When customers decide which e-shop to buy from, even details such as available payment methods at checkout can play an important role. Customers are used to common payment methods, but why not attract them with something special?
There are countless e-shops in the Czech Republic and new ones keep appearing. Competition in most industries is enormous, and winning customers requires effort. Building a strong brand, providing excellent customer service, and offering a unique product range are great ways to stand out—but sometimes they are not enough. In today’s article, we’ll look at less common payment methods that can help you stand out even more.
Alternative payment methods in an e-shop: why yes, why no?
The selection of payment methods at checkout significantly influences your e-shop’s conversion rate. Customers expect commonly used payment methods, and if an e-shop does not offer their preferred option, they may not complete their order.
But if most customers are satisfied with card payments, bank transfers, and cash on delivery, why offer anything else? The reasons may include:
- differentiation – offering less common payment methods can be a strong argument for why customers should buy from you
- reaching new customers – certain target groups prefer alternative payment methods. With the right choice, you can reach a new niche (e.g., users with meal voucher cards, tech-savvy customers paying with cryptocurrencies, etc.)
- purchase incentive – some alternative payment methods, such as deferred payments or installments, can effectively convince hesitant customers. They can increase not only conversions but also average order value and purchase frequency.
When adding new payment methods, watch out for:
- lack of clarity and too many options – offering too many payment methods can make checkout confusing and may lead to abandoned orders
- replacing standard methods with alternatives – removing common payment methods in favor of alternatives may result in customers not finding their preferred option
- payment complexity – complicated processes may discourage customers who choose less common payment methods
- poor communication – if customers do not understand the payment options, they may abandon the purchase before or during payment
Choosing alternative payment methods should therefore be well thought out. Consider:
- the goal you want to achieve
- your target audience
- the checkout process
- implementation complexity
Which alternative payment methods can you offer in an e-shop?
As mentioned earlier, the most popular payment methods remain card payments, (online) bank transfers, and cash on delivery. Recently, electronic wallets have also gained popularity—we covered them in our article Electronic wallets for your WooCommerce store: simplify payments, reach more customers, and prepare for the future.
Now let’s look at even more niche methods that are offered only occasionally by e-shops.
Cryptocurrency payments (Bitcoin and others)
The popularity of cryptocurrencies as an investment tool continues to grow. Paying with cryptocurrencies for goods and services is following at a slightly slower pace. Companies like Microsoft, Badoo, or the Czech retailer Alza already accept Bitcoin.
Cryptocurrency payments are fast, convenient, and anonymous. This option is particularly appreciated by more tech-oriented users.
You can easily implement cryptocurrency payments in your e-shop via a payment gateway that supports them. For WooCommerce, for example, GoPay Inline or ThePay 2.0 support Bitcoin payments. Customers pay via the gateway, and the cryptocurrency is converted into the order currency before being credited to the merchant.
Prepaid cards, voucher payments, Paysafecard
Prepaid cards and vouchers are especially popular among younger generations. These are cards or vouchers preloaded with funds. Since they are not linked to personal data, they offer a secure and anonymous payment method. A possible disadvantage is payment limits for some services.
The best-known example is Paysafecard, widely used for in-app payments and gradually expanding into e-commerce. You can integrate Paysafecard into WooCommerce via payment gateways such as GoPay Inline.
Premium SMS
Another alternative method is Premium SMS payments. Customers send an SMS in a specified format to a special phone number. The charged amount is determined by the number used and is billed by the mobile operator.
Premium SMS is typically used for specific products such as tickets, parking, paywalls, credits, or donation SMS. Its advantages include easy execution and integration.
Disadvantages include delayed payouts and operator fees. Payment amounts are usually limited, and not all operators support Premium SMS.
How to enable Premium SMS in WooCommerce? This method can also be implemented via GoPay Inline.
M-payments
Similar to Premium SMS, M-payments work by having the customer enter their phone number at checkout and receive a verification code to confirm the payment.
Again, the amount is billed through the mobile operator, which means delayed payouts and payment limits. For smaller transactions, however, it is a very fast and convenient method.
Want to offer M-payments in your WooCommerce store? You can do so via GoPay Inline.
Deferred payments
Deferred payments allow customers to pay after receiving and trying the product (usually within 14–30 days) through third-party services such as Twisto, PlatímPak, or SkipPay. If they return the product, they do not need to wait for a refund.
This method can increase conversions, average order value, and purchase frequency, while also reducing cash-on-delivery shipments. The e-shop receives payment from the provider shortly after order completion.
In WooCommerce, deferred payments can be offered via gateways such as Comgate, ThePay 2.0, or ČSOB.
Installments and split payments
Installment or split payments are especially effective when selling higher-priced products. Like deferred payments, they are provided by third-party services in cooperation with payment gateways.
When choosing installment payments, the customer is redirected to the provider’s website to complete an online consumer credit application, which is assessed immediately. Once approved, the first payment is made and the full amount is transferred to the e-shop right away.
For WooCommerce, installment payments are available via Comgate, ThePay 2.0, or ČSOB.
Meal voucher and benefit card payments
Another way to reach new customers is by accepting meal voucher or benefit cards. Of course, their use depends on your product range and the provider’s terms.
For WooCommerce, for example, the Edenred payment gateway allows customers to pay with Edenred meal and benefit cards similarly to standard payment cards. As with other gateways, you must first sign a contract with the provider.
Try less common payment methods in your e-shop
The alternative payment methods discussed today can help you differentiate and promote your e-shop while also increasing completed orders, their value, and purchase frequency. However, new methods should always be implemented thoughtfully and their impact carefully analyzed.
The advantage of these methods is their easy implementation via payment gateways, which are already a standard part of most e-shops. So why not take advantage of that and offer your customers something new?
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