What do you think are the most popular payment methods online? It all depends on the habits and preferences of clients. Someone is used to using Yandex.Money or the QIWI purse, and someone is more comfortable paying by card. There will be those who prefer alternative payment systems. So how can you please all customers? Consider the most popular payment methods, which we will talk about now.
Payment System Aggregators
What are they? Special services that cooperate with dozens of different payment systems and allow using them to accept payments for goods. According to statistics, aggregators are used by about 66% of stores.
Money Online
Another worthy aggregator that offers more than 40 different payment methods. Among them: electronic money, bank cards, cashless transactions, mobile payments and crediting through terminals.
Robokassa Payment Service for Online Stores
To start working with this system, you need to submit an application, sign an agreement and make a few simple settings. Online stores on a 1 °C-UMI constructor connect “Money Online” without any difficulties.
Yandex.Kassa
A young aggregator to which 90 000 online stores are connected. The system works within the Russian Federation and in any other countries. Legal entities and individuals can use it. Among the connected methods of payment are electronic invoices, bank cards, communication stores, terminals, credit services, etc. For transactions Yandex. Cashier removes a 3.5% fee. By the way, this aggregator you can easily connect to your online store on 1C-UMI.
Electronic Payment Systems
These are special wallets that allow you to pay for purchases on the Internet. Among domestic solutions, three payment systems are in the greatest demand.
WebMoney
This system is one of the oldest (established in 1998) and most protected from hacking and phishing (obtaining personal data by fraud), although, unfortunately, not very convenient for use. It allows you to accept payments in any currency. A fee of 0.8% of the transaction amount is charged for the transfer of funds.
QIWI
An anonymous system of electronic payments. You can register and make payments only with a cell phone number. It is not a bad option for business, but take into account that if you exceed the limit of 60 000 rubles for the withdrawal of money you will have to pass the identification through QIWI support.
Yandex. Money
Yandex. money is one of the most used and convenient online payment systems. You can accept payments directly through internal transfers or with the help of cards, payment terminals, online banking and ATMs.
Alternative Methods of Payment
Many stores practice cash on delivery – payment for the order upon receipt at the post office. Such payment is more profitable for the buyer, as he does not risk anything. However, if you look at the situation from the seller’s point of view, there is a risk that the client will not take his order and the store will have to pay for the parcel’s stay at the post office and the return delivery of goods at his expense.
Cash on Delivery for Online Stores
Cash payment is still a valid option. Risks of technical errors are reduced to zero, as in the case with electronic payments. Cash payment implies a direct exchange of goods for money at the point of delivery or by courier if the buyer has ordered home delivery. Choose the payment methods that are convenient and profitable for you!
Advantages of Electronic Purses
The use of e-wallets is most typical for people between the ages of 55 and 64 compared to other age categories, although in general it cannot be classified as widespread. This method is highly appreciated for the speed of payments, convenience when paying for certain types of services, data security, and ease of recharging. Electronic wallets are often used when they do not trust the seller or do not want to enter the data of a bank card, but among the most frequent problems are technical errors and problems with authorization.
The use of mobile payment systems (ApplePay, GooglePay, SamsungPay, contactless wallets) is popular among young people, who actively pay for games and content subscriptions this way. Mobile payment systems are also recognized as the most convenient means of payment due to their speed and ease of use. Interestingly, when asked about the disadvantages of different payment methods, users named mobile payment systems as the method with the least number of problems (except for cash payment).
Payment Terminals
Payment terminals are most valued for their speed, also a small commission is important for terminal users. Through terminals most often pay for online games and mobile communications, while in other segments the share of using this method of payment is rather low (less than 1%). Fast payment systems and cryptocurrency are far behind the listed methods and are used relatively rarely, and men pay this way a little more often than women. It is interesting that users named speed and small commission as advantages of fast payment systems, i.e. the same advantages that are appreciated by terminal users. Systems of quick payments are practically not used for payments for goods and services. Today there are only three segments where the share of such payments exceeds 1%: these are professional services for individuals, online games and mobile communication.
Payment Methods
The variety of payment methods offered depends primarily on the business segment: where different payment methods are available, the number of popular methods (cabs and food ordering) is also growing. So, the greatest variety of methods demonstrates the sphere of ordering ready-made meals, and the smallest – payment for air and train tickets. The main factor for choosing the payment method is commission size: 25% of respondents pay attention to this index in the first place, and among other 53% named it as the second most important factor after data security. The availability of cashback or loyalty programs is almost unimportant for the majority of users. For example, mobile communications and the Internet are most often paid for via e-wallets and Internet banks, utilities are paid for via Internet banks and cash, and e-wallets and mobile payment systems are in demand for content subscriptions.
Bottom Line
Accept payments in your online store by all popular methods: credit cards, cash, e-money, online banking, cell phone account. The director’s passport is enough to connect. You can submit all the documents in your personal cabinet. If everything is all right with them, it takes three days to complete. It’s all online payment! We hope that the article was useful to you!