While frictionless checkout experiences are vital for any business model, its importance is magnified for ecommerce and marketplaces. Recommended: Cards, wallets, bank redirects, “buy now, pay later” Depending on your business model and where your customers are located, certain payment methods may or may not be relevant. Optimize your transaction costs: Payment methods have inherently different cost structures. As a general rule, the better the level of customer authentication, the lower the likelihood of fraudulent and disputed payments. Reduce fraud and disputes: Anticipate and manage the risks associated with accepting online payments by choosing payment methods that match your risk preferences. Surfacing the right mix of payment options to customers can meaningfully increase the chances that they’ll successfully complete a purchase. Increase conversion: Up to 16% of shoppers abandon their cart if their preferred payment option isn’t available. Without supporting these payment methods, you may risk missing out on the substantial and growing buying power of Chinese consumers. For example, 54% of online transactions in China involve wallets such as Alipay or WeChat Pay, and 20% use the local card network China UnionPay. Reach more customers globally: As you expand into new regions, accepting local payment methods may be necessary to capture the total market opportunity.
This guide helps you evaluate and identify the payment methods that are well-suited to your business model and customer preferences and offers an in-depth look at the payment methods Stripe supports.īy accepting payment methods that are both preferred by your customers and relevant for your business model, you can: While the global payments landscape has become increasingly complex and fragmented, Stripe makes it easy for any type of business anywhere in the world to discover and accept popular payment methods with a single integration. If you don’t create a relevant, familiar payment experience, you could cut off entire countries from your addressable market. While it’s easier than ever to reach a global audience, online businesses are also faced with a new challenge: How do you address the diverse customer preferences of a global audience during the checkout experience? The way customers prefer to pay for goods or services online varies drastically based on where they are located. In fact, a Stripe study found that 70% of online businesses are selling internationally today. As online tools make it easier to connect with global customers, more and more businesses are selling overseas.
0 kommentar(er)
