Emerging e-commerce has given birth to online payment systems and an infinite number of digital marketing agencies in Los Angeles. Given this rapidly growing digital world, it is critical to understand online payment methods that marketing agencies in Los Angeles recommend.
A variety of digital payment methods are popular today among both small and large businesses. They allow customers to sell or buy things online with one click on their digital gadgets. Digital payment systems help send and receive money from people irrespective of geographical boundaries. Over the last decade, several online payment systems have emerged with high competition.
A digital marketing agency in Los Angeles reveals that operating these systems is in itself a business as such services are provided by third-party corporations like PayPal, Click2pay, or Google, etc. These corporations take a small portion of your transactions to raise their profits.
Rising digital economies all around the world are keen to invest in digital forms of businesses as it cuts high costs for entrepreneurs. Due to the attractive service of these payment methods, companies are more interested in developing their online stores. It doesn’t only boost your businesses, but it finds more customers for your sales as well.
The more you know about online payment methods, the more you find it convenient and secure. E-commerce payment methods come in different types like e-wallet, bank transfers, cryptocurrencies, and credit/debit card payments, etc. Digital business means you would need a secure, easy, and convenient way for your transactions.
Let’s dig deeper into popular online payment methods and identify which ones are best!
PayPal is the most popular online payment service used by over 24 million people. You can make your payments either via credit card or a user’s existing account. Pay online bills without any security issues and inconvenience. It is a user-friendly service used by over 17 billion businesses for their payment solutions.
According to its new policy, Paypal charges a flat rate of 2.9% and $0.30 per transaction.
2. Amazon Pay
Paypal may be famous, but we can’t deny the fact that Amazon Pay has made our online transactions far easier. Just adding an Amazon pay button to your online store makes it a lot easier to shop without worrying about data loss.
3. Google pay
With the significant emergence of technology comes greater competition. Google pay is known as one of the competitors of PayPal and Amazon pay. Google is providing you with its payment system that allows you to save your card information to your Google account.
Additionally, the best thing for you about Google pay is that it doesn’t charge you or your customer for the service.
4. American Express
American Express is widely known for having the highest satisfaction rates in the industry.
If you are a high-income consumer, then American express is the service you are searching for. This online payment method accepts over 120 currencies which can attract foreign consumers for your business.
You have to pay $20 per month for over 100 transactions which seem a little bit more expensive than the other options, but it is worth it.
5. Apple pay
If you are an Apple user, apple pay is best for your online payments. You can use it as a mobile wallet for just a one-click payment. It is a more convenient option for mobile users because of its touch identification feature for checkout.
To secure your information, apple pay uses tokenization which hides your credit card information from hackers.
Stripe is another payment tool that allows you to accept payments from a wide range of services, such as credit cards, digital wallets, ACH transfers, etc.
Not only this, but you can also go for different checkout processes. Additionally, Stripe costs you 30 cents plus 2.9% for domestic credit card processing, and 0.8% for ACH payments.
A service called Square provides the in-person point-of-sale (POS) payment.
The company doesn’t only offer you a payment channel, but it also has several e-commerce options as well. Opting for Square will cost you 2.9% and $30 charges per payment.
8. Visa checkout
Visa checkout is somewhat similar to American Express, but its usage is more comfortable.
If you are a Visa cardholder, then you can complete your payments without filling any payment information. About 2 million people are using Visa checkout for online payments.
Along with secure setup methods, you get access to advanced security to your account information.
Just like visa checkout and American Express, Masterpass is another easy way for digital payments.
For all MasterCard holders, it becomes so much easier and more convenient when checking out from websites. Masterpass provides you with high-security features like tokenization, verification, issuer authentication, and fraud monitoring without any charges.
With 2checkout, you can find a customizable checkout service for your website.
2checkout accepts several currencies from all around the world. Extensive protection and highly responsive design help you attract customers. Its service charges go like 2.9% and 30 cents per transaction along with an extra fee from foreign customers.
With any of the payment methods you use, it is essential to keep your choices and priorities in check. It is also crucial to compare different corporations to choose what is beneficial for your E-commerce site. You should opt for the service that best suits your budget and profit.
Business expansion is one of the most significant benefits of e-commerce. Having extensive knowledge of e-commerce can allow your business to perform better. E-commerce with reliable and profitable payment method means a more significant number of customers from different countries leading to a prosperous business.