Switch on the right payment methods – a guest post by Checkout

May 09, 2022

Latitude59’s Demo Area is full of startups who are busy revolutionizing their sector of the industry. Among the presenting booths, you’ll find Checkout.com’s team, dedicated to helping merchants optimize conversion by offering the payment methods their customers prefer, wherever they do business.

The payments landscape is rapidly evolving with new payment methods emerging in all corners of the world. It’s an exciting period of innovation. And, if you are looking to craft captivating experiences for your customers, it can be challenging to keep up. 

Our research shows that 60% of eCommerce shoppers will abandon their cart if they cannot pay using their preferred payment method. Losing a customer at the checkout because you have not offered a customer’s preferred payment method means sunk acquisition costs — and therefore lost revenue. 

At Checkout.com, we partner with you to seamlessly switch on the right alternative payment methods to reach new markets. Here’s how we do it:

Step One: We help you understand the trends in your key markets

We have people on the ground in key markets across the world — from Dubai and Riyadh to Hong Kong and Singapore, San Francisco and New York to Barcelona and Estonia — and we’re rapidly expanding into more. Analyzing consumer preferences and behaviors first-hand is one benefit of our global yet local approach. 

Understanding variations in banking and payment regulations is another. What’s more, we act as the legal trading entity for you in countries that mandate it, saving months of form filling and set-up costs. 

Step Two: We seamlessly switch on payment methods for you through our single API.

We have integrated scores of local payment methods which can all be accessed through our single API. And, when new ones are added you will be able to access them through this API. The same integration gives access to traditional payments too — all in one place. This means businesses can adapt to changing customer preferences quickly without taking on additional complexity.

Step Three: We offer continued support so you can keep your payment method offering up to date.

We want you to be able to seamlessly introduce new payment methods to your customers so that they keep coming back to your business. We will work with you to make sure your new payment method gains traction in the market. And, if your customers need help paying with the new payment method, we’ll step in.

At Checkout.com, every customer has a dedicated Customer Success Manager as well as access to our experts for ongoing consultancy. We will partner with you and listen to your needs — building strategies to help achieve your ambitions. We will become a partner for the long-term who ‘gets’ the business and makes regular, workable suggestions to improve it.

We want to work with you to build the best APM strategy so you can be confident that you can keep up with any changes in your business or to the market. We will become a partner for the long-term who ‘gets’ the business and makes regular, workable suggestions to improve it.

Offering the right payment methods at the right time to the right customers is an important part of making sure you convert sales at the checkout. Get in touch with us at Latitude59’s Demo Area on May 19-20 to find out more about how we can switch on new payment methods for you and your company.

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