Running a business? Here’s why you should offer multiple payment options

Payment methods can make or break a new business, especially in ecommerce. So it's important to offer a variety of options, especially if your customers are primarily online shoppers. This lets them choose the payment method that is most convenient and comfortable for them and can build trust in your business. Offering multiple and flexible payment options can also help you reach a larger audience and make checkout easier for your customers. There's a huge variety of online payment methods for small businesses out there, so there's no excuse for only offering a couple. Let's get into the nitty-gritty on multiple payment methods and flexible payment options are the way to go. 

Increase customer satisfaction and promote security 

If you're looking to increase customer satisfaction, you should definitely consider offering multiple payment options. Nobody likes being boxed into only one or two options. Multiple payment options allow your customers to choose the payment method that is most convenient for them, which can get you more customer satisfaction and loyalty. Ultimately, this'll keep your customers coming back and make it more likely they'll purchase from you in the future.

Multiple payment methods can also help your business stay secure. This can protect customers’ personal data from being stolen. Some customers may prefer payment methods that have extra security measures, such as digital wallets, and these can provide an extra layer of protection against fraud and identity theft. In general, when it comes to customer payments, it’s better not to put all your eggs in one basket. 

Reach a wider audience and improve efficiency 

Having multiple payment options can help you streamline the checkout process and make it more efficient for customers. By providing a variety of payment options, you can reduce the time customers spend at the checkout and allow them to complete their purchases quickly and easily. Offering a range of payment channels also allows your business to reach a larger audience. By offering several payment options, businesses can ensure they don’t miss out on potential customers who only use certain payment methods.

But most importantly… let your customers split the bill at checkout! 

If you're already offering multiple payment methods, we think it’s most important to let customers split their bills at checkout! With Backpocket, your customers can split the bill at checkout with each only paying their share. We take care of the rest. The order is instantly confirmed, and your business will be paid within 24 hours. Increase your cart values by up to 25% thanks to our innovative service, ideal for group gifting, booking event tickets, and more. Backpocket is free to use, and requires no additional apps or accounts.

Interested in becoming a partner? Register to find out more or check out our resources and FAQs for merchants. No dev work required—seriously!