Alternative Payment Methods to Include On Your Webstore: From Direct Debits to Digital Currency

different payment optionsAs the holiday season winds down for package deliveries, perhaps one complaint you received from customers this year is not enough diversity in payment methods. Even if you take all major credit cards, customers expect more nowadays since everyone has their own preferences due to various circumstances. When you consider not everyone can use a credit card, how do you expect them to buy from you in a convenient way? You could lose a quarter of your potential customer prospects not offering alternative payment systems.

The good news is that if you think there’s only one or two alternate methods available, think again. So many new options are out there now to offer more choices than ever. Many of these range from direct debits to mobile payments, to even multiple digital currencies. In many cases, you can do these payment systems through established places like PayPal. Here’s some alternative payment methods to include on your webstore to start the new year with a fresh slate.

Direct Debits

The era of everyone owning a credit card has dwindled considerably as consumers realize it can lead to problems. Many don’t want the fees imposed, or the risks of perhaps charging more than they can afford. Some might only carry a debit card, which looks like a credit card, yet takes money directly from their bank accounts. It’s time to allow debit purchases, something you’ve perhaps avoided for years. Bringing this convenience to customers makes them more apt to buy since they’ll only spend money they have available.

Bank Transfers

Otherwise known as wire transfers, allowing this procedure makes it easier for customers to shop if they use multiple bank accounts. They may have to transfer money from one place to another in order to properly pay for a purchase they make with you. While fees are sometimes imposed with transfers, it’s essential to make it part of your payment methods for the added convenience. Otherwise, some customers may hold off buying from you, simply because you demand one bank account for every e-commerce transaction.

Allowing More Mobile Payments

If you’re not already aware, millions of consumers now shop on a mobile device. More specifically, 122 million consumer bought something via mobile during this holiday season. With this evidence at hand, you have no excuse not to provide mobile payment methods. You should allow a consumer to buy with one just one click on a mobile system accessible anywhere in the world.  Your only challenge is making mobile e-commerce easy to use, easy to read, and adaptive for every mobile operating system.

E-Wallets

An e-wallet works in tandem with mobile devices, yet you’re possibly still in the dark about what this is. With an e-wallet, you’re basically providing an online hub that stores all consumer information for future purchases. It means when customers shop with you (at home or on a mobile device), they won’t have to fill out multiple fields to buy something. Ultimately, e-wallets speed up the buying process to avoid any potential of an abandoned digital shopping cart.

Digital Currencies

Providing digital currencies should also become one of your many options. Undoubtedly you’ve heard about bitcoin, despite a lot of controversies over the worth of this currency. Digital currency experts note you need to watch out for crypto-currency, as well as pre-mined bitcoin. It takes some careful scrutiny to do this right, though other digital currencies exist to give you more variety. You’ve probably never heard of Ethereum, Ripple, or Litecoin, but they’re currency alternatives some prefer for more legitimacy.

Contact us at insightQuote so we can help you with your business by finding the right fulfillment center using our vetting services.

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