With the constant evolution of payment methods over the past decade, it has become indispensable for small and big businesses to provide their customers with various payment modes. The evolution of digital payment, driven and accelerated by the Covid-19 pandemic, has resulted in a about 42% increase in global cashless transactions.
A business owner trying to establish their business on an online platform firmly has to focus on more than just the quality of products & services they are providing. In order to efficiently carry out a business, the owner must focus on properly executing the payment and delivery services. Studies reveal that online eCommerce platforms that provide diverse payment modes tend to have a more substantial customer base.
A world-famous eCommerce platform, Shopify is one such business that provides its customers with a wide range of payment methods.
Some of the best payment method for shopify include credit and debit cards, net banking, cash-on-delivery service, bank transfers, and digital modes of payment like PayPal, ApplePay, and Google Pay.
Here is a list of payment methods for Shopify you can go for to ensure an efficient and smooth payment transaction.
PayPal is considered one of the best payment methods for Shopify due to its simple and smooth setup. It offers its users the option to avail of its free service for transactions and a premium one with an increased number of features and facilities. PayPal is a widely used and admired digital platform due to its extensive range of customization choices, simple cart integration, enhanced mobile checkout, payments from overseas customers, and online invoicing.
Amazon Pay is yet another payment method supported by Shopify. It is widely known for its quick set-up and easy use. The platform makes transactions effortless by capturing the user’s personal details from their amazon account and directing it toward Shopify payment details. Additionally, Amazon Pay is immensely appreciated for its committed customer support service and meticulous guidance toward new users.
The stripe payment platform is an excellent choice for international and foreign customers. The best aspect of using Stripe as your payment method is that it allows payment using various currencies. In addition, it allows people to make transactions using payment gateways like Apple Pay and Google Pay. Additionally, it has services like electronic wallets and one-click transactions.
Authorize.net is considered one of the best payment methods supported by Shopify. It is a perfect fit for almost all kinds of businesses, ranging from small to big ones. It is thoughtfully created to meet the needs of every business.
And it provides end-to-end checkout, efficient customer profiling, and tokenized payment methods. Additionally, it is equipped with the feature of protection from digital fraud and theft. It utilizes a rule-based effective screening filter and billing mechanisms to warn and prevent fraud.
Although Shopify offers many payment methods, some of the best modes are listed above. The abovementioned list comprises the payment method with exceptional features and a reliable reputation. One must carefully finalize the type of payment method one wants based on factors like transaction fees, target audiences, acceptable card types, fraud detection capabilities, and client testimonials.