It’s no secret that international customers add a whole new level of complexity to your business operations. From language barriers to different laws and regulations, you have to be prepared for anything. One of the most challenging elements when working with international customers is payment processing.
Thankfully, there are many payment solutions that are specifically designed to make things easier for cross-border transactions. In this article, we’ll discuss the best payment methods for international customers and how they can help boost your global sales successfully.
From localized payment services to virtual card methods, you’ll have all the info you need to build an international customer base with ease. Without any further ado? Let’s dive in and explore the best payment methods for international customers!
Overview of Payment Options for International Customers
Are you trying to find the best payment method for your international customers? The options available are vast, from credit and debit cards to mobile payments and digital wallets. Choosing the right payment method can be a challenge, but we’ve got you covered.
Here’s an overview of some of the top payment methods for international customers:
- Credit and Debit Cards: Credit and debit cards are one of the most popular payment methods for overseas transactions, as they provide reliable security measures such as fraud protection and encryption.
- Mobile Payments: Mobile payments are quickly becoming a popular option for international customers due to their ease of use and low transaction fees.
- Digital Wallets: Digital wallets such as Apple Pay, PayPal, and Google Pay allow consumers to make secure payments quickly and easily without having to enter any payment information every time.
- Cryptocurrencies: Cryptocurrencies such as Bitcoin, Ethereum, and Litecoin can be used to purchase goods and services online across international borders with minimal transaction fees.
Each of these payment options has its own advantages and drawbacks; however, by utilizing the right ones you can ensure that your international customers are happy with the experience they receive when making payments on your website or app.
Credit and Debit Cards for International Transactions
The second-best payment option for international customers is to use a credit or debit card. While these cards may come with higher fees for transactions, their use is highly convenient, and their acceptance is widespread. Plus, customers get the added security of using something with known consumer protection measures.
Using a credit or debit card for international payments can help you avoid unnecessary currency exchange fees and keep your money safe from being lost or stolen. Credit cards also provide higher purchase limits than other payment methods, making it easier to make bigger purchases without worrying about hitting your limit.
Finally, when it comes to fraud prevention and dispute resolution, credit cards make it easy to get a refund if needed. Chargebacks are much simpler and faster with credit cards rather than any other payment method when dealing with international customers.
Online Wallets and Digital Currencies
When it comes to payment methods for international customers, online wallets and digital currencies can be great options. From PayPal and Venmo to Bitcoin and Ethereum, these digital payment options are as convenient as they are secure.
Advantages of Digital Payment Options
Online wallets and digital currencies offer a lot of advantages for international customers:
- Low transaction costs – With digital payments, you no longer have to worry about large banking fees that come with traditional international payments.
- Quick transfers – Most digital payments are transferred almost immediately, so your customers don’t have to wait days for their funds to arrive.
- Global Reach – Many digital payment methods are accepted in multiple countries and regions, so your customers can pay you from wherever they live or work.
- Security – Digital payment platforms use high levels of encryption plus two-factor authentication measures to keep your data secure.
Digital payment options also give you transparent insights into customer spending patterns, making them even more attractive for businesses that need to track customer behavior and transactions. And unlike cash payments or bank transfers, digital payments provide a record of transactions — making it easier for you to track billing cycles and ensure accounts remain up-to-date.
Bank Transfers and Direct Debits
Getting paid by international customers can be tricky, so it’s important to know the right payment methods to offer them. Bank transfers and direct debits are two of your best options.
With bank transfers and direct debits, you’re typically dealing with larger sums of money, so it’s important that these payments be secure and reliable. Luckily, both bank transfers and direct debits offer plenty of features to ensure they are safe and secure.
Bank Transfers
Bank transfers are one of the most reliable forms of payment for international customers. It is often used by large companies when paying suppliers as well as individuals who want to make international payments. Bank transfers come with lots of added security measures such as encryption technology, fraud detection systems, and more.
Direct Debits
Direct debits are another great option for international customers. They provide a certain degree of certainty when it comes to payments; money is usually taken from an account on a specific date so you don’t have to worry about if or when you’ll be paid. Additionally, because direct debits are performed through banks, it adds a layer of security that other services may not offer.
