Learn how to Select the Best Ecwid Payment Gateway Plugin to Make the Most of your Store.
If you’re planning on using Ecwid as a platform for your ecommerce business, make sure you can reliably and securely accept payments. This post will help you choose the right payment gateway to give your customers the best possible payment experience – and boost your profits.
Learn how using an Ecwid Payment Gateway Plugin that offers multiple currencies, payment methods, anti-fraud protection, and a great checkout experience, is essential if you’re looking to grow globally. Here’s how to get started.
1. Get to Know Your Customers’ Preferred Payment Methods
It pays to understand your customers’ favorite payment methods. It’s even more important for merchants trading internationally, as consumer preferences often vary by country.
That’s why you’ll need to look at where you’re planning on selling and make sure you choose an Ecwid payment gateway that supports all those countries and offers customers their preferred local payment methods based on their location. For example, bank transfers are popular with Mexican consumers, cash vouchers are popular in Latin America, eWallets are a favorite way to pay online throughout Southeast Asia.
Choosing the right methods to accept Ecwid payments has multiple benefits. By offering their preferred payment methods, customers will have a much better experience using your online store and so will buy more and be more loyal. More payment methods also lead to an increase in conversions and a decrease in abandoned carts.
2. Compare Fees and Locations of Potential Payment Providers
Your choice of payment gateway provider will also depend on your location. Not all providers will be available for merchants domiciled in your location, so make sure you choose one that’s going that supports your country for your ecommerce business.
Ecwid transaction fees are also an important consideration because you don’t want hefty charges eating into your profit margin. Providers will charge transaction fees which are generally a set percentage per transaction plus a small flat fee, however, this amount can vary greatly from provider to provider.
Check whether other charges are involved, such as monthly fees, setup fees, or fraud prevention charges. The ideal solution is to select a payment provider, like the Rapyd Ecwid Payment Gateway Plugin, that offers transparent pricing with no setup fees or surprise charges.
Find out the fastest-growing opportunities in ecommerce for your Ecwid store.
3. Accept Payments in Multiple Currencies
No matter where your customers are based, accepting payments in their local currencies is crucial for building and maintaining trust and loyalty. Create a localized experience by displaying prices in local currencies and accepting payments from those currencies. Do this and you’ll give customers a familiar experience that builds trust and grows loyalty.
How to Automatically Localize your Prices in Ecwid
Being able to see prices in their own currency means avoiding confusion as they try to convert an unfamiliar currency into their own before deciding whether to buy—something that could increase cart abandonment. You can create a localized checkout experience directly with Ecwid by using the Regional Settings (under Settings – General) in the admin area of your store. For multiple currencies, you can use the official Currency Converter app, found in the Ecwid App Market.
4. Ensure your Payments are Secure and Protected from Fraud
Payments fraud can seriously impact your business, but using a secure and reliable payment gateway helps to protect you and your customers alike. Chargeback fraud is a particularly serious concern in the ecommerce world, with the potential to incur sizable losses thanks to this growing threat.
Payment fraud and data security have more consequences than just loss of revenue, if merchants aren’t fully in compliance they run the risk of financial penalties. This is why you’ll want to choose a payment provider with local expertise that understands exactly what you need to do in terms of payment and data security.
Choose an Ecwid Payment Gateway that Pays Off
While most Ecwid payment processors will accept international payments, not all of them offer comprehensive global coverage and a true range of local payment methods.
You want to select a payment gateway that covers all the bases and can be used throughout the world. The Rapyd Ecwid Payment Plugin is one such option, which not only lets you add payment methods in minutes but also offers fraud protection and multi-currency support too.
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