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Insights and Expertise

3. Offer the payment methods customers actually want Payment methods should be tailored in the same way
as everything else in the ecommerce journey. For ex-
When it comes to choosing payment methods at check- ample, customers shopping on their phone may prefer
out, consumers want options. Businesses are well aware to make a purchase with their digital wallet since their
of this and, as a result, are making an effort to integrate physical card may not be readily accessible. On the oth-
as many different options into checkout as possible. er hand, customers who like to use their desktops for
larger purchases, especially for big ticket purchases,
But checkout should be a place where consumers see a are more likely to opt for pay-by-bank or another tradi-
curated selection of the payment methods that are most tional payment method.
relevant to them, not an endless array of options that
can be overwhelming and may ultimately lead shop- Checkout doesn't have to be a one-size-fits-all payment
pers to abandon their cart altogether. processor. Instead of offering every payment method
under the sun and hoping for the best, businesses can
One-click payment options have become a popular create personalized checkout experiences for each of
choice of shoppers in recent years. But in many cases, their customers, providing them with only the options
businesses have integrated so many of these options they know they'll use.
at checkout, from PayPal to Apple Pay to Amazon Pay
and more, that they've forgotten to actually pay atten- By looking more holistically at checkout, rather than sim-
tion to the ones their customers are using. ply viewing it as an opportunity to secure a purchase,
businesses can optimize checkout to not only boost rev-
By offering something like Apple Pay as their primary enue, but also increase transaction value and build a loyal
payment option, for instance, brands will never know customer base in the process.
which of their customers would have benefited from a
cross-sell, or signed up for a membership, during the Peter Karpas is CEO of Bold Commerce, the technology company that
checkout experience. powers personalized checkout experiences for leading omnichannel
retailers and direct-to-consumer brands. A payments industry veteran,
he previously held executive positions at Intuit, PayPal and First Data.
Contact him via LinkedIn at www.linkedin.com/in/peterkarpas.
Commercialization

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