Mobile Payment Systems: The Era of a Cashless Future

February 17, 2019 2:00 pm Published by Leave your thoughts

The way consumers make payments for purchases and services have come a long way. Gone were the days of carrying wads of cash or endlessly swiping credit cards. Today, customers have much more convenient payment options.

One mode of payment that has really taken off is the mobile payment system. Customers now have the option to purchase goods and make payment all from the the palm of their hands – the smartphone.

As more and more people own smartphones, so have online stores that offer easy payment modes though mobile. It has also led to growing revenues for both large online marketplaces as well as smaller individual webstores. The easier the mode of payment, the better conversion rates (and lower cart abandonment).

 

Making it easier for your customer to pay

Creating a cashless society is no longer just a dream, but is already unfolding right now. With more mobile payment systems, consumers find it easier to shop online.

Have you ever asked yourself why do so many people shop online nowadays? It has a lot to do with convenience. They can shop, buy and receive their goods without leaving the comfort of their home or office.

For an online store to be convenient, you should not only make it easy for your customers to browse and add items to cart, but also make it easy for them to make payment.

 

From online banking to e-wallets

Providing your customers with multiple payment options will make a real impact on your sales. Especially when the payment method can be done easily and quickly.

Among the many mobile payment systems in Southeast Asia, none are more established than MOLpay. The payment system accepts online banking, credit card, debit card, and even cash (MOLpay Cash).

PayPal is also another popular option, though not as widely used by consumers as MOLpay. But there’s no harm in adding that as one of your webstore’s payment options. Even if it’s the least preferred method of payment, it’s still an easy way for your customer to pay if he or she chooses that option.

With AVANA, sellers have the option to also use AVApay. It’s a mobile payment system that offers both online banking and credit card payment. At 3% (+0% SST), it has the lowest fees compared to MOLpay and PayPal.

AVApay does make for an ideal option for sellers. Low fees while providing a safe and convenient payment method for your customers.

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This post was written by Nina