Payment solutions to consider in 2020

Whether you are in eCommerce or iGaming, offering your clients multiple ways to pay will be one of the keys to your success in 2020. 

As more and more consumers switch to smartphones to do their shopping and gambling, if your payment methods don’t include mobile-friendly ways, you could end up losing a sale, or a bet. There are five main ways to pay online, be that mobile or PC and you need to be offering all of them.

Credit/debit cards

For many years, customers have had to manually type out their credit card number, expiration dates and CVV codes every time they want to make a purchase. For those on the move on mobile for example, this is an unnecessary headache. Sites and apps should allow for autofill for payment submissions to make things easier and quicker for consumers.

Integrated express checkouts

PayPal, ecoPayz and Amazon Pay give shoppers the ability to pay in a quick and seamless manner. Rates for processing tend to be around the same or a bit higher than credit cards but such easy payment methods often make big purchases more attractive for customers. These kinds of payment methods reduce the amount of data that needs to be inputted and allows shoppers and customers to shop with confidence knowing they benefit from additional security.

Mobile payment wallets

Mobile wallets such as Google Pay, Apple Pay and others, require only a passcode or biometric scan to make a payment. This way, mobile users can pay for things in a variety of places with, quite literally, just a blink of the eye.

Cryptocurrency 

In the next 12 months, it is expected that cryptocurrency payments will become even more popular with more online gambling platforms and eCommerce sites adopting them as a means of payment. Providing quick and low-cost transfers, anonymity, security, and convenience, they are expected to lead the way in the payments market in the coming years. Businesses should start by offering payments in Bitcoin and Ethereum and then consider offering a wide range of digital currency options. As the world of business becomes more and more globalised and cross-border in nature, anyone offering a payable service should consider allowing payments in cryptocurrency.

To find out more about payment solutions for your business or for help in integration, the team at Fast Offshore are on hand to assist. We have extensive experience with a wide range of payment solutions and can provide advice on what will work best for you, who to go with, and how to set it up. To find out more and to speak to a member of our team, contact us today.