Electronic wallets are a popular payment method, especially abroad. In the Czech Republic, e-shop owners still tend to overlook them. However, Czech data speaks clearly – payments via electronic wallets, especially Apple Pay and Google Pay, are on the rise. Now is the right time to add them to your WooCommerce store and be prepared for the future.
In today’s article, we’ll explain what electronic wallets are, what they can bring to your e-shop, and how to implement them.
What are electronic wallets and why do users like them?
Electronic wallets are applications that allow users to make payments, both online and in physical stores. Unlike card payments, wallet payments are anonymous, while also being fast and simple.
Users can fund their electronic wallet from their bank account or store a payment card directly in the wallet and link it to their account. This is the case with Google Pay and Apple Pay, which also allow users to pay in physical stores.
Google Pay and Apple Pay, built into Android and iOS operating systems on smartphones, are the most widely used. Customers can pay in your e-shop with a single click, provided that your store accepts these payment methods.
For customers, paying via electronic wallets in an e-shop is very fast and convenient because there is no need to manually enter card details. At the same time, payment security remains at a high level.
Benefits of electronic wallets for your e-shop
The popularity of electronic wallet payments, especially Google Pay and Apple Pay, is growing among customers. Although they are not yet the leading payment methods by total volume, unlike some other methods, they continue to gain strength. This trend is expected to continue, and payments via Google Pay and Apple Pay will play an increasingly important role in Czech e-commerce.
To avoid missing out on this trend, we recommend carefully considering offering these payment methods in your e-shop.
By enabling payments via Google Pay and Apple Pay:
- You increase customer convenience: Fast and easy payments without entering card details improve the customer experience and encourage repeat purchases.
- You improve your conversion rate: Simplifying the payment process reduces cart abandonment and increases the number of completed orders.
- You reach new customer groups: Many people prefer paying with electronic wallets, so offering Apple Pay and Google Pay can be the reason they choose your e-shop over others.
How to integrate electronic wallets into your WooCommerce checkout?
Have you decided to add electronic wallet payments to your store? There’s no need to worry about implementation—it’s very simple. Google Pay and Apple Pay payments are already a standard part of most payment gateways. All payment gateways for which we offer integration plugins include this option.
If you already have a payment gateway implemented in your store, you likely just need to enable this payment method in the payment settings. Check with your payment gateway provider whether additional approval is required on their side. For example, this is necessary with the GoPay payment gateway.
TIP: Are Google Pay and Apple Pay not enough? Choose the GoPay Inline payment gateway, which in addition to Google Pay and Apple Pay also supports popular electronic wallets such as GoPay and PayPal.
If you do not yet have a payment gateway in your WooCommerce store, our article A payment gateway is the foundation of an e-shop. How to choose the right one? will help you select the best option.
The future belongs to electronic wallets
Electronic wallets are a growing trend in e-shop and in-store payments. Their biggest benefit is simplifying the entire process without compromising transaction security. Thanks to this, they are gaining increasing popularity among customers.
Meet your customers’ preferences and allow them to pay with electronic wallets. You’ll see the difference in customer satisfaction and conversions. Take a look at the payment gateways that support Google Pay and Apple Pay today.