Multiple online payment platforms are available for retailers which make it necessary to combine them all as one single system. It gives you the opportunity to increase your profits as long as your transaction method remains flexible. Limonetik offers a centralized and easier online payment system that would improve your online transactions experience.
Online payment: multiple solutions available
The type of online payment system used should depend on the type of the targeted consumers. However, they need to remain secure and simple.
Bank cards are the most used method along with other payment systems such as gift cards, customers’ fidelity point cards, and payment via mobile phone.
Payment methods should be diversified and facilitated if you want to increase your sales conversion rate, have loyal customers, and boost your sales. Customers are very demanding in term of online transactions security. That is why electronic commerce business needs to build trust with its users. However, it is not easy to combine multiple methods of payment for a single purchase. That is the reason why some e-commerce retailers prefer the assistance of a third party online service provider.
Turning to an online payment service provider
Online payment service is an expanding business. Some are more concerned about the security of their transactions while some are interested in international transactions. Each eCommerce company needs therefore to find the online payment platform that best fits its activity.
Various conditions need to be considered when choosing your online payment platform such as:
The company’s strategy concerning sales and targeted areas.
The proposed products and their prices
the targeted customers
Online payment system by bank transfer is the preferred method for providers specialized in offering services to companies since it is very practical when performing professional transactions. Clothing stores and other general commodities shops should, on the other hand, focus on developing other methods of payment. Also, combining all forms of payments as one single system is now possible.
Choosing a multi-channel approach
Most eCommerce retailers offer products and services to private consumers. Therefore, the payment system used needs to be able to manage multi-channel online payments.
Limonetik is specialized in online payment services that allow customers to use different kinds of payment methods when purchasing a particular product. That flexibility may generate an increased sales conversion rate since it favors impulse purchase.
Furthermore, the average basket size might also increase due to the fact that consumers now have higher sums available from different payment systems. Furthermore, this online payment platform allows consumers to obtain gift cards and other rewards that they might use later.