Online payment methods that your e-commerce should not be without

For our online business, one of the most important aspects for a more positive customer experience is payment, which is why we need to know exactly what we want for our e-commerce.

Why you should know how to choose the right payment method for your e-commerce

Despite any possible reservations a customer may have about providing their data online, the different online payment methods have become a necessary tool for any type of online purchase, so whether we like it or not, it's a mandatory process if we want to sell something online. However, depending on what we want to sell, we will have to use one online payment method or another. Below, we will look at some key aspects of the different services available to us.

Types of online payment methods that are essential depending on your e-commerce

Card payment

It is, without a doubt, the most traditional method, being the most used system in online stores in Spain. It has more obvious advantages, such as immediate payment and the ability to collect money in advance.

However, it also has possible negative aspects to analyse. We may encounter higher commissions, and if you have an international online business, you will have to implement the specific payment gateways for each country.

PayPal

It is clearly the big emerging player in online shopping. Its ease of use and constant updates to the needs of customers and suppliers work in its favour. Against it are high commissions (in Spain, they vary from 3.4% to 1.9% + €0.35 per purchase) and the fact that in case of dispute, it always sides with the customer.

Be aware that PayPal tends to side with the customer in case of a dispute, which could be a factor for merchants.

Stripe

Internationally, it is one of the most widely used online payment methods, mainly because it accepts all types of cards, so if we want to sell worldwide, it is a method worth considering, at the very least. Its commission for Europe is 1.4% + €0.25, while for the rest of the world, it sets 2.9% + €0.25.

• Card Payment Most traditional, immediate payment, advance collection.
• PayPal Easy to use, constantly updated, popular for online shopping.
• Stripe Widely used internationally, accepts all card types globally, competitive commissions.
• Bank Transfer Offers greater security for high-value products and customers.
• Cash on Delivery Builds trust in small e-commerce, payment upon receipt.
• Mobile Payment Increasingly popular, seamless integration with smartphones, future-proof.

Bank transfer

This system is mainly used for high-value products, especially because it offers greater security to the customer. One of its main problems is that payment is not immediate, so it can happen that an order is placed but not yet paid for.

Cash on delivery

Another online payment method that, like bank transfers, seems to be increasingly residual, but it is an option to consider if you have a small e-commerce and want to generate trust in potential buyers.

Mobile payment

Increasingly used, the revolution and popularization of smartphones mean that over time we have more possibilities on our mobile phones. Paying with them is a procedure identical to paying with a credit or debit card, and it also seems to be the online payment system of the future.

Financing

Mainly for large payments. It is an option that offers great convenience for the customer, and for a seller, there are financing service providers, such as Sequra, Paga más tarde, or Aplázame, which can facilitate this task.

The way to make a good choice is to consider all these options offered by technological development and the great opportunities of the online world to expand our business.

If you are interested in ecological packaging, take a look at our customised and self-assembling wooden boxes.

Did you like this post about online payment methods? You can subscribe to the newsletter by filling out the form below. You will receive a weekly email with practical tips for smart packaging. Additionally, if you are looking for environmentally friendly packaging that saves money, you can take a look at our