If you own online business, you should assess the distrust that buyers have when paying over the Internet. Giving money without seeing the face of the recipient or having the product or service at hand causes a logical fear of being swindled.
The majority of consumers in Spain own smartphones (91 per cent), closely followed by laptops (83 per cent). Right now, technology provides the largest volume of online transactions between businesses and consumers. But the real currency of e-commerce is trust.
In addition to offering transactional security that protects customer data, a great way to gain confidence in the transaction is to offer different forms of payment. In this way, the buyer will be able to choose the one that arouses more confidence. He thinks that, if he does not offer a form of payment that gives him security, that potential customer could go to the competition with a single click. Here are up to 8 different payment methods for your online store so you can choose the ones you think are most convenient.
Payment by credit card
It’s the most common of all. Customers must enter their credit card details, which can lead to fear of fraud. It can be done through a payment gateway of some bank, through a private entity that is not a bank or with your own SSL.
Payment by cash on delivery
The customer pays when he receives the product. This gives the buyer more security, although he usually has to pay a surcharge for using this form of payment.
Payment by bank transfer
Increasingly used, as many people do not pay commissions with that service. As with a credit card, you pay before you receive the good or service, which is an advantage for the merchant. The drawback is that money can take up to 48 hours to arrive.
Payment with escrow
It consists of the buyer not paying the seller directly but leaving the money in a third party account on deposit. The money is not transferred from that account to the seller’s until the buyer receives the product and checks that everything is correct. It is the safest form of payment that exists today, as it avoids any possibility of fraud. truust offers you the possibility of incorporating escrow as a payment method in your Marketpay.
Payment with PayPal
The customer does not have to give his card details and, for the merchant, it is very easy to install in his online store, although it carries commissions. In the case of fraud, you can wait up to 180 days for a dispute to be resolved, often with heads or tails.
Payment with gift vouchers
Above all, they are used to build customer loyalty. They usually only have to redeem the code on your website to get discounts or gifts. They should be given as a reward to regular customers or to promote your store.
Pay with Google Checkout
This is the payment system developed by Google. Its popularity is far from that expected by the Internet giant, although it is increasing. The great added value of this alternative is its ease of payment from the smartphone.
Payment with bitcoins
Bitcoins are those virtual coins that are used only to buy and sell on the Internet. Its use is not very widespread, but it has its followers. Accepting them in the store could attract people who have money in this electronic currency.
Payment solutions for your Marketplace
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