Why Customers Prefer Credit Cards Vs Other Method

Page 1

Why Customers Prefer Credit Cards Vs Other Method if you are doing business online, the most important part of it's to be ready to offer your customers the foremost convenient thanks to buying their purchases. Within the past decade, buying on-line has become a worldwide trend, with many transactions happening a day. And, of course, the payment methods that customers use to buy a product have diversified. Within the beginning credit cards were the sole option, but now there are several websites, like PayPal or Moneybookers that provide other payment solutions and became very fashionable. Some online vendors accept payment only these e-wallet payments without an immediate credit card payment option stupidly that they could lose customers. Credit card payment remains a preferred payment method for many online customers. so,why customers use credit cards more often compared to other payment methods: 1. No got to register anywhere - there's no need for a customer to register or have an account on any of the websites to finish the acquisition (unlike with e-wallet payments). 2. Fast and convenient - Credit card transaction is processed within seconds once your customer enters card details on your checkout page. An order gets approved or declined instantly. Unlike with checks or bank wire payments, the order is often shipped immediately after the payment, because the funds are deposited instantly to a vendor merchant account. 3. Fraud protection - Credit card companies offer customers far better protection against fraud and it enables you to chargeback if the merchandise isn't what you expected. So customers are more protected once they buy online and that they feel safe when ordering a product. 4. Additional security layers - Visa and MasterCard have developed special Verified by Visa and Credit Card SecureCode programs that add a further security layer for all card purchases. Once this feature is implemented, the customer is asked to supply a particular password during a sale. This ensures the security of an order - that card is employed only by the authorized person. Customers feel safe once they order your product. It’s proved that having this feature performing on your website will bring you more sales. At an equivalent time you - as a vendor - are shielded from the bulk of possible chargebacks with 'I didn't do it' reason. 5. Get rewarded - customers also are likely to urge reward points from their credit card banks for employing a card often, which may bring them benefits within the end of the day. so that they like better to use cards even more. 6. Pay in credit - your customers pay you using their credit card limit - albeit they do not have enough funds at the instant by borrowing money from a bank. This increases your sales even more. 7. Get more international customers - if you sell online internationally then your foreign customers are going to be more likely to pay using their credit cards than the other payment method. So it's a requirement for you to simply accept credit card payment to not lose potential customers. Direct MasterCard payments account for around 50% to 85% of total online orders. This percentage depends on your industry and niche. If your product is more oriented towards the bulk of individuals that do not spend much time online, then you'll get far more credit card orders compared to PayPal or the other payments. Moreover, US-based buyers tend to use more e-wallet sort of payments compared to international customers -

from Western Europe, etc. If you're serious about online business, you ought to offer as many convenient payment methods as possible. This manner your customers will have a far better option to complete their payment and that they will select the foremost suitable payment method. Offering credit card payments alongside PayPal will certainly increase your sales compared to only the credit card payment option, so confirm your online shop always offer the foremost popular payment methods. Then your customers won't have any problem placing an order on your website.