Fixing the payment puzzle: Why customers use multiple methods

As the world becomes more connected, it’s important to understand all payment methods available and the different features and benefits they offer. Not only is it important for a customer to have a range of payment options available to them, but it also brings great advantages to businesses. Goods and services can be paid for across the globe, bringing businesses and their customers closer together.

Different payment methods include:

  • Cash payments
  • Credit cards
  • Debit cards
  • Direct debits
  • Money orders
  • Finance
  • Cheques
  • Electronic payments such as Paypal

Payment methods have improved over the years

Banking, is one of the world’s oldest businesses, has had to invest billions to keep up to date with modern technology. Because of the speed of newer technologies, it meant that banks were being left behind. And still to this day, many believe traditional banking is far behind the modern payment options available. Now with more and more payment options being available for customers and businesses to use, banking may soon start to fall behind again.

Why use different types of payment methods

Businesses and customers alike decide to use different payment methods for a variety of reasons. For example, credit cards are one of the most common types of payment methods because they are boost businesses sales and cash flows. Credit cards also improve legitimacy. Another type of payment is PayPal. Many customers enjoy using this method as it is trustworthy and an easy way to carry out international transactions.

Many people have a preference for using multiple payment options because certain purchases require different levels of payment. Having several payment options available makes a customers’ checkout experience much more convenient and accessible. From a business side, if a company accepts multiple payment methods, it will retain customer attention and ensure customers come back in the future.

Luxon Payments, the only payment method you need

Luxon Payments is a simple online payment service. It is fast, traceable, secure and provides low transaction fees for merchants. It is capable of processing all transactions in real time with both buyer and seller operating within the payment infrastructure. Luxon is able to help businesses create a fast, secure and efficient system for processing payments globally. Whilst doing this, Luxon mitigates all risks involved and reduced transaction costs.

The payments platform enables merchants to accept multi-currency payments from more than 10 different countries, with this number growing constantly. All payments made from these approved countries can be converted from the local currency to the Euro.

All payment methods in one place

Customers may use a puzzle of payments, they still expect a seamless experience. This is something Luxon is proud to be able to offer. The simple customer interface accepts a wide range of payments whilst consolidating a high level of the latest ID software available. Luxon believes in the power of technology and how it can adapt businesses for the better. It is a payment solution that offers businesses speed, flexibility, and security, something that is essential to businesses and customers worldwide.