Best Payment Methods for Shopify Store

in Blog, Shopify on April 4, 2022

Choosing the Best Payment Methods for Shopify Store e-commerce is essential. Because it is one of the elements that affect the conversion rate of a store.

Choosing the right gateway is not easy, and there are several factors to take into consideration: the sector in which you operate, the commissions, the purchasing habits of our customers and much more.

Of course, one of the most important attributes of a successful eCommerce business is a reliable payment gateway, and today more than ever, people need to feel safe and away from scams and cyber fraud.

When we talk about payment solutions for e-commerce, we are referring to an element as important as it is underestimated, which is why in this article we will try to clarify once and for all.

Why you should offer different Best Payment Methods for Shopify Store

Even if credit and debit cards are the easiest and fastest method of payment, in Italy many still prefer the good old cash on delivery.

While there are reviews, testimonials, and so many other methods and strategies today to increase the authority and trustworthiness of an online brand, offering multiple payment methods can help you increase your sales and grow your e-commerce site.

We are in the final stages of a customer’s purchase process, and proposing the right payment method can make a positive or negative difference.

When it comes to the marketing and sales strategy of e-commerce, the question should not be which payment method to use. But rather you have to start wondering how many viable alternatives can be offered to your new customers.

There are many alternatives, some valid and others not so, which is why it becomes important to choose the best online payment method.How to choose the Best Payment Methods for Shopify Store eCommerce

How to choose the Best Payment Methods for Shopify Store eCommerce

One of the main reasons for an abandoned cart is the lack of clear and specific payment options, and it’s a real shame to miss a sale late in your customer’s buying process.

You have captured his attention with a captivating advertisement, you have created a persuasive landing. Or you have prepared an irresistible offer, how annoying would it be not to close the sale. Because you do not have a fast and reliable payment method?

If you are launching your first Shopify eCommerce Store or looking to increase your store sales, choosing the best online payment method can have a huge impact on your business profits and customer satisfaction by helping you to increase the conversions of your e-commerce.

Let’s see together some of the key points to take into consideration.

Let’s start with safety:

Online purchases can be opportunities for fraud for both customers and sellers. Using a reliable payment method must first offer security and guarantee features. We are talking about technologies capable of detecting suspicious transactions and preventing data leakage without making the purchase process cumbersome.

Next, we look at the fees:

Most payment methods charge a monthly fee for their services, plus the percentage of each transaction. Before adding a payment method to your e-commerce, check these costs carefully.

We also evaluate the shopping experience:

The checkout process must be comfortable and fast, without damaging the customer’s shopping experience. Simple forms must be used, avoiding all those requests for personal data that are not strictly necessary for the purchase.

We handle sensitive data:

When credit card payments are processed, a payment gateway temporarily stores customer credit card information. Handling sensitive data like this is tied to strict regulation and other compliance requirements. Check the accreditation of your prospective payment service provider before committing to a contract.

Below are the most popular payment methods

Today there are always new online payment methods that you can use on your e-commerce, some more popular than others. For this reason, it is important to choose well which ones to use on your store.

As we have seen, choosing the right payment method is one of the many ways we have available to grow and expand the earning potential of e-commerce. But what are the most used online payment methods?
In World the most common methods are:

  • Paypal;
  • Stripe;
  • Apple Pay;
  • Samsung Pay;
  • Google Pay;
  • Shopify Payments;
  • Amazon Pay;
  • Scalapay;
  • Klarna;
  • Soisy.

Not having the right payment methods available will most likely lead to cart abandonment and lost sales.

What is a payment gateway and how does it work

Before giving you the definition of a payment gateway and explaining how it works. It is important once again to understand how much it affects customers’ online shopping behavior.

The goal of a sales funnel, and especially a checkout page, is to get to the purchase as soon as possible.
To optimize an e-commerce site you need to make checkout simple and minimize the number of steps required. There are some payment gateways that also give you the option to automatically fill in some forms, saving time and offering a much smoother shopping experience.

But when we talk about payment gateways what are we referring to?

A payment gateway is a service that manages all payments and transactions made on a website or e-commerce. It has the task of encrypting sensitive data and transferring it from a payment portal, such as a website, to a bank account.

Explaining how a payment gateway works is not easy but in a nutshell. It serves to facilitate communication between your e-commerce. The person who made the purchase and the bank that is to receive the money. To ensure maximum security and avoid data fraud or theft. A gateway must ensure that every transaction is encrypted to protect all sensitive data.

Why should you use payment gateways for your eCommerce store?

To sell online, you can’t help but use a payment gateway. Every e-commerce needs a system to process and process the payment information and transactions that are made when buying a product. We are not just talking about money transfers but also about the security of our customers’ information.

As you can see, there are many payment gateways that you can use for your eCommerce business with a variety of distinct features. Using these gateways will speed up the buying process for your customers. Especially those who manage to finish their purchase with a single tap like Apple Pay.

As security is a major concern of online shoppers, providing them with encrypted and secure gateways will relieve them of the stress of being scammed. With less or no costs compared to other payment methods, payment gateways will also be a preferable system for your customers.

There is no doubt that payment gateways will ease the purchase process and have high success rates, returning you increased sales and conversion rates.

If you want to have a large customer base, you need to make sure your online store is affordable for all of them. People don’t have the same preferences when it comes to shopping online.

Today, online shopping is easier for both merchants and shoppers. Thanks to technological advances and the significant number of payment methods available. It will be better for your business to offer as many alternative payment options as possible to get more sales and increase conversion rates.

How to payment method integrated?

We have seen which are the most popular payment methods for a Shopify ecommerce site. It is time to choose which one to use in our store. And It is essential for a customer to be faced with a simple and fast shopping experience, which is why we must learn to successfully integrate any payment method we have decided to use.

To do this, you need to access the site’s programming code. Even if each payment gateway has different instructions than any other.

In some cases, there are add-ons or plugins to be installed on different platforms such as Shopify. However, it is always recommended to use direct integration through the APIs.

Marketing, investing in advertising and working on SEO for e-commerce becomes all useless when a customer encounters payment difficulties at the time of purchase.

So if you have any doubts about how to enter payment methods on e-commerce, do not do everything alone, but contact a professional agency.

Webrito helps you to integrate the Best Payment Methods for Shopify eCommerce Store

If you’ve already tried to find a truly professional marketing consultant or agency, you’ve probably already invested a lot of time and perhaps even a lot of money into research.

And the good news is, your search can end here.

Webrito is an agency specializing in e-commerce sites for over 3 years, made up of professional and certified developers. If you are looking for the right agency to install or integrate a new payment method on your e-commerce, you need people who already have experience with the platform and who know how to help you in the growth and development of your e-commerce.

If you want to know more and request advice for your e-commerce you can fill out the form below. Together you will find the best solution that best suits your specific case.

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