Payment Options

Payment Options

Payment options are diverse in e-commerce. A particular payment method is always implemented when both merchants and customers find it secure and not problematic. Operators of online stores usually offer several different payment options. Classic payment systems such as payment on account are available for payments. Pure online payment systems such as PayPal or direct bank transfer with Giropay are payment methods developed for the Internet or adapted to the needs of e-commerce.

Customers and retailers rely on tried-and-tested payment options

When it comes to payment options in e-commerce, classic payment methods that have been adopted from regular payment transactions and adapted for online payments predominate. Payments on account or cash on delivery are frequently used, as are payments in advance or by direct debit. For customers and merchants alike, these payment options have proven their worth and are considered secure. For operators of online stores, it is a major concern to minimize the risks of non-payment. For this reason, the question arises for merchants as to which payment methods should be implemented on their websites. In this context, it is important to combine the merchant’s own security needs with those of its customers.

Payment options optimized for e-commerce

In principle, classic payment options dominate in e-commerce. In addition to purchase on account, direct debit or credit card, payment in advance or cash on delivery is often offered. However, payment methods optimized for e-commerce, such as PayPal or online direct transfer with Giropay, are constantly increasing their reach. Due to the increasing spread of smartphones as mobile devices, phone payments are becoming equally important. Other offers such as Google Wallet or payment via the Amazon customer account have so far rarely been offered by retailers and customers often still have security concerns about these payment options. Pure online payment options with virtual currencies have so far generally been neglected as a payment method.