How to Choose the Right Payment Solution

To create an online store, you have to be detail-oriented. Harnessing this trait will allow you to locate and implement the tools, features and services that are beneficial for your business and your customers. One of the areas that it pays to look closely at is the way your customers pay for their goods.

It’s the final destination in the customer journey: the checkout. Yet many online merchants are reticent to spend much time on it. Did you know that the step where a customer pays is one of the most likely places you’ll lose them? Cart abandonment is an epidemic, affecting online stores of every size, budget and industry.

To reduce cart abandonment and increase conversions, it’s important to nurture a customer at the purchase stage. It’s at this stage in the checkout process where shoppers will encounter your selected payment portal options. These can range from Checkout by Amazon to PayPal Express—familiar payment services that can help inspire trust and loyalty.

On the flip side, you don’t want to overwhelm your shoppers with too payment options. But how do you know which payment gateways make the most sense for your business? Here are a couple of tips to help you choose the right payment gateway as you create your online store.

Do Some Experimentation and Testing

The key to success is to experiment with different features. For your payment portals, implement a few at a time and see which ones perform better in terms of collecting payments. This way, you can let your customers do the talking without actually soliciting them for their advice. If you’re still having trouble, you can always…

Survey Your Customers

 Send an email out to a select number of customers (or your test audience, if you’re just getting up and running). Find out which payment types they tend to use most often. With 3dcart, you have access to more than 100 different payment options, so this can get tricky. To create an online store without getting lost in the number of options, it’s always a good idea to…

Use the Most Popular Brands

Earlier, we mentioned Checkout by Amazon and PayPal Express as solid options for payment processing. They’re both great options because they’re big, recognized brands. If all else fails, adding payment options means running with major brands. Chances are, a seasoned online shopping audience will be familiar with (and already have accounts with) some of the bigger web payment services, increasing the chance that you’ll make a sale quickly and efficiently.

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