These methods increase eCommerce

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Credit and debit cards still dominate the eCommerce arena, yet alternative payment methods such as digital wallets and buy now, pay later (BNPL) plans have gained popularity as online payment options. Key reasons why include the ease and convenience they provide. As a result, most eCommerce merchants prioritize offering digital wallets and BNPL to meet this consumer demand — and merchants will think about switching payment processors if they cannot currently accept certain payment methods, data shows.

Today, 80% of merchants accept digital phone number search malaysia wallets such as Apple Pay, Google Pay and PayPal, while 40% provide BNPL options. The popularity of these payment methods and the convenience they provide are important factors more than half of merchants consider when adding alternative payment methods to their online platforms. Furthermore, more than four in five merchants surveyed report available payment methods are important when choosing a payments processor, with one-third saying it is the most important factor.

Data in the report suggests that offering alternative payment methods, including digital wallets and BNPL, can directly impact merchants’ conversion rates. conversion more than other checkout features, including subscriptions and guest checkout. Read the December 2024 report to learn more about BNPL and digital wallets in eCommerce, and: Explore how aligning payment methods with customer preferences boosts satisfaction and retention Discover why merchants rank payment diversity as the top processor selection factor See how alternative payment methods improve eCommerce conversion rates Understand the role of alternative payment methods play in helping small merchants succeed Download the report: How Offering BNPL and Digital Wallets Can Drive eCommerce Sales Growth First Name* Last Name* Work Email* Title* Company* Country* By completing this form, I have read and acknowledged the Terms and Conditions and agree that PYMNTS.