Cover the basics well
Card payment and the major mobile wallets cover the large majority of shoppers. Wallets in particular improve mobile conversion noticeably, because they remove the card entry step entirely.
Getting those two working smoothly matters more than offering eight methods badly.
What each costs and gains
| Method | Typical fee | Effect |
|---|---|---|
| Card | 1.5–3% plus fixed | Baseline |
| Mobile wallets | Same as card | Noticeably better on mobile |
| Digital wallets | Slightly higher | Trust for cautious buyers |
| Buy now pay later | 3–6% | Higher order value, higher fee |
| Bank transfer | Low | Useful for trade and large orders |
Buy now pay later is a trade
It reliably raises average order value and it costs several times a card fee. Whether that is worth it depends entirely on your margin, and it is worth calculating rather than assuming.
In some categories it clearly pays; in thin-margin ones it does not. Test it and measure the margin effect, not just the order value.
Do not offer everything
- Each method is another integration to maintain
- Each is another reconciliation in your accounts
- Too many choices at checkout adds friction rather than removing it
- Unfamiliar methods can reduce trust rather than adding it
Reconciliation matters
Every payment method pays out on its own schedule with its own fee structure. Reconciling several of them manually consumes real time each month.
Factor that into the decision, and make sure your accounting integration handles each method properly before adding it.