not the case with payment facilitators, as they require the customer to access a page outside their online store to finalize their order - a factor that can hinder the closing of new sales .
However, it is noteworthy that both means provide the consumer with the necessary security to perform the payment transaction.
Integrate online payment methods with your online store
The online payment methods chosen for your online store need to be easy to integrate with the platform responsible for managing your e-commerce.
This is important because if there is any inconsistency between your store's management and payment platform , your customer experience and customer security can be impaired, directly influencing your business.
So, before choosing online payment methods for your e-commerce, make sure that all the features and characteristics can be integrated into your online store without difficulty, thus ensuring satisfaction with what you want.
When making the choice of payment methods that will be used in your e-commerce, it is important to identify which are the most sought after options for the purchase by your target audience.
Ensure transaction security
You need to be aware that ensuring the safety of your online store customers is not a luxury or even a competitive differentiator, but a must for any online business. Always be aware of this!
Knowing this, it is essential that the online payment methods of your choice follow SSL certificates and HTTPS protocols, ensuring that your customers' confidential data is encrypted with each transaction. The insurance payment should be a priority!
Offer multiple payment options
To ensure the success of your business, it is ideal that you do not miss any sales, especially because it does not offer the payment options your customer needs.
Therefore, it is best to go beyond credit card charges and also invest in payment methods such as bank transfer, wire transfer and even payment facilitators such as PayPal and Mercado Pago.
The more online payment options your online store offers your customer, the lower their objections to buying will increase your sales .
However, it is essential not only to have several options for online payment, but also know how to choose, in the niche of alternatives, the ones that best suit your e-commerce according to the payment preference of the end consumer.
With this in mind, would you be able to tell which form of payment consumers prefer in the online market?
Best Online Payment Means for Your Ecommerce Business
Due to the flexibility, ease and, especially, the speed of paying for credit card purchases online, it is a favorite of consumers.
Many online stores already have the option to save card data for a next purchase, which is great! That way you don't have to type all the numbers again.
Acceptance or rejection of payment is made within minutes of card validation, making product shipping even faster.
This is a great option for those who want to make cash payments but don't want to use a credit card. The ticket is generated on time, without any kind of bureaucracy and can be paid by whatever means the customer wants - internet banking, banking application, lotteries etc.
Since not all online marketers have a credit card, having the option to pay by ticket is a great asset.
Once the payment has been made, the bank usually takes 2-3 business days to clear the amount to the merchant. Therefore, shipping of the product is postponed until this release.
Electronic Funds Transfer - EFT
You can make a wire transfer from the buyer's account directly to the store account. This is a cash payment method, as secure as using a bank slip - but with a faster release.
Many people rely on payment via intermediary. In addition to having a system as secure as those used for card payments, it is also possible to make payment by bank slip.
This is a great way to organize all your e-commerce financial operations so that they work together.
Approval or rejection of payment is quick, assisting in the online store's logistics operations.
Stay tuned for rates
Each form of payment has operating costs that must be taken into account during its planning. You need to carefully consider the best value for money for each option for your business.
You also need to find out which form of payment your customers prefer. After all, they will drive your e-commerce purchases.
Credit cards, for example, have higher rates. In addition to a monthly fee of approximately $ 100 just to offer this payment option, an average fee of 5% is charged on each sale made - a factor that should be taken into account in your pricing policy.
Bank slips are great alternatives to receive cash. However, they present a cost of approximately R $ 4.00 for each business done, regardless of the sale value.
Because it has a low fixed rate, the ticket is one of the most advantageous means of payment for e-commerce to the merchant, who, in contrast, usually offers a discount to the customer in choosing this option.
Payment gateways (or intermediaries) require a fixed charge of approximately R $ 0.65 for each transaction made plus a fee over the payment amount, which can be up to 5% of each transaction.
Please note that in all cases the costs of banking must be included in the overall cost of your online store. Therefore, do not make the mistake of not accounting for this value!
Which payment method for e-commerce is your favorite?
As we have seen, there are a number of e-commerce payment options available that can directly influence not only customer retention but also the success of your business. So be sure to consider your customer profile when reviewing them and compensating for your fee spend on the value of your product. This way, you will not risk losses!
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