What does the term "e-payment" mean?
The term "e-payment" or "electronic payment" refers to all options for payment processing via the Internet. E-payment is particularly important for online shops, as it makes it easy for customers to pay for products and services purchased online. The fact that these payment types offer protection from payment defaults, while at the same time generating as little costs as possible, is key for online shops.
What are the most popular e-payment methods?
Alongside purchase on account and SEPA Direct Debit, the most popular e-payment methods also include credit cards, PayPal, Sofortüberweisung instant transfers, Giropay, as well as e-Wallets - for example from Apple or Google. Given the rather confusing array of payment methods, many of which ultimately disappear after a short time if they are unable to establish themselves, customers are spoiled for choice. Many online shoppers therefore still have reservations regarding new payment methods and instead prefer to rely on traditional options, such as the popular purchase on account or SEPA Direct Debit methods.
Why should you accept a mix of payment methods in your eCommerce operations?
If customers see that their favourite payment method is not available, this often leads to abandoned shopping baskets. This in turn has a negative impact on sales. It is therefore all the more important for online shop owners to find the right mix of payment methods and satisfy as many potential shoppers as possible. Offering the right payment methods is essential for the success of an online shop. Many payment methods, such as purchase on account, in instalments or by SEPA Direct Debit, are very popular among customers. However, they can also represent a high risk of defaults for online shop owners. To be able to offer these payment types despite the associated issues and keep risks to a minimum, shop owners can rely on the support of payment service providers. Offering customers between 4 and 6 payment methods is currently considered standard. After all, a credit check can confirm in advance whether a customer has the necessary credit standing to be offered purchase on account or in instalments. With Unzer payments, this risk assessment is already included.