eCommerce is one of the fastest-growing sectors, and custom payment methods Shopify can help you get your share of success with it. Most businesses are continuously working to grow their product base and market presence. Though there are many solutions, ignoring the Shopify app's payment gateway options is not good for your business.
Modern customers look at modern options for everything ranging from your online platforms, product presentation, deliveries, and payment. Sticking with old-school practices for these aspects can hurt your business seriously. Today we will discuss some of the best custom payment methods Shopify options that can help to suffice the demanding needs of your users.
Popular Shopify apps payment gateways and options in 2022
Buy now, pay later
If your store is missing this custom payment method Shopify, you might be losing some serious sales. Check top performing eCommerce stores, and you will find that most of them are using the payment options like Afterpay, PerPay, QuadPay, and more to facilitate consumer financing.
According to the studies conducted by Digital Journal, the market size of buy now pay later services is expected to reach around USD 90 billion by the year 2029. This data alone can make you understand the urgency to implement this Shopify app payment gateway on your Shopify store.
Cash On Delivery
Cash on delivery is one of the old-school yet effective payment methods offered in the eCommerce industry. No matter what kind of products you sell, this payment model can work equally well for all. The main benefit of using the cash on delivery option is to increase the buyer's confidence.
It also demonstrates your confidence in the product offering of your store, thus building a good image in the user's mind. However, you should be prepared to handle returns and shipping charges for no-show orders. Integrating cash on delivery as a custom payment method Shopify will definitely work in the favor of your business.
Reward Points Redemption
Reward programs are among the popular techniques online stores use to keep the customers engaged and loyal. Customers can redeem these points in multiple ways like coupon codes, freebies, cashback, and more. You can determine the popularity of reward programs with the fact that more than 60% of eCommerce stores have such functionalities.
Many stores offer the option to redeem the reward points for making payments for orders, and it works well for them. If you wish to integrate such functionalities into your Shopify store, hire a Shopify developer today. By ignoring the reward points and their redemption you will be ignoring the most effective way to retain users for extended periods.
Digital Wallets
Digital wallets are gaining significant popularity for a few years, and eCommerce is not untouched by it. You can notice some popular eCommerce stores providing the option to use digital wallets for making order payments. Options like Google Wallet, Apple Pay, Android Pay, and MasterCard Paypass are widely accepted by top eCommerce stores.
Hire a Shopify development company today to add this payment functionality to your store so that your customers can use such digital wallets to complete the transactions. According to a recent survey done by McKinsey, More than 90% of online shoppers in the USA use digital payment wallets. You can well imagine what you are missing.
Prepaid Cards
Prepaid cards or gift cards are also becoming one of the popular methods for payments in eCommerce stores. You might have received a gift card from your loved ones once in a while. The users can use these prepaid cards to purchase products worth their value.
Apart from helping you get more sales, such methods also ensure extended reach because the near and dears of your users will also come to your store for purchasing the products. Wondering how you benefit from it? Well, many of them will become your repeat customers too.
Digital Currencies
If you are yet to integrate functionalities that enable your buyers to purchase your goods and services using digital currencies, you are already behind in the race. The world is shifting toward digital currencies slowly but gradually. Options like bitcoin, Ethereum, and more are getting increasing preference from users to pay for online purchases.
Get help from a professional Shopify development agency to offer this custom payment method Shopify to your users. However, integrating digital currency payment methods can be a bit riskier. Professional guidance is a must thing while making it happen.
Conclusion
These were some of the popular custom payment methods for Shopify that you can choose to delight your customers. Always ensure to hire the companies with experience in developing custom Shopify apps payment gateways so that you can get safe and secure payment options to complete transactions in your stores. Before you decide to integrate any of these payment options, make sure to analyze their feasibility for your store.
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