eCommerce Tip #139: Let your customers use their favorite payment method!

Don’t limit your customers to only one payment option!

Let them use their favorite method. The minimum set includes credit/debit card, PayPal, wire transfer (plus terms for B2B). But don’t overdo it. Too many options will make the checkout unnecessarily complicated.

eCommerce :Let your customers use their favorite payment method!
Tip #139 – © Franco Folini

For every vertical market, country, and eCommerce merchant there is a different set of favorite payment methods. Generally speaking Paypal is more popular among consumer and for small amounts, while credit cards is very common on well established and more trusted eCommerce merchants, like Amazon. The set of favorite payment methods can be very different for B2B sites. Business generally prefer to use credit cards, or terms (net 30, net 60, or net 90). Terms will eventually be paid by check.
Cryptocurrency are supported only by a very small percentage of merchants.

The most popular payment methods for eCommerce in US
The most popular payment methods for eCommerce in US
eCommerce:  Average number of daily cryptocurrency transactions in Q3 2019
eCommerce: Average number of daily cryptocurrency transactions in Q3 2019

Franco Folini lives and works in the eCommerce territory, a wild area between the Kingdom of Technology and the Kingdom of Marketing. He speaks fluently the language of both realms. For many years, Franco has been helping people bridge the divide and successfully collaborate.

If you want to find out more about Franco, visit his LinkedIn profile or send him an email folini[at]gmail.com