By Swati Despande, Marketing Strategy at PAYNT
What keeps most business owners awake at night? Attracting new customers and keeping the ones they already have. The goal is simple: get more people to buy, buy more often and keep coming back. But while product quality, competitive pricing, fast delivery, and a generous returns policy are all critical factors, there’s another step that often gets overlooked – how customers actually pay.
Payment is the final touchpoint in the buying journey, and for customers, it needs to be frictionless. Nearly half of all UK payments are now made by card, and contactless methods, including mobile wallets, account for almost 40%. That means a significant share of your potential customers expect seamless, tech-enabled checkouts. The easier it is to pay, the more likely they are to complete a purchase, return to your store and even recommend you to others. This is where multi-channel payment solutions come in.
One size no longer fits all
Consumers are far from uniform in their preferences. Some still prefer traditional methods such as debit or credit cards, bank transfers or even cash on delivery. Others have moved to mobile wallets, digital currency or Buy Now, Pay Later (BNPL) services. Failing to offer a customer’s preferred payment method risks losing the sale altogether.
Geography plays a big role, too. UK shoppers often favour card payments, while in Germany, bank transfers are more common, and Alipay and WeChat Pay dominate in China. If your business sells internationally, offering localised payment methods becomes a commercial necessity that shouldn’t be ignored.
Some shoppers still prefer physical cards. In fact, 63% of Gen Z and 77% of Boomers say they would rather use a physical card than a digital wallet. Others, particularly younger buyers, are moving quickly to mobile wallets and contactless payments, with 34% of Britons now using them monthly.
In short, accepting card payments is no longer enough. Businesses must be prepared to process payments through multiple channels, making it as simple as possible for every customer to spend money their way.
What multi-channel payment solutions really mean
Multi-channel payment solutions bring all payment methods under one roof. That means your customers can choose how they want to pay – online, in-store, or on a mobile device – while you get a single, unified view of all transactions. This provides a great insight for businesses. A consolidated system helps you better understand customer behaviour, manage cash flow more effectively, and spot trends that can inform pricing, promotions and inventory decisions.
At the same time, it boosts security measures, as a robust multi-channel platform will include bank-grade encryption, fraud detection and compliance with the latest regulatory requirements. As a result, it helps build trust and reassures customers that their data is safe.
The payment trends you can’t ignore
Payments are evolving fast. BNPL has exploded in popularity in recent years, with around 40% of 18-24yo in the UK having used BNPL at least once. Globally, the BNPL market is forecast to reach $7.2 billion by 2035. Offering BNPL at checkout can make higher-value purchases more accessible and help convert hesitant shoppers.
Along the same lines, and familiar to many from traditional retail finance, instalment payments are increasingly becoming available in e-commerce. This option allows customers to spread costs over time, increasing affordability and encouraging larger basket sizes. The rise of digital wallets, open banking payments and even cryptocurrency also shows that payment solutions are continuing to innovate. Retail businesses have to keep up; otherwise, they risk frustrating customers or worse, losing them to competitors who offer a smoother experience.
However, having the right payment options is only part of the picture. The entire payment experience should be seamless, distraction-free and designed to get the customer over the finish line. Using heat-mapping tools such as Hotjar can help identify where users drop off in the checkout process, where they hesitate and what might be causing frustration. Acting on these insights can dramatically improve conversion rates.
In addition, reducing the number of steps required to pay, offering one-click checkout and displaying trust signals (like security badges) can all have a measurable impact on sales.
Ultimately, multi-channel payment solutions are about meeting customers where they are and making it as easy as possible for them to buy from you again. They allow businesses to:
- Serve diverse customer preferences across multiple regions.
- Keep pace with changing trends and emerging payment technologies.
- Improve visibility into transactions and customer behaviour.
- Strengthen trust through secure, compliant payment processing.
As competition grows and customer expectations rise, businesses that invest in frictionless, flexible payment systems will be better positioned to win loyalty, grow revenue and stay ahead of the curve.