How to Choose an E-Commerce Payment Solution for Your Business

More and more consumers are choosing to do their shopping online, and businesses need to keep up by offering e-commerce options. Maybe you have already hopped on the e-tailing bandwagon, or perhaps you are considering making the move to online.

Download the "Intro to ecommerce" guide to start your online shop the right way.

No matter the situation, you know you need a simple, efficient, and effective e-commerce payment solution for your business.

One Size Does Not Fit All

Your business is unique, and no one is more keenly aware of that fact than you. You know you need an e-commerce payment solution that is tailored to your business. That means the one-size-fits-all mentality is simply not going to cut it.

You will want to look for a payment solution that can be customized to meet your business’s needs.

Payment Methods

You should always consider your customers and their preferences when you select your e-commerce payment solution. What options does the solution offer for payment? While you may know your customers prefer one type of payment—say, Visa—over another, you also know that customers appreciate having options.

Offering multiple options for payment, such as credit card, debit, or alternative payment methods, increases the likelihood that customers will be able to select their preferred methods of payment and will complete the transaction.

Multiple Currencies

Online shopping allows customers from around the world to peruse your shop. If you offer the option to shop in different currencies, you increase the likelihood customers from other countries will choose to shop with you and complete their purchases. You do not need to accept payment in every currency, but offering a couple options makes for happier customers and a wider customer reach.

Payment Options

In addition to offering multiple methods of payment, you should also consider what options you offer your customers in terms of when they pay. While most online shops require customers to pay up front, prior to the order being processed, some e-commerce payment solutions will provide you with a “pay-later” option. This can decrease the drop-off rate for transactions, which can be as high as 80 percent for customers shopping on their mobile devices. A pay-later option makes the transaction simpler for busy customers on the go.


Drop-off rates for online shopping are extraordinarily high. As mentioned, customers using mobile devices tend to abandon their shopping carts at rates of up to 80 percent. That is a lot of lost sales!

That is why you must think about the simplicity of the e-commerce payment solutions you are considering for your business. A good e-commerce solution will provide a quick and easy way to check-out, which entices customers to buy more and buy more frequently.


Every year, millions of customers have their data—including their credit card information—stolen due to security breaches. For many online shoppers, then, security is a big concern. It should be a concern for your business as well. Always consider what security features any e-commerce payment solution has. That will help you keep your customers and your business safe.


Price almost always plays a big role in determining what e-commerce payment solution a business selects, but it most definitely should not be your only consideration. Take a look at the whole picture and then determine the value of the solution. One solution may have a more attractive price tag, but the check-out system may be too complex or it may not feature enough security—both of which translate into losses for your business.

Of course, you always want a great price point too, and you want fees that work with the structure of sales your business does. Get estimates and ask about the fee structure for any solution before committing.


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James Newman

James brings over 30 years of experience in the telecommunications and merchant services industry to his role as Client Relations Specialist for BNA Smart Payment Systems. With a focus on sales, marketing and client services, the last 10 years have been spent with BNA. He has completed over 2,000 hours of professional business training, including professional sales, solution selling, conflict resolution, appraisal workshop, strategic marketing, and financial analysis. Outside of work, James is almost constantly reading fiction. In direct contradiction to this rather silent interest, he took up the guitar six years ago and regularly, happily, and shamelessly destroys the peace and quiet of his family home.

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