In our last blog, we revealed that Canadians are catching up to their American counterparts when it comes to how much they spend on online shopping. It should be needless to say that shopping via the internet is only becoming more popular. After all, the internet itself is becoming more popular. This is likely because there continues to be the development of new and easy-to-use devices that can connect people to the worldwide web.
Smart phones, tablets, laptops and the like are commonly carried around by people on a daily basis. So if they each provide us with ways to shop without having to visit the physical locations of stores, it stands to reason that online shopping will continue to grow in popularity. With that said, it’s important to note the type of payment method that customers prefer to use when they are shopping using the internet.
On SurveyMonkey.com, Josh K writes that when you provide your customers the ability to make purchases from you online, it’s important to make the payment process an easy one. “The easier it is for your customers to pay you, the more satisfied they’ll probably be,” he states, “The chances of them coming back for a second, third or fourth helping are much higher if they have a hassle-free payment experience than one that’s complicated or too slow.”
So what payment method is most preferred by online shoppers? Josh K reveals that a survey of 300 Americans revealed how they prefer to make their payments when making online purchases. And the results? Credit cards rule! “Perhaps not surprisingly, good old-fashioned plastic is still the most preferred payment method online for Americans,” he reports, “Online payment service, PayPal, and debit cards are neck and neck with one another for second place.”
Here are the questions the survey answered:
What payment methods have you used to make online purchases within the past year? Josh K reveals that an overwhelming 86.22% percent of the survey’s respondents used their credit cards to make their online purchases. 49.04% of those same respondents have also used their debit cards to make payments online. Evidently, plastic rules when it comes to online shopping. We can’t say that we’re surprised.
When purchasing auto-recurring subscriptions, what payment method do you prefer to use? Again, an overpowering 60.25% of the survey’s respondents replied that credit cards are their preferred payment methods of choice. There was no close second place. “Hardly anyone opted for PayPal,” reports Josh K, “This is an interesting insight for business owners with this type of subscription model–adding PayPal as a provider might not need to be at the top of your payment priority list.”
What payment methods do you most often use to make purchases on behalf of your business/employer? 77.78% of the survey’s respondents pointed to credit cards, once again, as their most used payment method. Such findings strongly advocate the need for business owners to accept credit cards as methods of payment for their customers’ online shopping needs. Do you accept credit cards for purchases made from your website?
Canadian POS Corporation has your e-commerce solution. Securely accept all major credit cards from your website using our advanced system. As we’ve stated, statistics show that customers greatly prefer to use their credit cards to make their payments when shopping online. By not allowing for such a convenience, you stand to miss out on a lot of business that can come your way. Call us today at 1-877-748-2884!