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Many would agree that it is a good business practice to offer your customers multiple options when making online payments. These options include credit card, debit cards, PayPal, purchase orders, money orders, cashiers checks and more. Methods of making these payments should also be offered online, by phone, or by mail. There are statistics that support the fact that your conversion rate will increase if you offer multiple methods of payment . When you think about all of the different demographics that make up online shoppers, they all have different expectations when doing online transactions. Multiple options are necessary to meet all of their needs.
Online companies need to adapt with the changing times, but also remember the older generations and make sure they are comfortable making online purchases as well. Many users like to have options or they have their own preference as to which payment method they use. This is why offering multiple payment methods can increase your conversion rate. If there is not an option that the customer specifically likes or feels comfortable using, they may well abandon their cart and you will have missed a sale.
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