Shopify Payments: Accept Alternative Payment Methods with Rapyd

Accept Local Payment Methods in Shopify with the Rapyd Shopify Payments Plugin

The ecommerce platform Shopify is an excellent choice for businesses looking to sell internationally and boost their global trade. While Shopify offers its own payment solution, you can opt to use third-party payment gateways to add even more functionality, including accepting payments in more countries and accepting alternative payment methods. Afterall, many international customers don’t use credit cards.

The Rapyd Shopify Payments Plugin is the most comprehensive payment plugin, with more local payment methods to power international sales and grow your global brand.

Why You Need to Accept Local Payment Methods

Accepting local payment methods opens up a world of new markets to merchants. It means you can offer payments that are readily available and familiar to global consumers, some of whom may have limited options for paying online available to them.

It’s important to realize that successful cross-border trading relies on localizing aspects of your digital presence, things like user experience, language, currency and payment methods.

This is even more so since the COVID-19 pandemic, with many consumers feeling ‘safer’ shopping online. So merchants should be looking to harness the growth of digital commerce. And local/alternative payment methods are key. Whether it’s a local alternative to credit cards, or one of the mobile payment methods that are increasing in worldwide popularity, building a cross-border digital commerce strategy that makes use of local Shopify payment methods will be incredibly valuable.

Alternative Payments Are Growing in Popularity Across the Globe

Since the pandemic began, 20% of Chinese consumers report using a digital payment method for the first time, and 11% of US consumers report the same (Rapyd 5).

Purchasing in general has shifted online due to the global pandemic, and the percentages of consumers buying more online are unsurprisingly high (Rapyd 9):

Percent of Consumers Who Shop Online

• China 60%
• US 41%
• Italy 39%
• Canada 34%
• UK 32%
• France 30%

Even before the pandemic caused an international increase in online demand, 91% of merchants in the US said they saw cross-border sales as a moderate to high priority for their business (Rapyd 14). Business owners know that global ecommerce is the future, add a payment gateway to Shopify that enables international alternative payment methods  to capitalize on this trend and gain cross border market share.

Shopify Payment Processing with Rapyd

The Rapyd Shopify Payments Plugin lets you set up local and alternative payment methods to give your global customer base more options. By giving consumers a way of paying online without having to use a traditional credit or debit card, you can reach more customers, reduce cart abandonment and increase sales.

• • Add top popular payment methods in 100+ countries with no coding required.
  • Global reach – add local payment methods to checkouts in different countries.
  • Multiple currencies supported.
  • Fully certified PCI-DSS solution for compliance and fraud protection.
  • Local, fast settlement.

Sources

Rapyd. Playbook for the New Era of Digital Commerce. Rapyd, 2020.