Customer needs and expectations in eCommerce have changed. While the payment method was previously perhaps just a technical detail, it can now have a significant influence on purchasing behavior. Customers expect the same flexibility when shopping online as they do in bricks-and-mortar retail. With ever new and increasingly flexible payment methods available for online stores, they expect to find a certain amount of choice at the checkout. If the preferred payment method is not included, a purchase can quickly be abandoned – and the desired product with the appropriate payment method is simply looked for in the next store. An important part of checkout optimization is therefore the listing of secure and flexible payment methods.
Why the choice of payment methods is crucial
In the worst case scenario, customers abandon the purchase process if their preferred payment method is missing. Of course, not all payment methods can be mapped in the checkout. But there are some that are particularly popular with customers and are specifically searched for when shopping. Offering them can be an important success factor for retailers:
The popularity of installment plan and purchase on account
Instant payments are a popular option, especially for smaller amounts. This way, payment is off the consumer’s mind. For many, however, the classic purchase on account is considered more secure and convenient. According to a Verivox survey from 2024, it is considered the most secure payment option among consumers and is most frequently chosen for amounts over €1,000. Purchase on account allows customers to inspect, test or try on the ordered goods first and then pay. This listing gives them security, even if they are trying out a new online store, for example, and do not yet have their own impression of its quality and services.
Retailers, meanwhile, benefit from a confidence bonus that arises from the invoice. This in turn leads to a higher willingness to buy – especially among new or undecided customers. The fact that the goods are shipped before payment is received initially seems risky for many retailers, but this can be handled safely with a reliable partner.
Payment by installments is also becoming increasingly important in this higher price segment and enables spontaneous but budget-conscious decisions even for cost-intensive purchases. It is used particularly frequently for purchases in the bicycle/outdoor, furniture and electronics sectors, where it ensures higher shopping baskets. Customers particularly appreciate the fact that they can make a spontaneous purchase decision without putting too much strain on their liquidity. They consciously plan the expenditure into their budget for the long term.
What counts when choosing a payment service provider?
It quickly becomes apparent: What consistently provides more security for customers can pose a risk for online stores. After all, what happens if the invoice or outstanding installment is not paid? Here it is important to have a reliable payment service provider at your side. For example, they can check the creditworthiness of potential customers and determine whether they are suitable for an installment purchase before it is concluded. Receivables management in the event of non-payment and the early detection of fraud are also among the tasks of the payment service provider – and reduce the risk of payment defaults for merchants.
A professional payment service provider takes on central tasks:
- Smooth processes in the background take the risk away from retailers
- Risk management and fraud prevention protect against payment defaults
- Credit assessment and receivables management
- Seamless integration into shop systems such as JTL-Shop enables simple processing and more convenience at the checkout.
Respond flexibly to customer requests
Customers want flexibility – and retailers benefit from higher shopping baskets and a higher conversion rate if they cater to this desire. A selection of popular payment methods such as invoice and installment purchase and popular payment providers should therefore always be included in the checkout.
The new easyCredit invoice listing, which is now available with the easyCredit installment purchase in JTL-Shop, also responds to this flexibility. Both payment methods impress with transparent conditions, maximum security for merchants and simple integration:
- easyCredit installment purchase: monthly installments between €200 and €10,000, term between 2 – 60 months, flexible choice, transparent credit decision in real time
- easyCredit invoice: Can be used for sales between €50 and €5,000, payment due no earlier than 30 days after delivery, early transfer of the amount possible at any time
More tips to increase the conversion rate
Offering the right payment methods in the checkout is an often underestimated but effective lever for optimizing the conversion rate. And it is just one of many. If you want to get the most out of the checkout, you should make several adjustments. You can find out exactly which ones in Checkout Cheats from easyCredit:
