Why You Should Accept Multiple Payment Options in Your Store

Think about it, why do we accept credit cards in our shops? Almost half of today’s consumers prefer credit card payment before cash. A customer can even cancel their purchase unless you have their preferred payment method in your store. The market is rapidly changing with technology, and merchants need to keep up or get left behind. By offering your customers the ability to choose how they pay, you will ultimately improve your business.

Another reason that your customers use different payment options is that; most of the time, these payment options have their own advantages. For example with AfterPay, your customers can make their payment later. This flexibility in your shop can attract new customers and provide you larger sales.

On the other hand, payment methods such as Apple Pay can be prefered for its high security and speed. The different payment methods which don’t store credit card information or requires less information from the customer are more convenient in today’s terms. Besides that, providing a fast action in the register can be important for you too. If you have a significant foot traffic into your store, Apple Pay can help you to reduce friction at checkouts since consumers can literally wave their IOS device and make the payment.

Grow Your Customer Base and Revenue   

Accepting a variety of payment methods will give to your customers another reason to chose you. With so many retail options to choose today, you should offer different advantages to the consumers. There are more and more payment alternatives being introduced and an increasing demand to cater to these options. Many users like the option of having different methods of payment, which is the reason why this often leads to higher conversions and sales.

The payment methods you offer can also be your references. When a customer sees a business display popular payment method logos – besides Visa, MasterCard, such as; Apple Pay, PayPal,

AfterPay etc.- they tend to feel a certain sense of trust for that business and you will also build trust with your customers as a certain shop. Accepting different payment methods and displaying them can also give you a more professional image.

Payment flexibility also increases your engagement rate because it provides convenience. When you offer your customers the chance to pay how they want, you also encourage them to shop with you again. That is why promoting your alternative payment methods and encourage your customers to use them in your shop is another important point. For some consumers, alternative payment methods might not be popular yet, but you can be sure they will love the idea of buying now and paying later or paying with their iPhones at the register when you offer them this opportunity. In this case, alternative payment methods can also be used as a tool for improving the brand image and awareness.

There are many different kinds of payment options you can provide for your customers. Erply is a cloud-based platform and built for integration. We are more than eager to follow and catch up with the latest opportunities of the digital age! You can check Erply Australia integrations and find a suitable one for your own shop from here.

 

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