In part one of this two-part blog series, we went over some of the many ways that ecommerce payments have evolved over the years, especially during recent ones. Technology has rapidly increased the number of options available for ecommerce clients when paying for products, and ecommerce businesses need to have robust systems for accepting these to ensure they cover as many clients as possible.
At SiteSource, we're here to offer numerous headless ecommerce services, from custom software development to Shopify services, ADA compliance and more. While part one of our series went over QR codes, E-wallets and cryptocurrency, today's part two will look at some other advances in ecommerce payments and what to be thinking about within each one.
Another rising trend in digital payments come from payment apps, like Apple Pay and Google Pay. These allow customers to pay with their phones instead of or cards. This is already quite popular since people tend to their phones on them at all times; it’s a quick and easy option for them.
Additionally, more stores are accepting contactless payments, where a customer can wave their card or phone over the store’s terminal and the payment is processed immediately. This is done through NFC (near field communication) technology, which uses radio frequencies to transmit data between two points. This makes it easier for customers to pay without having to take out their wallet, while also helping stores minimize the amount of physical contact with payment points.
When it comes to payment apps, think about what your customers prefer and how you can make the process easier for them. Consider adding support for Apple Pay or Google Pay, as these are both popular among consumers and will help you build a loyal customer base. Additionally, consider offering contactless payments.
Voice commerce is another rising trend that many ecommerce businesses are turning to. This technology allows customers to purchase products via voice command, instead of manually entering payment information and item details into a website or app.
Voice-enabled payments have become increasingly popular over the last few years, as people turn to digital assistants like Alexa and Siri for daily tasks. With voice commerce, customers can simply say what they want and it will be added to their cart. This is especially useful for busy shoppers who don’t have time to manually input the details of transaction.
While the concept of “buy now, pay later” isn’t a new concept, it is still growing in popularity among ecommerce businesses. This type of payment system allows customers to purchase products without having to pay in full upfront. Instead, they can choose to spread the cost over multiple payments or installments with no interest added on.
This type of payment system is beneficial for customers, as it allows them to purchase what they need without having to wait or worry about the upfront cost. It’s also useful for businesses, as it can help increase sales by allowing more people to make purchases.
As you can see, there are many ways that ecommerce payments have advanced over the years. It’s important to consider what type of payment options you offer and how they can help meet your customers’ needs. With so many different payment systems available, it’s essential that businesses take advantage of them if they want to remain competitive in the market.
For more here, or to learn about any of our other headless ecommerce services, speak to our team at SiteSource today.