Best Payment Methods for E-Commerce Business

The advent of the internet has opened doors to endless opportunities for businesses. People who couldn’t afford or manage opening a physical brick-and-mortar store have managed to set up online stores, and are doing pretty well at it. If you’re planning on starting an e-commerce store, you should be well aware of essential prerequisites without which you just can’t run an e-commerce website. One of these necessary prerequisites is being able to receive payments. If you can’t receive payments, you can’t possibly make money out of your online business.

If you’re just starting out with an e-commerce store, you may be looking out for the best payment methods that will allow you to receive online payments without too much trouble. If this is what you’re looking for, well, it’s your lucky day. We’ve listed down some of the best payment methods for your e-commerce business that can make receiving payments a lot easier.

1. PayPal

PayPal secures the top spot among all other online payment methods for all the right reasons – efficiency, reliability, and credibility. Want more proof of just how amazing PayPal is? It has more than 254 million users. Adding PayPal as a payment option on your e-commerce store will make it easier for many people to shop at your online store. All you need to do is sign your business up with PayPal and incorporate it as a payment option at checkout. However, something that you need to know when you opt for this payment method is that PayPal charges 30 cents plus 2.9% of the price of each purchase the user makes.

2. Amazon Pay

Amazon Pay is one of the best and most efficient payment methods that you can incorporate into your e-commerce store. Adding the option of Amazon Pay to your e-commerce store will make it convenient for Amazon users to complete their purchases. By adding Amazon Pay to your e-commerce website, you will be able to significantly reduce the barriers to online shopping and allow millions of users to shop at your online store smoothly and confidently.

3. Google Pay

Adding a Google Pay option to your e-commerce store will give millions of users a trusted and convenient payment option. According to Google, most of its users already have their card information saved on their accounts, so adding this payment method will only add comfort and convenience – both of which can play out well in your favor!

The best part about using Google Pay is that Google doesn’t charge you for using their service. It’s absolutely free for you and all of your customers!

4. Visa Checkout

Visa Checkout is one of the most commonly-used payment methods that many e-commerce stores offer. It is also one of the safest payment methods, which further adds to its popularity. More than 2 million people are enlisted under the umbrella of Visa Checkout, so by adding this option as a payment method on your e-commerce store, you’re actually making online shopping on your store easier for plenty of customers!

5. Masterpass

Masterpass is an online payment service by the world-class MasterCard. It’s quite similar to Visa Checkout. It allows MasterCard users to easily checkout after making a purchase on your website. The best thing about the Masterpass service is that it offers the best security during the payment process, which ensures that both you and your customers’ money is safe and secure.

Closing Word

The success of your e-commerce store is highly dependent on how convenient it is for users to shop on your website. Adding payment methods that aren’t well-known to people or aren’t deemed credible will only make people reluctant to buy things from you, especially if they’re looking to pay online. So, if you’re planning on setting up your online store, make sure you add reliable and secure payment options. Adding a variety of options is even better!