Expanding your e-commerce business into international markets presents both opportunities and challenges. Whether you’re targeting customers in the United States, Australia, or other countries around the world, understanding the local payment preferences and providing a seamless, secure checkout experience is essential for driving sales and fostering customer loyalty. In this article, we’ll explore how Shopify merchants can boost their sales by offering a variety of popular payment methods, local and international currencies, and how EasyPie Checkout, powered by Stripe, makes this integration simple and cost-effective.
Expanding into the US Market
The United States, as the world’s largest economy, presents a massive opportunity for businesses looking to expand their reach. In 2022 alone, e-commerce revenue in the US totaled a staggering $905 billion USD, and this figure is projected to continue growing. However, businesses hoping to tap into the US market face several challenges, including the diversity of payment options, regulatory requirements, and concerns around security and compliance.
Despite these challenges, the potential for growth is enormous. Understanding the payment preferences of American consumers and adapting to their expectations is key to unlocking this lucrative market. By integrating a variety of payment methods, such as credit and debit cards, digital wallets, bank transfers, and even “Buy Now, Pay Later” (BNPL) options, Shopify merchants can offer a competitive and tailored payment experience that meets the diverse needs of US shoppers.
The Australian Payments Landscape
Australia’s e-commerce market is also a significant opportunity for Shopify store owners. According to Mordor Intelligence, the Australian payments market is projected to grow from $920 billion AUD in 2024 to $1.97 trillion AUD by 2029. As more Australians shop online, providing them with an easy and secure payment experience is vital for businesses looking to tap into this expanding market.
In Australia, payment preferences are quite diverse. While credit and debit cards are still the dominant payment method, Australians are increasingly using digital wallets such as Apple Pay and Google Pay. Additionally, "Buy Now, Pay Later" services like Afterpay have seen explosive growth in recent years, particularly among younger shoppers. As such, understanding how to accept these payment methods is crucial for businesses aiming to succeed in the Australian market.
The Power of Stripe and EasyPie Checkout for Shopify
To help Shopify merchants expand into the US, Australia, and beyond, integrating Stripe with EasyPie Checkout offers a seamless, powerful solution for accepting a wide variety of payment methods and managing international payments. Let’s explore how these tools can help you boost your Shopify sales.
1. No Additional Fees from Shopify
When using third-party payment gateways, Shopify store owners often worry about hidden fees that can eat into their profit margins. This is especially true when it comes to international payments, which can come with added processing fees. Many payment processors impose extra charges for handling payments, especially when dealing with different currencies. With EasyPie Checkout, however, Shopify merchants can enjoy no additional fees beyond the standard payment processing fees outlined on Stripe’s pricing page.
This transparency in pricing is incredibly beneficial for merchants who want to have a clear understanding of the costs involved in accepting payments. By eliminating hidden fees, EasyPie Checkout provides merchants with more control over their costs, helping them make better decisions when it comes to pricing and managing their revenue.
2. Multi-Currency Support for Global Expansion
As e-commerce continues to grow, it’s essential for Shopify merchants to cater to international customers. One of the biggest barriers to expanding into global markets is the complexity of handling multiple currencies. EasyPie Checkout, powered by Stripe, solves this problem by supporting over 135 currencies, including the USD, AUD, EUR, GBP, and many more. This multi-currency support allows merchants to provide a localized shopping experience for customers from different regions, making them feel more comfortable when making a purchase.
For Shopify store owners, this means that you can display product prices in the local currency of the customer and allow them to complete their purchase in the currency they’re most familiar with. Furthermore, Stripe offers multi-currency settlement, which allows you to receive payouts in your preferred currency while still managing transactions across different currencies. This simplifies the process of handling international sales and eliminates the complexities of currency conversions, enabling you to focus on scaling your business.
