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Expert CallPayment Solutions in E-commerce in 2022
According to a report done by Worldpay digital wallets were the most preferred mode of payment at 36.3%, followed by credit cards at 22.6%, debit cards at 19.6%, cash at 4.8% and other methods accounting for 16.7%.
Implementing Various Payment Solutions
This means that as an e-commerce business, if you do not accept multiple payment options, then you are at risk of losing clients. Also if you have a retail store and do not accept cards you are also losing money.
However, implementing various payment solutions also comes with other challenges such as:
- Fraudulent transactions
- High costs of online payment solutions
- Integration challenges
- Charge backs
TOP payment processors
It is important that your online shop is providing the right payment solutions for your country. In Germany for e.g. only 20% of all users have credit cards and most users prefer alternative payment types like pay on invoice (pay later – after delivery).
Top 5 Processors worldwide
| Ranking | Processor | Market Share |
| 1 | PayPal | 58.45% |
| 2 | Stripe | 16.48% |
| 3 | Amazon Pay | 3.52% |
| 4 | Square Payments | 2.59% |
| 5 | Stripe Checkout | 2.31% |
Top 5 Processors in Germany
| Ranking | Processor | Market Share |
| 1 | Stripe | 49.48% |
| 2 | PayPal | 24.55% |
| 3 | Klarna | 16.91% |
| 4 | Amazon Pay | 3.02% |
| 5 | GiroPay | 1.98% |
Source: Datanyze, Inc
Finding the right Solution
While there seem to be many problems to solve, there are still solutions. For example, staying up to date with different legal and financial requirements will help you avoid unreasonable fees and enable you to all kinds of payment options.
Navigating all these challenges is not easy, and the variety of payment options does not make it easy. That is why we have a team of experienced individuals dedicated to implementing various payment options on your platform so that your customers can have a smooth payment process and also free up your time to handle your core business.
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