Both bank transfers and direct debits offer a variety of advantages when it comes to paying international customers, making them two of the best payment methods available today!
Mobile Payments Solutions
You may not have considered it, but mobile payment solutions are a great option for international customers. With mobile payments, customers can make payments from nearly any device, which makes them accessible to a larger reach of potential clients.
So let’s look at the benefits of mobile payments for international customers:
Speed
Mobile payments are quick and easy—with a couple of taps, your customer can make their purchases with ease. Plus, it takes away from having to input personal details every time they have to make a purchase.
Security
Mobile Payments are safe and secure thanks to encryption technology and tools like Touch ID or Face ID authorization on smartphones and tablets. This way, all the customer’s crucial information is right there in one app, leaving no room for fraud or theft.
Variety
Your customers will appreciate being able to use different methods of payment when they shop online with you. Some popular mobile payment systems include Apple Pay, Google Pay, PayPal, and Venmo—and all these services are widely accepted around the world. No matter where your customer lives, they’ll easily be able to find one that works for them.
Various Payment Methods
With all the different payment options available, though, it can be difficult to keep track of what works best for your customers. That’s why we’ve put together this guide on the top 7 payment options for international customers. We’ll walk you through each one so you can decide which is the best fit for your business.
PayPal
You’ve probably heard of PayPal – it’s likely the most popular global payment gateway out there. What sets PayPal apart from other payment gateways is its global availability, easy integration, and features like Buyer Protection and Merchant Money Back Guarantee.
The system offers two distinct services suited for different types of businesses: PayPal Payments Standard (offline payments) and PayPal Payments Pro (online payments). It allows customers to pay with Visa, MasterCard, American Express, Discover, and even debit cards. Plus, it provides multiple languages and currencies across all its services – meaning that you can reach a truly global audience with this payment gateway.
Finally, PayPal also offers excellent security options such as fraud prevention tools and secure encryption technology, making it a great choice for online stores of any size. And best of all: setting up a merchant account with PayPal is free!
Stripe
Stripe is quickly becoming one of the top payment gateways for businesses across the globe. It’s got a lot going for it—it’s low-cost and highly efficient, making it ideal for global eCommerce.
To start, its fees are far lower than other international payment gateways. It charges a flat 2.9% + 30¢ per successful charge, no matter where you are in the world—no hidden fees or currency exchange rates to worry about! Plus, unlike some payment gateways which don’t offer full coverage in all countries, Stripe works in over 25 countries.
Not only is Stripe cost-effective and convenient, but it also offers outstanding customer support for those who need help along the way. Stripe provides plenty of helpful online resources to get you set up and running quickly, plus 24/7 customer support from experienced agents if you ever have a question or problem.
Whether you are just starting out with global eCommerce or already have an established presence worldwide, Stripe is an excellent option for taking payments from customers no matter where they may be located.
Chargebee
When it comes to international payments, Chargebee has you covered with its all-in-one payment methods platform. Not only can you accept more than 100 payment modes in 100+ currencies, but you can also manage refunds and remittances with ease.
Chargebee’s platform is powered by third-party providers such as Stripe and PayPal, which means there are no additional fees associated with using the service. Plus, all your customers’ data is secure and compliant worldwide, so your company can focus on selling without worrying about the technicalities of accepting international payments.
If you wish to understand more about Chargebee, take a look at their website and articles published by them. Chargebee’s all-in-one payment methods platform offers several benefits for businesses operating internationally:
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- Seamless integration: it takes just a few minutes to set up and requires no code changes. Plus, there are no setup fees or long-term contracts.
- Streamlined processes: managers don’t need to worry about currency conversions or banking processing times, as payments can be received in the local currency in up to 10 business days.
- Worldwide acceptance: more than 150 countries are supported on the platform, making it easy for customers to make purchases from anywhere in the world.
- High level security: Chargebee complies with PCI DSS at Level 1. They make sure that all of your financial information is secure. All your payments are done through HTTPS, and an SSL connection securely encrypts all of your data.
