Payment Methods for E-Commerce: A Beginner Guide for Merchants

By Cory Maki Cory Maki has been verified by Muck Rack's editorial team
Published on September 16, 2022

The secret of successful e-commerce stores is the easy and comprehensive payment system. If payments can be made without interruption, customers will flow to the store.

If you can’t provide a good payment system to the customer in your online store, you can’t make money from it. Even with a successful setup, not paying a priority will be the end of the business. Payment ways are of different types and plenty of them are available to assist with ideal payment procedures.

You can choose from a wide range of payment options to suit your e-business, both local and foreign. However, e-commerce merchants face various problems when choosing a suitable payment method. 

The purpose of this article is to help you through the most common seller questions. This beginner guide has given you details on the top online payment methods to consider for merchants.

7 types of e-commerce payment methods for merchants

Payment methods are of different types and they can be primarily classified as payment gateways, payment procedures, and traders accounts. Below are the top 12 payment methods for each of these payment ways.

As a merchant, you can choose an online payment guarantee that ensures fast and stress-free e-commerce payment success.

1.      Direct bank transfer

Nowadays, a bank transfer is an essential and popular payment method for e-commerce and does not require the customer to have a card for payment. Credit card and debit card-related payments are constantly changing with technology. Many e-commerce sites use this method as a mandatory payment method, and some use it ‘if all else fails.

2.      Open banking

Open banking is a secure payment method that allows a third-party payment or financial service to access the data of banks and other financial institutions. Thus third-party companies use app programming units, or APIs, to access data. Open banking is a well-knowing payment method as it gives for rapid, more reliable, and secure transactions anywhere in the world.

3.      Credit and debit cards payments

As a payment solution, merchants can reach an international market by enabling payment acceptance through cards. Card payments can be considered one of the best payment ways for e-commerce transactions. Card payments have become a popular form of payment among consumers shopping online as transactions are convenient and secure.

4.      Digital wallets

Digital wallets are another successful method of paying for e-commerce purchases, driven by offerings such as Apple Pay, and Samsung Pay. This allows customers to pay virtual money through their bank card. Below are some of the best alternatives to online payments methods that can be done through digital wallets


This is the world’s famous online payment method offering ease of use, reliability, and security. That’s why we recommend PayPal, used by over 250M users in over many countries globally. PayPal is a good payment method for e-commerce merchants who have not yet found a good payment method.

Apple Pay

It is Apple’s m-commerce payment provider that uses strong security measures. This is a great payment method in e-commerce as consumers can utilize easy touch recognition to check out, giving customers exceptional convenience and flexibility.

Amazon Pay

Amazon Pay is a payment method similar to Apple Pay that facilitates payments between billions of users. Amazon charges 30 cents and 2.99% for each transaction for this service.

Google Pay

Another payment option that e-commerce store owners can use offers flexibility to customers. Google Pay is a successful payment method for e-commerce store owners due to the added convenience and speed of not charging customers anything to use it.


Why should you offer multiple payment methods in your e-commerce business?

There are many benefits to your e-commerce business by offering multiple payment options to your customers. Benefits such as convenience and anticipation, audience growth, and brand trust will boost your business.

Merchants should give the customer the convenience and expectation to choose a payment method of their choice. If they don’t have the payment method they expect, it will eventually lead them to go elsewhere.

As a business that puts your customers’ needs at heart, offering more payment options increases your sales and keeps customers buying with your business. And this will also be a great reason to raise your brand profile. By offering a variety of seamless payment options, you can attract a large number of customers.

In the present world of retail, the use of multiple robust payment methods leads to higher brand trust as consumers value trust. The brand is transparent and trusted not only by your product but also by secure payment methods. Trust is an essential growth tool for any e-commerce business brand. If you provide an integrated mix of secure and convenient payment methods, your revenue will increase together.


As an e-commerce merchant, you want to invest in the right tools to make payments to the store or website as easy and seamless as possible. When you operate with the best payment options, you can see your sales increase. You should closely monitor your sales sources so that you can check which payment options are the best.

This article is a beginner’s guide for merchants that includes payment methods for e-commerce. Here we have recommended world-famous payment options which are used for the best e-commerce. Always using multiple payment methods will attract your customers and keep them with the business for a long time. The last piece of advice you can give is ‘always work with the right tool.

By Cory Maki Cory Maki has been verified by Muck Rack's editorial team

Cory Maki is a former Staff Editor and the Business Development Manager at Grit Daily.

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