How does integrating e-wallet in e-commerce increase sales? A study.

How does integrating e-wallet in e-commerce increase sales? A study.
Many businesses are unaware that e-wallet is one of the best payment methods for online stores. In fact, missing out something huge that helps customers to pay in the fastest way possible. For people who value time, e-wallet serves their convenience best. E-wallet users, made up of 15 million population do not find it smart to log in and out of a platform frequently. Once they reach the checkout page, all they expect to do is click and pay. In order to get your sales go through the roof, you must fill out the gap. Here’s why.

How does e-wallet work in e-commerce?

The difference that e-wallet would make in an online shopping experience is no doubt. One of our leading merchants have proven that the experience with e-wallet is way smoother with only two steps, shown below.

Study: E-Wallet is the new way to enjoy online shopping

In 2019, MYR13.3 billion ($3.1 billion) e-commerce spendings were made on a mobile device and in-app, putting behind browsers with MYR2.9 billion ($0.7 billion). Their reliance on mobile platforms nowadays is no joke. Your business cannot wait no more. Driven by the data, experts believe that e-wallet will rise as the fastest growing payment method between 2019-2021. A lot of payment methods will soon be overtaken by e-wallets. Seeing top e-commerce today with their own wallets, your business could be on the brink of a wipeout if you are not at least e-wallet ready. As much as it has changed the in-store payment landscape, e-wallet carries the same ability to offer a better experience to customers online. Easy-to-use has always been the winning factor for customers to shop regularly.

Nielsen (2019)

How to accept e-wallet in e-commerce?

Instead of direct integration, the best advantage of choosing Razer Merchant Services is that all e-wallets are interconnected with a single, hassle-free integration. Users of the top e-wallets in Malaysia can then pay seamlessly through a unified e-wallet payment gateway like ours. It will also ease business like yours to tap on bank and non-bank e-wallet users at once. Not only e-wallet. Online banking, card payment, cash at 7-Eleven and other payment methods that we offer could also help your online sales to scale up. Through our efficient integration, merchants like Google Play, Lazada, Shopee, Decathlon, Hermo, PTPTN and more have also widely reached e-wallet users.

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With increasing e-wallet adoption in Malaysia, we are enthused to help you grow. Feel free to contact us if you have further inquiry and let us connect you to the best online e-wallets such as Razer Pay, Touch n Go, GrabPay, Boost, Maybank and more!
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