Conversion rate measures the percentage of website or app visitors who take a desired action, like making a purchase or filling out a form. Adding online payment options to an e-commerce platform can significantly boost conversion rates, making it a crucial metric for online store success

Read about increasing conversion rates with the right online payment platforms

There are a few ways that adding online payment options can increase the conversion rate of an e-commerce website or app:

Convenience:

By providing a variety of online payment options, you can simplify the purchasing experience for customers and increase the likelihood of completing a transaction.

Instant feedback:

Online payments offer immediate transaction confirmation, providing peace of mind for both consumers and merchants. This instant feedback can contribute to higher online conversion rates.

Trust:

By accepting online payments, merchants demonstrate their credibility and commitment to a secure shopping experience. This can instill confidence in consumers and drive higher conversions.

Optimization:

With 44% of online payments coming from mobile devices in UAE in 2021 (cybersecurity), many online payment options, such as Apple Pay and Google Pay, are optimized for mobile devices. This makes it easier for customers to make a purchase on their smartphone or tablet, which can increase the conversion rate for mobile users.

Security:

Online payment options can provide an additional layer of security for customers, which can increase their trust in the website or app and encourage them to make a purchase.

Overall, adding at least the top three payment methods in a given market or country to an e-commerce website or app can increase the conversion rate by up to 30% based on ACI worldwide. This is a significant increase that merchants cannot ignore.
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