Chargebee allows your company to provide a great international customer experience without having to worry about collecting payments from customers across the globe.
Amazon Payments
If you’re an owner of an Amazon store, using Amazon Payments is a no-brainer. As the world’s leading e-commerce platform, Amazon Payments offers a secure and reliable payment gateway that integrates easily with your store.
You get access to a global market of shoppers who can pay with the payment methods they trust and are used to—including debit and credit cards, on-demand bank transfers, local e-wallets, direct debit, and more. Plus, Amazon’s innovative Fraud Protection provides advanced risk analysis to help protect you from fraud.
There are many more benefits that make Amazon Payments one of the best payment gateways in the world:
- Secure shopping with HTTPS encryption
- Choice of currency – payments can be accepted in nearly all major currencies including USD, GBP, and Euro
- Global reach – connects businesses to customers in over 180 countries across the globe
- Simple setup process which takes minutes
- Easy integration with multiple software solutions
- Fast payments – funds are deposited into merchant accounts within 24 hours
Authorize.net
When it comes to keeping your global e-commerce business safe, Authorize.net is the leader. With advanced fraud detection capabilities, extensive card-processing features, and support for over 140 different currencies and payment types worldwide, this payment gateway keeps your transactions secure with industry-leading technology.
Here’s why Authorize.net is the go-to choice for fraud protection:
- Multi-factor authentication: two-factor or three-factor authentication options are available to help protect your data and logins from potential hackers.
- Address Verification Service (AVS): This feature helps protect you from fraudulent transactions by comparing the address given at checkout to the billing address on file with the card issuer.
- Card Code Verification (CCV): This service requires customers to use a CVV2 code from their cards as an added layer of security when making purchases online.
- Security Encryption: Authorize.net uses TLS 1.2 encryption as an additional measure to protect data in transit between you and their system.
So if security is a major concern for your global business, Authorize.net is the ideal solution with its robust fraud prevention features that go above and beyond industry standards.
2Checkout (Changed to Verifone
This payment gateway is a great option for international merchants. It offers secure processing of payments in over 200 countries, and you can accept payments from customers in up to 100 different currencies and 45 different payment modes. Not only that, but you can also set up your account quickly and start selling online in no time.
Plus, it’s incredibly user-friendly and customizable. Here’s what you get when you use 2Checkout:
- A unified checkout experience that supports instant cross-border buying
- Integrations with popular eCommerce platforms like WooCommerce, Magento, and BigCommerce
- Customizable payment options for customers, such as credit card or PayPal payments
- Flexible pricing plans that fit any budget
- Real-time reporting tools to help you manage your business
- High levels of customer support
2Checkout is a great option for merchants worldwide who want a versatile international payment gateway that offers secure processing of payments across multiple currencies and markets. And with its wide range of features and customization options, it’s an ideal choice for most.
Skrill
If you’re running an e-commerce store in Europe, it’s worth considering Skrill. It’s a popular payment gateway used by many of the region’s merchants, plus they offer some really great benefits such as:
- High acceptance rate from customers around the world
- Quick and Easy setup of accounts with simple integration process
- Low fees for online transactions
- 24/7 customer service
- Multi-currency available
- Access to Skrill’s global fraud protection network to help reduce chargebacks and fraudulent activity
- Ability to accept payments from over 100 countries worldwide
Plus, Skrill is compatible with most e-commerce platforms, so it’s easy to get started. And since it offers lots of features and benefits, it’s no surprise that Skrill has become so popular with European businesses.
Conclusion
Ultimately, there is no one-size-fits-all answer when it comes to the best payment methods for international customers. It depends on a range of factors, such as your particular situation, your customer base, and the currencies you accept. Each business will have to research what works best for them, as well as the fees, limits, and other details associated with the payment methods they choose to offer. By finding the right balance of payment methods for your business, you can make it easier for your customers to pay for your products and services, and make your business more successful in the long run.
If you wish to ease the entire process and hassle of integrating payment methods into your eCommerce business, Chargebee is the perfect solution.
