Too Many Payment Options Causes Lost Sales

A blog post on the Internet Merchants Association website notes, “I have to ask myself — is there such a thing as too many payment options?  When a buyer comes to my site, what are they looking for as far as payment options?  Currently I offer Paypal, Google Checkout, and a merchant account. Would I not be shooting myself in the foot by adding another payment option?”

This blog post was written August 10 … 2008! More than eight years ago there was concern consumers were overwhelmed with payment options and, in the time that’s passed, the number of payment options has grown by leaps and bounds.

But how much is too much? Lars Pedersen, CEO of Creditcall — a Bristol, U.K.-based company that started as a telecommunications service enabling hotel customers to bill telephone calls to their credit or debit card — recently took time to answer questions for Business Solutions about this very subject. Pederson detailed the problems too many payment options is causes as well as took a look at what might be done to solve them.