Which payment solution is best for your e-commerce?
Increased sales, satisfied returning customers, and high order values. With the help of a smooth payment solution that connects your brand with ease and efficiency, this can become a reality. It should be easy for the customer, with no worries in sight. An appealing checkout, combined with smart call to actions and unique customer offers, can significantly increase the conversion rate.
There are numerous payment solutions available online. They can be combined in many different ways, and a large number of providers offer smooth, smart, and flexible setups. When choosing a payment solution for your business, you must consider several factors: your own preferences, transaction fees, support options, legal requirements, and technology, among others. And, of course: what your customers need and prioritize.
You know best which parameters are most important to your customers - such as speed, convenience, security, and trust. According to Postnord's e-barometer, an increasing number of customers are abandoning online purchases. One reason could be that the online store does not offer the payment option that the customer prefers, highlighting how crucial it is to choose the right payment method for your target audience.
Here at BusinessWith, we help you navigate through a variety of checkout solutions. With our smart system, you can filter and compare payment services and find the best payment solution for your business. Think like a customer when choosing a payment solution - it supports you in selecting the right payment solution for your company.
Quick Guide
Quick Guide
Payment Solution, Payment Method, and Payment Provider – We Explain the Terms
Shopping online should be easy. However, today there are numerous payment providers, payment solutions, and payment methods. The options are many for you as a business owner. It’s not always easy to keep up, not even for those of us in the industry. With our guide, you’ll quickly grasp the basics.
What is a payment provider and what is a payment solution?
A payment provider offers one or more payment methods (more on that further down the page). Sometimes the provider only offers their own, sometimes also others.
A payment provider often refers to their payment methods and any packages as payment solutions. The dominant provider is Klarna, which offers several different packages. Klarna Checkout is a popular payment solution that includes several payment methods: Klarna invoice, direct payment via bank, and card payment. Swish is another popular provider, offering two payment solutions: “Swish for businesses” and “Swish for commerce”. There are many others, with various types of offers, which you’ll notice when using our comparison service.
You can choose one or more payment providers and one or more payment solutions for your site.
What is a payment method?
Payment methods are the methods used for payment. There are several different ones, such as credit or debit cards, invoices, SMS, and cash on delivery, to name a few. Direct payment via Swish, Apple Pay, or online banking is popular.
For a long time, card payments have dominated, but fewer and fewer customers are choosing that. At the same time, more and more prefer invoice services in connection with e-commerce, as shown by a report from the employer organization Svensk Handel. This can, according to the survey, be explained by the increasing use of Klarna.
8 out of 10 prefer to verify their payments through mobile bank ID, with women doing so slightly more than men, according to the report. For those who want to delve deeper, we recommend studies from Svensk Handel, which regularly reports on the development of trade.
Stay Updated
If you run an e-commerce, you need a checkout that works every time, is secure, and inspires trust.
When choosing what is best for you and your business: calculate the cost of the method you choose. Include start-up costs, monthly fees, and the cost of individual transactions in your calculations.
BusinessWith helps you find the best payment solution for your business or organization. Welcome to compare payment solutions directly!
