There are many reasons why you should accept multiple forms of payment on the checkout page of your website, and a trusted credit card processing services provider will allow you to instantly transfer funds from any type of payment directly into your merchant account.
Increasing Conversion Rates
Many studies have shown that customers who leave a website before making a purchase usually leave the website while they are on the checkout page, and some of these customers leave the website because the company doesn’t accept a certain form of payment.
By accepting many forms of payments,, a website owner can significantly raise the conversion rates that the checkout page generates.
Many customers are wary of websites that only accept one or two forms of payment, and customers view these types of websites as unofficial or sketchy.
Accepting many payment methods will ensure that customers know that the business is legitimate and well-organized.
Sometimes, a customer may not want to give the business a credit card number or a bank account number, and if the company only accepts credit cards and bank transfers, the customer may shop on another website.
By accepting payments from many trusted online payment processors, a business can allow customers to make payments by using secure accounts with these processors that do not share the customer’s personal or financial information.
Accessing The Funds Quickly
In the past, business owners who used merchant accounts had to wait for several business days before they would access funds from a bank transfer or from certain online payment processors, but now, business owners can access these funds instantly.
As soon as a customer has made a purchase, the business owner can transfer the funds to a different account or spend the funds by using a credit card that is tied to the company’s merchant accounts.
Using Multiple Payment Methods For One Purchase
Various studies have indicated that customers are using more than one payment method to make purchases online more frequently than ever.
A credit card processing services provider can allow a business to accept fractions of the total price of one relatively expensive item from several types of payment methods.
There are many benefits to accepting multiple forms of payments on a checkout page. Some of these include increasing conversion rates, improving customers’ confidence in the business, increasing revenue, the ability to access the funds quickly and allowing customers to use multiple payment methods to pay for one purchase.