'Increase conversions with several payment options'
Visitor Conversion
26 February 2009
E-commerce sites can boost their conversions by allowing shoppers to make payments via a variety of methods.
This is according to Practical eCommerce, which suggested that a significant number of web users are reluctant to make direct credit card payments to retailers online due to fears over security.
Instead, these shoppers tend to prefer services such as PayPal - which has 153 million accounts around the world.
While some retailers may be put off from joining PayPal due to the extra costs this incurs, failing to do so may cost the business vital custom, Practical eCommerce warned.
"If you want to increase your conversion rates, then you must be willing to accept the forms of payments your customers most prefer, including PayPal. By offering several preferred payment methods, you will give customers more good reasons to buy from your store," it said.
PayPal has users in 190 regions and covers 18 currencies overall. It introduced two-factor authentication - where online payments are verified via text message before going through - in the UK in January this year.
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