Today’s business owners understand that a strong internet presence equals greater conversion. Having a user-friendly online store is part of this equation. Offering multiple, popular payment solutions is another.
Here’s what you need to know about increasing the number of payment options your business offers – and how it can yield big benefits for your company:
Improved User Experience
Nothing is worse than finding that one item or service you’ve been looking for at a great price, only to realize that the company selling it doesn’t take your methods of payment.
Whether that is a credit or debit card or an online payment option like PayPal or Stripe, consumers want to be able to use what they’ve already got on hand to shop at their favorite locations. Offering them the option to pay for your products with multiple methods of payment increases the likelihood that you’ll give them that satisfying, stress-free shopping experience.
Increased Conversion
You’ve seen claims touting increased conversion rates for businesses offering multiple payment options, but is it really true? Can companies really benefit on a sales level from giving consumers more freedom to pay?
The short answer is yes. The more options your customers have in paying for your products or services, the more customers will opt to buy them. This logic comes from the proven fact that over half of online shoppers polled have reported abandoning carts when their preferred method of payment is unavailable. Make their favorite way to pay accessible to them, and they’ll make their money accessible to you!
For more information about which payment solutions will work for your business model, talk to your local provider of payment options. A professional can help you choose and implement your new payment avenues – avenues that are sure to lead straight to greater conversions for your company in the coming year!