Access to the internet is increasing exponentially worldwide, inviting more people to the world of online shopping every year. Over 2 billion people made goods purchase or bought a service over the internet in 2020. In the United States alone, the revenue from e-commerce amounted to 431.6 billion U.S dollars in 2020. As customers seek to spend so much online—online retailers are beginning to take a keen interest in Payment Processing Solutions so that the transactions made are safe, secure, and don’t delay the business process. But along with the ease of shopping and payments come the risk factors of online transactions. Payment theft and fraud are the biggest concerns and may make shoppers reluctant to spend money online. Every business owner needs to keep up with these trends to adapt and improvise ahead of the market.
Top Payment Trends in E-Commerce
Online payment processing is now used by the majority of businesses that offer products and services online. Online payments, at their finest, are quick, easy, and efficient, allowing customers to pay for items in a simplified, accessible manner—opening the opportunity for customer retention for your online store.
However, if your business has a poor or inefficient payment system that isn’t up with the trend, this could become a problem for you. Here are the top online payment processing trends in E-commerce:
Contactless Payments:
With the drastic conditions worldwide, customers now demand contactless payment procedures to carry out their transactions. Consumers are gaining a keen interest in paying by putting their physical cards on a scanner or tapping a button on their cell phone screen.
Cloud-Based Payments
This online payment processing solution is vital for safe, secure, and efficient payments. It allows you to make payments with a single tap. E-invoicing, security, and automated payments are some of the many benefits of this type of payment terminal solution.
Get Help from Experts
To learn more about contactless E-commerce payments and various online payment processing solutions, contact Galalee Software Solutions. See how much you can save by switching to a new credit card processor today and receive the latest payment technologies.
