Choosing the right payment options for your online store is crucial to provide a seamless customer experience.
A surprisingly high amount of eCommerce customers (69.57%) abandon their carts. One of the reasons is that they can’t find their preferred payment option during checkout.
In this article, we will cover the most popular Sylius payment options you can use to make sure you won’t lose revenue because of lacking payment options.
As a bonus, all of the solutions listed below include an available Sylius plugin for faster implementation.
PayPal Commerce Platform is now available in Sylius with a quick and intuitive setup. Read more!
How do payments in eCommerce work?
The online store follows similar rules as a traditional store, especially when it comes to the transaction itself.
There is a seller who offers a product and the customer who pays for it. Simple as that – it is exactly the same in the eCommerce industry. The only difference is that the money is transferred in a virtual way from the customer’s account to the store’s account (there’s no coins or banknotes).
When deciding to run or develop an online store, you should obviously take care of the appropriate software, but the second thing that matters is an eCommerce payment system.
Some related issues will depend on that, such as various forms of payment, the returns policy, installment payments, and the most important – security.
It would seem that there are a number of related threats, but they are not justified. Most online payment providers take potential threats very seriously and make sure their solutions meet the highest security standards.
Types of payments in eCommerce
To adjust the type of payment to your Sylius-based eCommerce, you have to consider your potential customers’ needs first.
If they are older adults, it is best to choose the simplest and least complicated payment system.
When your offer is addressed to young people who value comfort and speed, you will probably choose more modern methods, including cryptocurrencies.
Below are several types of eCommerce payments that you can offer to your customers in a Sylius-based eCommerce store:
- Quick transfers – It is the most successful payment method and is most often used in eCommerce. The entire transaction runs smoothly and does not require too much commitment, so customers won’t have any problems using this method. The customer logs in to a bank account to authorize the payment, but all other data is filled in automatically, so there is no room for error. Accounting takes place immediately, so the purchased product can be sent immediately after the transfer is confirmed.
- Electronic wallet (also called e-wallet) – The user has to log in with the selected provider, then receives an account where the money is deposited. The further procedure looks like a regular payment for the service. The entire transaction is done very quickly, and the money is transferred instantly. The service is usually free, but in some cases, it may involve a commission. This type of payment works exactly like a traditional wallet, but virtually. Examples: Apple Pay, Google Pay.
- (Credit) Card payments – Undoubtedly, payments by a bank, debit, or credit card are a very popular method of payment for purchases in the online store. Most of the payment systems offer this method, so you can easily use it. It is a very convenient form of payment for customers. It is enough to enter the data on the card, the security code, and authorize the payment – if required by the buyer’s bank. The transfer is made automatically, so just like in the previous case you can start processing your order very quickly.
- Traditional transfer – There is no doubt that traditional transfers are a method that has lost its popularity. Although few internet users sometimes use this method of payment, it is associated with a long wait for the transfer to reach you. In addition, traditional transfers are usually the final choice resulting, for example, from the lack of your own bank account or the fact that the customer’s bank is not available in the payment system.
Sylius eCommerce Platform gives you many possibilities to integrate different payment methods just by choosing the right plugin.
Many PSP integrations make it easy to adjust to your eCommerce needs. An E-payment service provider is the intermediary between the online store and the banks.
The payment service provider provides full support for both technical payment processing and money collection. However, sometimes it may also only offer a gateway.
Payment solutions available in the Sylius-based eCommerce
Mollie – preferred Sylius payment solution provider for merchants
The integration supports the most popular payment methods like PayPal, ApplePay, or Klarna and features such as a convenient checkout, partial order fulfillment, easy refunds, and more. It is the most expanded and supported plugin for the platform.
Some of the included features:
- API integration
- Partial shipment, partial refunds
- Management of payment methods
- Card data validation
The integration supports the following payment methods:
- Credit Cards (Master Card, VISA, American Express)
- KBC/CBC Payment Button
- ING Home’Pay
- Belfius Pay Button
- Gift cards
Coinbase is a visionary company on a mission to make cryptocurrencies payments available to everyone around the world.
With over 35 million users (and growing), it’s certainly a payment solution worth considering. It’s a great addition if you would like to give your customers a bit more flexibility – especially if your target audience is more tech-savvy and interested in cryptocurrencies.
With over 20 years of experience in eCommerce, MultiSafepay advantages are experience, technology, and partnership focus.
This payment method gives you access to features like payment after delivery, multi-language and multi-currency, and split or recurring payments.
Payment solution acquired by PayPal in 2013 to help businesses drive more revenue globally.
Braintree puts enabling growth for all kinds of businesses in the first place and offers two core products: Braintree Direct (online payments solutions) and Braintree Extend (share and exchange data with your partners or service providers).
Adyen provides a universal solution for multi-channel payments, including in-app payments and in-store POS support.
It was founded in 2006 by a group of entrepreneurs to improve the quality of payment solutions available back then. Among its customers, you can find companies like Uber, Booking.com, or eBay.
Przelewy24 is one of the leading and most recognized payment service providers in Poland. It’s also included as an available payment method when shopping on Aliexpress.
It aggregates over 300 payment methods and recently merged with two other major payment solutions: DotPay and eCard.
How to choose the right payment solution for Sylius?
When choosing the right payment service provider, make sure that the system is secure, well-documented, or support is available from experienced developers.
You can’t keep wondering if you and your clients’ money is safe. We understand that the choice may not be easy. For some, security matters the most in Sylius-based eCommerce, and for some, a rich offer and a wide selection of payment channels.
To make the right choice, we encourage you to contact our experts who will advise you on the appropriate solution. You may request a free consultation on our contact page or fill the form below.