The more payment processing options an eCommerce merchant offers buyers, the more sales will occur. Each new option payment added at the checkout point results in a 5-20% increase in sales.

The vast majority of sales made by Internet merchants are made through credit cards. Consumers still prefer to make purchases online with credit cards over any other payment method.

Despite the popularity of credit cards, if a merchant doesn’t offer multiple payment methods, sales are being lost. Adding new payment methods gives merchants the opportunity to capture as many sales as possible from consumers visiting their websites.

Surprisingly, there are large segments of the population that do not have credit cards. And among those who do, many still prefer to use other payment methods.

Among Americans burdened with debt, a staggering number of consumers are inches away from maxing out their credit cards. Even if a consumer wants to buy from a site, there is a real possibility that the sale will be rejected because the buyer has exceeded the credit line available on the credit cards.

Additional payment options allow merchants to benefit from shoppers who don’t have cards, can’t use cards, or simply choose not to use credit cards for a purchase.

By far the easiest alternative payment option to offer shoppers is electronic checks. Most payment processing gateways already have electronic checks built into the payment gateway.

It is very easy to activate the electronic verification functionality in the gateway. Little to no additional paperwork is usually required. Once enabled, a shopper simply chooses from a dropdown menu whether their preferred payment method is credit card or electronic check.

Adding additional payment options is the fastest and easiest way to achieve increased eCommerce sales. Research alternative payment processing options offered by the payment gateway. You may find it to be a surprisingly effective way to increase profits.