Complete Guide To Using Alternative Payment Method in Shopify

When finalizing a purchase, one of the first things that people look for on an online store is the payment modes it has to offer. It is seen that most people require a mix of alternative payment and credit card payment-based options. And if the payment choices don’t suit them, they simply walk away.

Alternatively, having more payment methods can help to increase your e-store sales. According to several studies, having at least three most used payment options can boost your eCommerce website sales by up to 71%.

What Is The Alternative Payment Method In Shopify?

Also known as APM, alternative payment methods include different options to make online payments. The most common APMs are eWallets, prepaid cards, bank transfers, and mobile payments.

expert Shopify developers

If you have a Shopify store and don’t want to use Shopify Payments, don’t fret. There are over 100 credit card payment providers you can choose from for your Shopify store.

In this article, we will look at the different ways to set up third-party payment providers in your Shopify store to offer an improved customer experience.

Benefits Of Having Alternative Payment Methods In Shopify

Improved conversion rates

With more payment options, buyers can easily find their preferred payment mode that suits their needs. This decreases their dwell time on products added to the cart, resulting in quickly completed purchases.         
           

Reduced cart abandonment

 More payment options give increased flexibility to the buyers to complete their purchase. This brings down the cart abandonment rate      by at least 12%.
           

Better brand credibility

An eCommerce store with many alternative payment options is seen as much more reliable and credible than the rest.          
           

Hassle-free checkout experience

 Alternative payment options ensure a smooth and seamless checkout experience. This promotes returning customers.   

How To Configure Third-Party Payment Providers?

To activate third-party payment providers for your Shopify website, you need to follow the below-mentioned steps:

  1. Log in to your Shopify store. Then, click on the ‘Settings’ tab present on the lower left-hand side of the page. After that, click on ‘Payments
               
  2. In the ‘Third-party providers’ section, click on ‘Choose third-party provider.’
               
  3. Choose the provider that you want to add to your Shopify store from the given list.
               
  4. Enter the account credentials for the selected provider and click on             ‘Activate.’

To activate third-party payment providers for your Shopify iOS or Android app, you need to follow the below-mentioned steps:

  1. Log in to your Shopify app. Go to Store and click on ‘Settings.’     
               
  2. Under Store settings, click on the ‘Payments’ option.          
               
  3. In the ‘Third-party providers’ section, click on ‘Choose third-party provider.’
               
  4. Choose the provider that you want to add to your Shopify store from the given list.
               
  5. Enter the account credentials for the selected provider and click on             ‘Activate.’

Change Your Credit Card Payment Provider

To modify the credit card payment provider for your Shopify website, you need to follow the below-mentioned steps:

  1. From your Shopify account, go to ‘Settings’ and then click on ‘Payments’.
               
  2. Click on ‘Choose another provider’
               
  3. Choose the provider that you want to use from the given list.
               
  4. Enter the account credentials for the selected provider and click on             ‘Activate.’ Your chosen payment provider that you select will be active on your store.            

To change credit card payment provider for your Shopify iOS or Android app, you need to follow the below-mentioned steps:

  1. Log in to your Shopify app. Go to Store and click on ‘Settings.’     
               
  2. Under Store settings, click on the ‘Payments’ option.          
               
  3. Click on ‘Choose another provider’
               
  4. Choose the provider that you want to use from the given list.
               
  5. Enter the account credentials for the selected provider and click on             ‘Activate’ to start your chosen service provider on your store.           

Deactivate Alternative Payment Methods

To deactivate alternative payment methods for your Shopify website, you need to follow the below-mentioned steps:

  1. From your Shopify account, go to ‘Settings’ and then click on ‘Payments’.
               
  2. From the Alternative Payments section, click on ‘Choose alternative payment’
               
  3. Choose the provider that you want to disable and click on ‘Deactivate’

How Many Payment Methods Do You Need to Set Up on Your Store?

Although Shopify offers complete flexibility to add as many payment methods as you want to your store, it is important to see and understand what your target audience is looking for. Once you know their purchase behavior, it will be easier to set up alternative payment options that suit them the most. And this will culminate into increased sales.

Conclusion

These are some simple steps to help you integrate alternative payment options to your Shopify store. Remember the more barriers you can remove to offer a seamless checkout process, the better it is. Hire a reputed and experienced eCommerce development company that can develop your eCommerce store based on the Shopify platform with the help of expert Shopify developers.

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