3. Accept Popular Payment Methods with a Single Integration
Offering a variety of payment methods is essential for increasing conversion rates and attracting a broader customer base. EasyPie Checkout makes it easy for Shopify merchants to accept a wide range of popular payment methods with a single integration. This includes everything from traditional credit and debit card payments to digital wallets, bank transfers, and “Buy Now, Pay Later” options.
Let’s take a look at the key payment methods that EasyPie Checkout supports:
Credit and Debit Cards:
Credit and debit cards are still the most popular payment method worldwide. By accepting both domestic and international card payments, you open your store to a wide range of customers, whether they’re based in the US, Australia, or anywhere else. Stripe supports Visa, MasterCard, American Express, and other major card issuers, making it easy to process payments from customers around the world.
Digital Wallets:
Digital wallets like Apple Pay, Google Pay, Alipay, and WeChat Pay are becoming increasingly popular for online purchases, especially among mobile-first shoppers. By offering these payment methods, you can streamline the checkout process and speed up transactions by allowing customers to use stored payment details. This convenience can help increase conversion rates, as customers are more likely to complete their purchases when they can pay quickly and securely.
Bank-Based Payment Methods:
Bank-based payment methods are common in many regions, and offering these options can help reduce transaction costs while providing customers with a familiar payment experience. Some popular bank-based payment methods include BECS Direct Debit, iDEAL, SEPA Direct Debit, and Sofort. By accepting these payment options, you can cater to customers who prefer to make payments directly from their bank accounts.
Buy Now, Pay Later (BNPL):
Services like Afterpay, Klarna, and Zip allow customers to make purchases and pay for them in installments over time. These services have gained significant traction in markets like Australia, the US, and Europe, particularly among younger shoppers who prefer the flexibility of paying for items over time. By integrating BNPL options, you can increase the likelihood of larger purchases and reduce cart abandonment rates.
4. Fast and Secure Checkout Experience
The checkout process is one of the most critical factors that determine whether a customer completes a purchase or abandons their cart. A slow, complicated, or insecure checkout experience can lead to frustrated customers and lost sales. EasyPie Checkout streamlines the checkout process by providing a fast, secure, and user-friendly experience.
With EasyPie Checkout, customers can pay with a variety of payment methods without leaving your Shopify store, making the process seamless and efficient. Moreover, EasyPie Checkout is designed to meet the highest security standards, ensuring that sensitive customer data is protected at all times. This security and convenience help build trust with your customers, improving conversion rates and fostering customer loyalty.
5. Adapt to the US and Australian Markets with Localized Payment Options
To truly succeed in the US and Australian markets, it’s essential to offer localized payment methods that cater to the preferences of customers in those regions. For example:
In the US, consumers expect to be able to pay with credit and debit cards, digital wallets like Apple Pay and Google Pay, and services like Afterpay and Klarna for “Buy Now, Pay Later” options.
In Australia, credit and debit cards, Apple Pay, Google Pay, and Afterpay are all commonly used, with Afterpay becoming especially popular among Australian consumers.
By supporting these localized payment methods through EasyPie Checkout, Shopify merchants can make it easier for customers in the US, Australia, and around the world to complete their purchases.
Conclusion: Grow Your Shopify Store with Stripe and EasyPie Checkout
Expanding your e-commerce business into international markets like the US and Australia offers tremendous opportunities for growth. By integrating EasyPie Checkout with Stripe, Shopify store owners can accept a wide variety of payment methods, support over 135 currencies, and provide a seamless, secure checkout experience that boosts conversions and enhances customer satisfaction.
Whether you’re targeting US consumers who prefer credit cards and digital wallets or Australian shoppers who love the convenience of Buy Now, Pay Later services, EasyPie Checkout helps you offer the right payment options for each market. By simplifying payments, reducing fees, and improving the checkout experience, EasyPie Checkout allows you to focus on what matters most: growing your business.
Visit EasyPie Checkout for Shopify today and start expanding your Shopify store into new markets with the most popular payment methods and currencies around the world.
Top comments (0)