In order to optimally meet customers’ needs during the ordering process, a diverse yet adequate selection of payment methods in e-commerce is crucial nowadays. According to the latest statistics from the EHI study “Online-Payment 2020”, invoice payment is the frontrunner among the most popular payment methods for German online shoppers in 2020, with a total use of 32.8 percent of all online purchases. Thus, two out of three customers want to hold the ordered product in their own hands before paying the bill. After PayPal, which ranks second among the payment methods with the highest turnover in e-commerce, direct debiting system ranks third with a turnover share of 18.3 percent. These figures once again point up the relevance of the two payment methods – invoice payment and direct debit and require online retailers to take this into account as part of their digital strategy.
As an e-commerce expert, we also incorporate this knowledge into the new development of modules. Together with our long-term partner, Consors Finanz, we’ve developed a new payment interface that provides Magento merchants an even wider selection and, in particular, seamless and simple Magento 2 integration of the two popular payment methods, invoice payment and direct debit. The new module also enables back-end configurations to be implemented quickly and flexibly.
And that's not all: When using Consors Finanz Payment, merchants can offer their customers a payment term of 30 days for both payment methods. Conversely, this means for end users that they can enjoy a higher degree of flexibility. In the case of direct debits in particular, such an option is rather uncommon on the market, which is why the Consors Finanz product can stand out from competitors with this unique selling point.
And when it comes to credit investigations, retailers can also expect advantages: since Consors Finanz assumes the full risk, shop owners can be sure that they will receive their money in any case. Another advantage that speaks in favor of the use of the Consors Finanz payment module is the assured support when it comes to customer communication. This is of particular benefit to small and medium-sized merchants who do not have to process any reminders or complaints from the customer after the customer data has been successfully transmitted. Such concerns are handled entirely by Consors Finanz.
In summary, it can be said that with Consors Finanz Payment, Magento merchants can integrate two of the most popular payment methods in their Magento 2 checkout and at the same time enjoy many other advantages that benefit them through the use of the payment interface and ultimately contribute to the successful operation of the online shop.
Especially now in times of the ongoing COVID-19 pandemic, which has not only changed the shopping behavior of online shoppers, but is also causing shifts in the payment methods combination, it is essential to be able to keep pace with the competition. Current trends should always be closely monitored, analyzed and the feasibility in your own web shop should be thoroughly checked.
Are you interested in the new payment interface? Our experts will be happy to advise you in detail on the topic of Consors Finanz Payment and provide you with the related module documentation. Simply write an email to info@phoenix-media.eu or call 0711/1289500.
