Discover Alternative payment methods
The e-commerce industry is changing rapidly. New trends come and go, new audiences emerge, and customer expectations change. Given the changing trends and user preferences, businesses must respond to the changes and offer new solutions. One such trend that is becoming increasingly important is the use of alternative payment methods.
The active adoption of alternative payment systems is associated with Generation Z and millennials, who have a purchasing power of over $200 billion per year. The amount is colossal, so it is not worth neglecting the demands of young customers. For them, the availability of alternative payment methods is the most important advantage when choosing a website or shop.
Alternative payment solutions are just one of the many innovations adopted by the modern shopper, but it can have a big impact on purchase decisions. Billblend has support for over 100 payment systems and over 70 currencies, including digital assets. This variety of alternative payment options will appeal to all customers.
What are alternative payment methods?
Alternative payment systems are much more than just a technical implementation or a tool to receive funds through an e-wallet, cryptocurrency wallet, bank account or other payment methods. Alternative payment solutions can include card payment by QR code, transfer by phone number, payment in instalments or instalments, purchase on credit, payment after receipt of goods. The use of alternative ways of payment allows to attract new customers, as they have a choice of different options of purchase. They can choose the method that suits them, which increases the conversion rate and therefore the profitability of the company.
Billblend refers to alternative payment providers for high-risk businesses. The company specialises in working with betting shops, online casinos, poker rooms, investment projects and other businesses that use alternative payment systems.
Billblend offers partners global alternative payment methods, with the company helping partners select the optimal set of payment systems. To determine the selection of advanced payment acceptance methods, it is important to answer four simple questions:
- which devices my customers use most often;
- who my customers are: gender, age, interests, financial security;
- the geography of my customers and which payment methods are most popular;
- how payments are processed by the top companies in my industry.
By answering these four questions you will be able to pick the best alternative payment methods that customers use. By providing alternative payment options, merchants can avoid forcing customers to abandon a purchase because of the high cost of an item. Instead, you can provide the customer with a variety of options that will make almost any purchase easier.
Payment methods and what to do next
The selection of alternative payment methods can vary from region to region, but there are payment solutions that are very popular. Some of the most popular alternative payment methods that Billblend offers its partners include:
- QR code payments;
- quick transfers;
- instalment payments;
- payment from the balance of an electronic or cryptocurrency wallet.
You can find out about all the payment systems that Billblend has through the feedback form. Specialists will tell you about Billblend opportunities for your business.
If you plan to expand the geography of your business, increase turnover and attract new customers, it is impossible to stay in the past. It is important to pay attention to modern alternative payment methods.
The emergence of alternative payment methods is certainly not the latest innovation, in e-commerce, but it is a very important one. For businesses to stay on trend it is important to keep an eye on all innovations as it allows them to expand their market presence. In order to achieve success and keep it for many years, you need to create all possible conditions so that customers not only make purchases, but also come back for more.
At Billblend you will find innovative solutions for your business, free website integration for accepting payments, support for all modern payment methods, including rare ones like agency programmes. You can book a free consultation to learn about all alternative payment solutions.
FAQ
Which businesses are most in need of alternative payment methods?
Some market segments are most in need of alternative payment methods, namely Forex, binary options, gambling, betting, marketing agencies, e-goods and video games, gaming marketplaces, deating sites, freelancers, web design studios, IT teams, travel, e-commerce, infobusiness, training.
What are the most popular alternative payment methods?
Some of the most popular alternative payment methods include digital wallets such as Apple Pay and Google Pay, cryptocurrency, bank transfers, instalment payments.
What is the difference between alternative and preferred payment methods?
A preferred payment method is the default payment method that a customer chooses to use when making a purchase, while an alternative payment method is any payment method other than cash, credit or debit card.
