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5 Reasons to Accept Multiple Types of Payments

June 17, 2018

5 Reasons to Accept Multiple Types of Payments

It is impossible to miss how all kinds of businesses are going online these days, all over the world. This is primarily because an online store guarantees to connect you with countless customers from your own country as well others, making your business a more successful venture than ever before. While you are excited about offering your products and services to worldwide shoppers, you should not overlook the fact that providing these shoppers multiple payment options is mandatory these days. And consequently, you need a payment gateway like PayTabs that offers alternative payment options and accepts almost all currencies. Why you say? Read on to know the reasons!

  1. To boost your revenue

Offering multiple payment methods to your customers means they will have a better time shopping from your ecommerce store. This is because they will be able to pay whichever way they want, without having to face issues like “Only credit card accepted” and so on. And the more they buy, the more your revenue will shoot up! For instance, PayTabs is a global payment gateway that accepts 168 currencies and offers a wide array of payment options like American Express, Visa, MasterCard, Sadad, Mada, Union Pay, WeChat Pay, Alipay, and K-net.

  1. To keep old customers hooked

Just because your existing customers use a debit or credit card to make purchases from your online store right now doesn’t mean that they won’t look for a card-less payment option in the future! And this is where using a payment gateway that offers quick and safe transactions without any card can be beneficial.

  1. To secure new and repeat customers

By offering multiple payment methods, you will also be able to attract new customers who prefer digital payments using e-wallets. And because gateways like PayTabs also accepts a huge number of currencies, your business will appeal to both domestic and international customers. The number of repeat customers will also go up because once a shopper experiences payment convenience at your store, he will keep coming back for more. For example, if a customer finds that he can easily buy a burger from you through mobile payment wouldn’t he want to do that again? Of course he will!

  1. To promote convenience and sell more

A friction-less shopping experience is all that a shopper wants. And as a merchant, you can offer multiple payment options to make this happen. In other words, if a customer wants to pay through debit card, he should be able to pay through a debit card. Offering this convenience will encourage shoppers to buy more and buy more frequently. If you couple this with discounts and coupons, your sale figure will go through the roof!

  1. To diminish overhead costs

Instead of putting in a lot of money for one expensive payment method, you can go for different payment methods which include low-cost options as well. Especially, if you are the owner of a small business in a risky industry and face a low volume of transaction, you should go for a wide array of payment options to bring in more customers and keep your overhead costs low.

Last but not the least; using a payment gateway that offers many different payment methods will mean increased cash flow. And you surely know that any business can benefit from a healthy cash flow and tide over emergencies easily. So, consider PayTabs as your gateway, offer more “payment choices” to your customers and gain a definite edge over your competition.


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