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Which payment solution should I choose?

Different payment solutions integrate with different webshop platforms, not to mention offer different payment methods, customer support channels, and so on. And with your business influencing the solution you choose, the cheapest option may not always be right for you. With that in mind, we’ve put together a guide to help you make the best decision for your webshop.

Contents

Where should I begin?

Before you start to narrow down your options, consider the following factors:

  1. Integration: choose a payment solution that can be integrated with the webshop system you use.
  2. Support: if you are not an IT expert, choose a provider who can help you if you encounter transaction issues in your webshop. In addition, it’s important to offer your customers a range of payment methods so you don’t lose their business, so choose a solution that offers a lot of choice in this area.

What payment methods should I offer?

One of the most important things to consider when running a webshop is how easy it is for customers to make a purchase. Here is a list of things to check:

  1. Which cards should your payment solution accept?
    When you choose your payment solution, you also choose which cards your customers will be able to pay with.
    Therefore, it’s good to know that in Denmark, only 5% of the population uses Dankort and nothing else – with the remaining 95% using Visa/Dankort.
    Other popular payment methods include Visa and Mastercard, which are the most widely used payment methods worldwide.
  2. Does your business rely on payment methods such as MobilePay, Google Pay, Apple Pay or similar? Apps like MobilePay, Google Pay and Apple Pay are quick and easy to use online, making them extremely popular with customers. In fact, they are so popular that online payments with MobilePay accounted for 60% of all Danish webshop payments in 2021 – according to the Danish Business Federation –  with Google Pay, Apple Pay and similar apps also on the rise. Therefore, it would be worth considering a solution that offers online payment via such apps.
  3. How many sales/transactions do you expect to come through your webshop?
    If you only sell subscriptions, make a few sales per month, or have a limited budget, it might be a good idea to choose a payment solution that only charges you per transaction.
    That way you can avoid having to make room for another fixed expense in your budget.

Be aware of gateway and redeemer access

When choosing your payment solution, be aware that not all solutions include gateway and redeemer. All of which could mean the seemingly cheapest payment solution could come with unforeseen gateway or redemption costs.

Look at it this way. The cheapest payment solution should be the one that gives you the best value – while meeting all your webshop needs.

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