Local Payment Methods
What are the local payment methods?
Local payment methods are methods that are specific to certain regions. In order to provide a high-level service to clients, merchants should offer them a choice of local methods. The variety of payment methods ensures a better conversion and lower cart abandonment rate.
Well, the payment itself means a value shift from one party to another in return for offered goods or services. There are different types of payments. But, basically, they involve cash, payment cards, or (e)checks.
Local payment methods may also be in the form of select payment cards. As a rule, Visa and Mastercard are widely used across all the continents. On the other hand, another huge card network – Amex – is more popular across North America. Except for payment cards, customers might wish to use country-specific e-wallets or mobile checkout options.
Customers feel safer and more comfortable when they see a selection of payment methods they know. That, in its turn, helps to grow trust in your company and its reliability.
Let’s take a look at some local payment methods.
For example, German customers prefer to see the following methods: Sofort, PayPal, SEPA, Giropay, Visa, Mastercards, Klarna, etc.
Then, the Netherlands users prefer: iDEAL, Mastercard, Visa, SEPA direct debit, Klarna, etc.
And the UK shoppers are happy to see: Visa, Mastercard, Amex, Paypal, BACS direct debit, etc.