Payment Method
Category: payment
The specific way a buyer pays — credit card, bank transfer, digital wallet, BNPL, etc.
Payment methods in cross-border e-commerce include credit/debit cards, digital wallets (PayPal, Apple Pay), bank transfers (T/T), buy-now-pay-later (Klarna, Afterpay), and cash on delivery (COD). The availability of preferred payment methods varies significantly by market: credit cards dominate in the US/UK, Alipay/WeChat Pay in China, UPI in India, and iDEAL in the Netherlands. Offering local payment methods can increase conversion rates by 30% or more.
Examples
- • A Shopify store selling to German consumers should offer SEPA direct debit and PayPal, which together account for over 50% of German online payments.
- • In China, Alipay and WeChat Pay dominate with over 90% mobile payment market share; international credit cards have limited acceptance.
- • Offering Klarna or Afterpay buy-now-pay-later options on an EU store can increase average order value by 20-30%.