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Thursday June 24, 06:34
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Multiple ePayment Options Help To Convert Buyers
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US e-tailers can convert up to 20 per cent more shoppers into buyers by offering multiple payment options, according to CyberSource, with those offering one payment type, now converting 60 per cent of shoppers. By contrast, e-tailers offering four different payment types such as credit cards, gift certificates, PayPal and e-checks, convert 72 per cent of their shoppers. Just 20 per cent of e-tailers offer four or more payment options, with 35 per cent offering two, and 18 per cent, one, but merchants plan to extend their options, with 31 per cent considering e-checks, 26 per cent PayPal and 14 per cent, gift certificates.
Multiple payment options also reduce the incidence of shopping cart abandonment at online storefronts, and target mainstream Internet users who may prefer not to use credit cards, or lack them altogether. Virtual gift cards are also an opportunity for e-tailers, with solutions firm, ValueLink, reporting Internet users to be 20 per cent more aware of gift cards than offline shoppers. Statistically, 54 per cent of online consumers are likely to buy gift cards, versus 37 per cent of offline shoppers, and are more likely to use gift cards (45 per cent) than offline shoppers (26 per cent), which validates the case for virtual gift cards.
(PR Newswire)
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