As online shopping becomes increasingly convenient, more and more businesses around the world are turning to e-commerce.
This shift was driven by the COVID pandemic, consumers were compelled to adopt digital behaviors and lifestyles.
Because of the expansion of e-commerce and new purchasing channels, online payment capabilities have become a must-have feature for successful e-commerce companies.
Five benefits of accepting online payment:
1. More purchases
When you accept online payments, you get another route for transactions. Online payment becomes even more vital during the COVID pandemic. It keeps you in touch with your customers even when your retail store is closed. It provides you with a consistent source of sales and allows customers to obtain the products or services they desire.
2. More customers
E-commerce has grown in popularity in Singapore, with an increasing number of people preferring to purchase online, and this trend is expected to continue. According to Statista, e-commerce accounted for almost 19% of global retail sales in 2021. By 2026, forecasts indicate that e-commerce segment will account for nearly 25% of total global retail sales.
3. More productive
Online payments save your business a lot of time and resources by reducing some of the tedious business processes such as data input, processing paper invoices and managing customer services.
4. More convenient
Flexible payment options make or break a shopping experience. Online payments can assist your business in providing convenient payment experience to your consumers. Online payments have no time or place restrictions, and customers can complete purchases in minutes with a click or swipe, making promotions and sales simple.
5. More security
A reliable online payment method will provide consumers with a sense of security. Online payments have strong security to protect consumers’ privacy and prevent data breaches and fraud.
The most popular online payment methods for e-commerce sites in different regions:
Why SHOPLINE Payments?
SHOPLINE payment being our own integrated payment gateway, allows businesses to accept most of the popular payment methods, including BNPL(Afterpay,Affirm and Atome), GrabPay, Apple Pay (coming soon), Google Pay (coming soon) and major credit cards. s
- Competitive transaction fees
SHOPLINE Payments has low transaction fees for international and domestic credit cards and it allows you to enjoy one-stop payment management without the need to switch between different platforms.
- Quick and Secure
SHOPLINE Payments enables quick and secure checkouts and supports credit card transactions with attractive rates.
- No additional transaction fees
For orders that are being processed through SHOPLINE Payments, there would not be any additional commision fees associated.
- Saves time
With integrated payment methods that are available via SHOPLINE Payments, you would be able to save time on verifying transactions and updating their orders status.
SHOPLINE works with Buy Now, Pay Later and localised payment service providers (Afterpay, Affirm, Atome, Grabpay, Google Pay and more) across the globe so your customers have the flexibility to pay with their preferred way at your store.
Ensure that you have fulfilled these requirements before applying for SHOPLINE Payments
Overall, using multiple online payment methods will add to your consumers’ shopping experience as it offers more options for them, making it more convenient for them to checkout.
Join SHOPLINE Payments and benefit yourself and your consumers together!