Offering numerous payment options ‘can increase conversions’ by John Burns
Online marketers could see an increase in conversions if they make a number of different payment methods available to customers, according to Practical eCommerce.
Offering a variety of payment methods to online shoppers could do much to enhance conversions, it has been suggested.
According to Practical eCommerce, a growing number of consumers are using services such as PayPal to make online payments, rather than simply relying on submitting their credit card information directly to retailers.
This is due to the increasing threat of online fraud, the website explained, although some businesses are reluctant to register with PayPal as it generates extra costs for them.
It went on to warn that these retailers could be giving consumers a reason not to buy from them if they prefer to pay with PayPal.
“If you want to increase your conversion rates, then you must be willing to accept the forms of payments your customers most prefer, including PayPal,” Practical eCommerce said.
“By offering several preferred payment methods, you will give customers more good reasons to buy from your store.”
About 153 million accounts around the world are currently registered with PayPal, covering 190 geographical markets and 18 currencies in total.
The online payments service began offering two-factor authentication via text message to its UK users last month.
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