Boost Your Shopify Store Conversion Using These Payment Methods
Payment is still a major concern for online shoppers. Sharing confidential details on any platform is a matter of concern especially when we hear the news of online robbery every new day.
But, Shopify offers 100% safe and secure payment methods, not 1 or 2 but 6 payment methods that buyers can choose from for easy shopping.
It has been observed that many buyers give up on the payment option as there is no better payment option that they can choose and move on. Many buyers consider COD (Cash on Delivery) a safe option. At the same time, many people want to swipe credit cards for purchases.
If your website is built on the Shopify ecommerce platform, then you can take advantage of all such payment options for your buyers.
If you are an online retailer, you need to ensure that customers will have enough modes of payment that they do not miss out on a purchase due to inconvenient payment options. If they miss a payment, it increases the bounce rate and affects the conversion rate.
Customers come to your site, add items to cart, and add personal details, but leave during the payment phase.
Read this article to get enough information about the payment methods that Shopify offers to increase your sales and improve conversion rates.
1st – Shopify’s purchase on account
Whenever customers choose this option, they have approximately 14 days to pay for the purchase. It does not have to be paid immediately, which is why many people prefer this payment option. About 43% of Germans choose this option because they are more concerned about security and will not share sensitive bank details on online platforms.
2nd – PayPal with Shopify
PayPal is a world famous payment method. If you are a retailer, you will get the amount instantly from PayPal. And, a few days after the payment, PayPal debits the amount from the buyer’s bank account via debit. PayPal ensures the safety of the buyer and if they do not receive the goods, PayPal fully compensates them. This makes it the most commonly used method. This method is most popular in Europe.
3rd – Stripe and Shopify
Processing of payments takes a long time so most retailers want it to be automated. As you run an ecommerce store, you will have new customers every new day. And, you must build good relationships with buyers and new customers. If you don’t want to spend much time behind the payment process and want it to proceed automatically, you’ll need a Shopify and Stripe account.
Integrate Stripe with your Shopify account and if you have an existing customer with any changes in buyer details, the customer data will be updated automatically and you can also keep track of some essential information about the customers.
4th – A credit card with Shopify
The owner of the credit card knows his capacity and with this consent agrees to the payment. He proceeds for the loan from the credit card issuer for the amount and this is how the payment method works. If your target audience is international and above 30, you should enable them to reach this method as they mostly prefer credit card methods for payment.
5th – SEPA direct debit with Shopify
In the payment method of SEPA Direct Debit, money is withdrawn directly from the buyer’s account by the online retailer. The customer doesn’t have to worry about anything, that’s why this payment method is better and you should include it as an option for your buyers. It offers lower transaction costs and fewer defaults as the money is withdrawn directly from the customer.
6th – Klarna with Shopify
This payment method is known for making purchases on the account. With the traditional mode of purchase, the buyer himself has to take care of the transfer. But, Klarna handles the purchases between the dealers and the customers. This method is mostly adopted by people of 20 to 40 years. The payment method allows you to get higher conversion rates as each target group is comfortable using this method.
Therefore, Shopify is the most preferred ecommerce platform because it solves the payment related concerns that buyers usually have.
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