Marcus Richards
Technology has influenced customer expectations so much that if your business hasn’t adapted to the many technologically advanced features, then you probably won’t have many customers. The number of available payment options can make or break a purchase.
Whether you’re running a land-based or ecommerce business, you have to know all the possible payment options your target market uses and support as many as you can. The business world has changed a lot and this is no longer a time where supporting only debit and credit cards is acceptable.
Many customers do not finish their purchases mainly because of the unavailability of a payment method more convenient to them. That’s how many businesses lose customers. So, yes, multiple payment methods are a must for businesses and the reasons are below.
More Reader To Customer Conversions
Imagine you land on a website and read about an ideal online casino. It has all the features you’ve been looking for, accepts players from your region and it’s licensed and trustworthy. You’re so excited and decide to join the casino only to find that it doesn’t support e-wallet payments which are faster and more convenient to you.
You could make a payment using a debit card but it’ll take days when the time comes for you to make a withdrawal. That’s what happens when a business supports a few payment options. With more payment methods to choose from, you’d turn such excited readers into customers.
You can have all the products a customer needs in your store, or a safe and secure casino, but if the payment methods they use aren’t there, they can’t pay for them and will find an alternative. It’s especially important for withdrawal times. It’s not a shock that with digital wallets accepted by 32red that the 32red withdrawal times are appealing.
Less Abandoned Carts
With multiple payment methods, chances are that every potential customer who finds what they’re looking for, will buy from your store. The best way to include as many methods of payments as you can is by thinking about what your target market needs.
What traditional payment options are still widely used where you sell? Which e-wallets have most of your customers adapted to? Are there any crypto users? Once you get answers to these questions, you can have an idea of which payment providers to partner with first and which to add as time goes.
When you satisfy as many customers as possible in this part, then you’ll have less abandoned carts. There’ll be less reasons for customers to leave the items they’ve already picked without paying for them.
Inclusive To Various Customers
When you have many different customers, either from different economic classes or geographical areas, you must have a long list of payment methods. This will help make each of your customers feel included and welcomed to make purchases every time they want to.
It can also help you gain even more customers. When you do something with customer needs in mind, your existing customers are likely to spread the word and recommend you to people they know. More customers will come flooding in, increasing your profits.
Bottom Line
If you’re considering opening a business or have an existing one that doesn’t seem to attract a lot of customers, check if you have enough payment methods. The internet and the existence of e-commerce businesses has made it so easy to find an alternative today.
So, sometimes selling the right product isn’t enough, there must be enough payment options available for customers to pay for it. Hence you’d find that many online casinos and global retailers have many ways available for you to pay.
Once you master this part of your business, you’ll gain many customers who’ve read reviews on your products or services. They won’t abandon their carts when they get to the payment section and they’ll feel that you intentionally ensured that they’re included when they see a long list of ways to pay.
GIPHY App Key not set. Please check settings