The importance of local payment methods when selling online
The ability to offer local forms of payment is important for building credibility and trust with online customers – especially when expanding to new markets. In many countries, traditional credit cards and digital wallets such as Apple Pay and PayPal are not commonly used, or are secondary to other more popular payment options, many of which are unique to each market.
From local banks, credit cards, and digital wallets to e-commerce installments and other consumer credit options, alternative payment methods account for a significant share of overall online payment transactions in emerging markets. By using a platform that offers a wide range of local payment methods in multiple markets, merchants selling across borders can offer the payment options most preferred by consumers in each market, with higher conversion and payment acceptance rates, and lower transaction fees.
Through the PayU Hub, PayU supports all major credit cards and other common online payment methods used around the world – along with the industry’s most extensive range of local and alternative payment options that will help you to reach the broadest possible share of customers in any market.