Payment is the most critical step of an online store; hard, insecure or slow payment makes carts get abandoned. Knowing the options lets you set it up right.
Main methods
- Credit/debit card (virtual POS): Getting a virtual POS from a bank or working through a payment institution.
- Payment institutions: Taking payments through an institution without applying for your own POS; set-up is fast, commissions and payout days vary.
- Bank transfer: Cheap, but order confirmation is manual.
- Cash on delivery: Gives customers confidence, but carries return and collection risk.
- Wallets and instalment options: According to customer preference.
When choosing
- Commission and extra fees
- Payout time
- Instalment and multi-currency support
- Security (3D Secure) and how card data is stored
- Compatibility and integration with the store software; see what is an API integration
Security
Card data should not be stored on your site; the payment page should open at a secure institution. Your site must be on https; see why you need an SSL certificate.
Customer experience
Few steps, a clear total price (shipping included), trust signs. See cart abandonment.
For foreign customers multi-currency and international payment are needed; see selling abroad online. For set-up see our online store setup service. How to set up an online store helps with the overall path.