What are the most popular payment methods used in online stores?
E-commerce is gaining popularity in today’s times, and one of the key aspects of this business is choosing the right payment methods. Several factors influence the choice of a suitable method, such as transaction costs, availability for customers, payment security, and others. Below are the most popular and effective payment methods in e-commerce.
1. Credit/Debit Cards – This is the most popular payment method in e-commerce because it’s simple and convenient for customers. Credit cards are also fast and secure, and since most people have a card, this method maximizes reach.
2. Bank Transfers – Another popular payment method in e-commerce that is safe and convenient for customers but may require additional time to process transactions. For international transactions, additional fees may be required.
3. Electronic Wallets – This rapidly growing payment method in e-commerce is becoming increasingly popular due to its convenience and security. Electronic wallets allow customers to store their financial resources on their account and pay for purchases without having to provide credit card details or bank account information.
4. Cash Payments on Delivery – This payment method is targeted towards customers who prefer cash payments. After ordering, the customer picks up the item and pays in cash upon delivery. However, this method can be costly for sellers due to additional costs associated with processing cash payments.
5. Installment Payments – This payment method is targeted towards customers who want to spread the cost of their purchases over several months. Installment payments increase accessibility for customers but may increase costs for sellers due to additional fees related to installment payment processing.
Choosing the right payment method in e-commerce is crucial for business success. A good payment method should be convenient, secure, and accessible to customers while providing low transaction costs for sellers. A well-chosen payment method can contribute to increased conversion rates.
Which specific payment gates can you use when building your own online store?
Payment gateways are one of the most critical elements in e-commerce, enabling sellers to receive payments from customers online. In Poland and Europe, there are numerous payment gateways that offer various payment methods, differing in transaction costs, supported currencies, and integration with e-commerce platforms.
In Poland, one of the most popular payment gateways is PayU. This company offers a wide range of payment methods, including credit cards, bank transfers, mobile payments, and installments. PayU is well-integrated with many e-commerce platforms, such as Magento, WooCommerce, PrestaShop, or Shopify. PayU customers can also use the PayU Installments system, which allows customers to split payments into instalments.
Another popular payment gateway in Poland is Dotpay. Dotpay enables receiving payments via credit cards, bank transfers, mobile payments, BLIK, and other methods such as PayPal or Przelewy24. This company offers dedicated solutions for the e-commerce sector, including installment payments and integration with popular platforms like WooCommerce, Magento, PrestaShop, and Shopify.
In Europe, one of the most widely used payment gateways is PayPal. PayPal is an online payment platform that enables sending money and making online purchases. PayPal offers a range of payment methods, including credit cards, debit cards, bank transfers, and mobile payments. PayPal is well-integrated with many e-commerce platforms, such as Magento, WooCommerce, Shopify, or BigCommerce.
Another popular payment gateway in Europe is Stripe. Stripe provides solutions for companies that want to accept online payments. This company offers a range of payment methods, including credit cards, debit cards, bank transfers, and mobile payments. Stripe is well-integrated with e-commerce platforms like WooCommerce, Shopify, Magento, and also offers API for developers who want to integrate their own payment solutions.
It’s also worth mentioning payment gateways like Klarna or Amazon Pay, which are gaining popularity in Europe. Klarna is a Swedish company that provides financial services, including installment payments and factoring. Amazon Pay is an online payment service offered by Amazon, enabling customers to make payments on other websites using their Amazon account.
Are you looking for an e-commerce website builder or internet website developer?
If you don’t have an online store yet and are looking for a developer, use the below form. We specialize in building e-commerce stores and websites as well as advertising campaigns since almost two decades in Poland and abroad, we can help you. A webshop or website, it doesn’t matter – we do everything in any language, any necessary integrations.
