Offering a variety of payment methods is an increasingly important factor for any online business’s checkout experience. With the changes brought about by COVID-19, the payment landscape is changing.
A recent list of payment trends for 2021 highlights several important developments in that regard. For one, businesses have seen a marked increase in online payments as well as in the types of payment options used by their customers. Credit and debit cards, but also digital wallets, direct bank transfers, eCash, and a number of other methods have all become more popular.
In turn, businesses have both driven this behavior as well as responded to demands by customers. According to research conducted by Paysafe, 35% of surveyed businesses have offered at least one new payment option on their website since the outbreak of the COVID-19 pandemic. And 80% of these businesses attribute the growth in sales to changes they have made to their checkout - whether in-person or online.
Online payments are also an important tool in monitoring and managing one's spending. While this trend is not new, it has been amplified by the increase in online payments over the last year. Finally, crypto payments are becoming more mainstream, highlighting the need for merchants to consider making such payments possible.
Offering more payment options therefore holds the promise of weathering any setbacks created by shifts in consumer behavior. This is where Skrill offers businesses a wide variety of payment methods that they can make available to their customers. Adopting Skrill as a payment solution for your business will allow you to offer over 100 different local payment methods as well as payments in over 40 currencies globally.
Want to know more? Here are some of the many payment methods supported by Skrill!
Over 100 Local Payment Methods Provided by Skrill Globally
By integrating Skrill on your website you can offer your customers over 100 local payment methods globally. Some of the most popular payment methods include:
Credit/debit card payments and bank transfers
Credit and debit cards are among the main payments methods used online. According to the Global Payments Report in 2019, only in eCommerce, credit cards accounted for as much as 24% of global payments, debit cards for 10%, and bank transfers for 9%.
Major credit and debit card issuers such as Visa, Mastercard, and Maestro are of course supported by Skrill. Customers can also opt to make a bank transfer if preferred.
Skrill's Rapid Transfer is an instant bank transfer solution. It allows your customers to pay directly from their bank account without having to leave your website.
Rapid Transfer supports over 3,000 banks globally and has high customer acceptance due to its ease of use. Customers do not need to sign up to use the service which helps merchants increase conversions on checkout.
Skrill Digital Wallet
With the Skrill Digital Wallet, customers can make use of a host of payments by simply logging in with their email address and password.
The digital wallet allows them to use all payment methods provided by Skrill. Payments are made quickly and with ease, thanks to the 1-Tap functionality.
Adopting Skrill will also allow you to accept payments from users of the NETELLER digital wallet. This payment method is mostly used in online gaming, Forex trading, social and educational networks, software services, and more.
Klarna is another payment service that you can make available to your customers with Skrill. This will enable Klarna users to pay through Skrill via bank transfers, saving them the need to adopt another service in order to make a transaction.
paysafecard and Paysafecash
Paysafecard and Paysafecash are two payment options that allow users to make online purchases without the need for a bank account or debit/credit card.
Paysafecard users can buy payment vouchers in different cash amounts and use these to then shop online. On the other hand, with Paysafecash, the purchase is made online and users can then pay offline at dedicated payment points.
Over 100 Alternative Payment Methods
Skrill gives online businesses access to more than 100 local payment options in more than 40 currencies. Some examples are iDeal in the Netherlands, Alipay in China, Giropay in Germany, and many more. With Skrill, you give your customers the option to select their most preferred payment method wherever they are in the world.
The above are only some of the many different payment methods supported by us. By adding Skrill, you will not only accommodate users' payment preferences, but you will also receive a number of other benefits that we are known for.
Our services are fully PCI compliant and you are guaranteed to benefit from the highest standards of fraud and risk management. Adding Skrill is simple and requires only a single API.
Want to try Skrill for your business? Sign up for a free business account today and get started!
More than 100 payment options available with Skrill