Customers Shopping Online
Customers shopping online expect convenience and a variety of payment options. Credit cards
are by far the most popular means for making an online payment, with one survey indicating
that 70 percent of online consumers used this payment method. [46] Any small business that does
not have its website set up to accept credit cards will lose 60–80 percent of its potential orders.
Further, offering a credit card option will increase the number of orders, and those orders will
be substantially larger because credit cards enable impulse buying, reassure customers of your
legitimacy, and simplify your billing. [47]
Consistent with credit cards being the online payment method of choice, it has been reported
that 99 percent of online businesses offer a general purpose credit card, which include Visa,
MasterCard, American Express, and Discover. [48] However, debit cards are growing in
popularity ahead of other payment alternatives.
Table 4.4 Payment Options Consumers Used to Make Online Purchases in 2009
Payment Option % Used
Major credit card usable anywhere 70
Major debit card usable anywhere 55
Online payment service, such as PayPal or Google Checkout 51
Gift card good only at a specific merchant 41
Store-branded credit card good only at the merchant that issued the card 27
Prepaid card or payroll card usable anywhere 17
Online credit service such as BillMeLater 17
