Choosing the Best Payment Solution for Your Online Store

August 23, 2023
Did you know that selecting the right payment solution can significantly impact your business's success and growth? Here's what you need to consider to find the optimal payment solution for your online store.
Woman using her credit card to pay with phone as illustration of payment solutions online.

Business Needs and Target Audience

First and foremost, think about your specific needs. Which payment solution suits your online store best?

A business might require an e-commerce platform with integrated checkout, while a marketplace or app might need a more advanced payment solution for splitting payments among multiple providers. On the other hand, a restaurant might need a mobile payment app for customer convenience. Find what aligns with your business and customers.

Integration Possibilities with Your Online Store

What type of eCommerce platform are you using, and which payment providers offer seamless integration?

Just as there are various solutions for digital payments, there's a wide array of e-commerce platforms. 

Some platforms already have built-in solutions, but if you choose to only rely on these, you might not get the flexibility that your business should have in a payment service.

Opting for a payment provider that easily integrates with your eCommerce platform, and ideally your accounting software, offers greater flexibility. This streamlines payment administration, tracking, and eliminates manual data entry.

Close-up of a hand scrolling on a phone for payment solution illustration.

Secure and Reliable Payments

What security protocols does the payment provider follow?

Security and reliability are paramount when choosing a payment solution. Opt for a service with robust security protocols to safeguard your sensitive data as well as your customers'.

Flexible Online Payments

What payment methods do you want to offer your customers?

A 2022 Norwegian eCommerce report reveals that consumers choose payment methods based on speed, simplicity, perceived security, or habit.

By providing customers with flexibility and offering multiple payment options, you can eliminate barriers that might hinder purchases and lead to abandoned carts. The more options you have, the more accommodating you are to customers.

Common payment methods include:

Credit and Debit Cards

Most payment providers offer basic options like credit and debit cards. The 2022 eCommerce report shows that card payments still lead as the most used payment method among Norwegian consumers.

Mobile Payments

However, the report also highlights the rise of simple and smart options, such as mobile payments with Vipps.

A familiar 'issue' arises when a customer abandons a purchase because their card is left in another room when they're impulsively shopping from their couch. Offering alternative payment methods like mobile payments can solve this.

Partial Payments

Allowing customers to split payments over time can be beneficial, particularly if your average cart value is high. 

Providing options like Klarna's installment payments can remove barriers for customers needing payment flexibility.

Invoice Payments

More and more customers prefer paying with invoices, allowing them to try or inspect products before finalizing payment. The invoice reduces the risk of the customer abandoning the shopping cart if they are uncertain about the product

In combination with an efficient return process, invoice payments increase both customer experience and conversion rates over time.

iPhone with Dintero checkout open.

User-Friendly Payment Process

A payment provider offers various features that can significantly impact user-friendliness and, in turn, the conversion rate of your online store.

A Choice at Checkout

Ensure all payment methods your customers use are available. The freedom to choose from different payment methods at checkout is crucial for conversions.

Integrated Checkout

With an integrated checkout, customers don't have to leave your website to pay. This offers added reassurance and a user-friendly experience.

Quick and Easy Payment

Certain payment solutions offer a 'remember me' feature, storing customer information from previous purchases. This allows for pre-filled information at checkout, enabling quick and easy payment.

White-Label Payment

A white-label payment solution lets you personalize your checkout with your logo, presenting your brand throughout the purchasing process.

Female hand holding a payment card in front of a MacBook.

Costs and Fees

What's the cost of the payment solution?

There are various pricing models for payment solutions, and the best fit for your business depends on your average cart value, revenue, and your business's maturity.

Typical costs include transaction fees and monthly charges. Some providers might charge for setup, integration, support, and more. This will vary from provider to provider.

Look for a provider with a transparent pricing model, free from hidden fees or additional costs for special features.

Customer Service

What level of customer service do you desire?

Customer service is a crucial factor when choosing a payment solution. Opt for a service that offers efficient and helpful customer support and is easily accessible when you need assistance.

 Woman sitting in front of a PC for comparing payment providers illustration.

Why Invest Time in Finding the Right Payment Solution for Your Online Store?

While finding the right payment solution for your business might seem time-consuming, it's definitely worthwhile. Often overlooked, the payment solution can significantly impact your business's success.

Here are some of the key advantages of a good payment solution:

Enhanced Customer Satisfaction

Improve customer satisfaction by offering a simple and reliable payment process. Customers will feel secure about their payment information and confident that transactions will be handled efficiently.

Reduced Costs

Cut costs by spending less time on manual payment processing and minimizing the risk of errors.

Increased Conversion Rate

A straightforward, speedy, and dependable payment process increases the likelihood of customers completing their purchases. This can lead to fewer abandoned carts and higher revenue for your business.


A strong payment service can grow with your business's needs and increasing transaction volumes.

Competitive Advantage

Stand out by offering more payment methods and an improved user experience compared to competitors.