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E-commerce payment methods

E-commerce websites that offer consumers a handful of different payment methods often benefit from doing so, as they can increase their sales volume and therefore increase their profits. Additionally, offering shoppers secure and convenient payment methods will ensure each sale goes smoothly, encouraging shoppers to make repeat purchases, patronage loyalty, and word-of-mouth referrals.

Credit and debit cards
Credit and debit cards are by far the most popular and commonly accepted form of payment in the world. International merchants often accept international cards in a wide variety of local currencies.

direct debit
This form of payment allows merchants to immediately collect a specific amount of money for a purchase directly from the buyer’s bank account.

Bank transfers
Local and international bank transfers (also commonly known as wire transfers) refer to the electronic transfer of funds from one financial institution to another, be it a bank or a money transfer service.

Bank transfers in real time
While a traditional bank transfer can take a few days to process, a real-time bank transfer makes it easy to authorize available funds instantly online. A more cost-effective payment method for higher value transactions, real-time bank transfers provide merchants with fast payment settlement and greater security for both merchant and consumer.

electronic wallets
Electronic wallets are essentially an electronic virtual wallet that allows consumers to load money into an account and pay and receive funds online. Consumers can send money without sharing any financial information and can pay with their own bank accounts and credit cards.

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