Top online payment methods for ecommerce retailers in 2024

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Consumer preferences never stand still. Heck, it’s one of the aspects of ecommerce that makes the space so exhilarating. Staying on top of new developments and adapting to shifting demands is a matter of life and death for online retailers. 

One critical aspect of this adaptation is choosing the right online payment methods. Retailers need to navigate a landscape filled with a myriad of payment options — each with their own benefits — to find the best choices for your customers (and your bottom line!)

This article guides you through the top online payment methods available in 2024, helping you make informed decisions that will enhance your business operations and customer satisfaction.

Why is it important to choose the right payment method when selling online?

Selecting the appropriate payment methods is crucial for a number of reasons. The following are among the most important:  

Impact on customer experience and conversion rates

The payment process is a critical touchpoint in the customer journey. A seamless, hassle-free payment experience can significantly boost customer satisfaction and increase conversion rates. Conversely, a complicated or unreliable payment system can lead to cart abandonment and lost sales. By offering multiple, convenient payment options, you can cater to different customer preferences and enhance the overall shopping experience.

Security and fraud prevention

In the digital age, security is paramount. Customers need to trust that their payment information is safe when making purchases online. Robust security measures, such as encryption and tokenization, along with compliance with industry standards like PCI DSS (Payment Card Industry Data Security Standard), are essential for protecting sensitive data and preventing fraud. Choosing a payment method with strong security features can safeguard your business and build customer trust.

Global reach and accessibility

Ecommerce allows businesses to reach customers worldwide. However, this global reach requires payment methods that support international transactions and multiple currencies. Offering payment options that are widely accepted across different regions can expand your market reach and attract international customers. Additionally, considering local payment preferences can enhance accessibility and convenience for your global audience.

Cost and transaction fees

Transaction fees can significantly impact your bottom line, especially for small and medium-sized businesses. It’s important to evaluate the cost structure of different payment methods, including setup fees, transaction fees and any additional charges for international transactions. Balancing cost with the benefits provided by the payment method will help you choose an option that maximizes profitability while meeting your business needs.

How to choose online payment methods

When choosing online payment methods for your ecommerce business, several key factors should be weighed to ensure they align with your business goals and customer expectations. These include: 

User-friendliness and ease of integration

A payment method should be easy to integrate into your existing ecommerce platform and user-friendly for both you and your customers. Look for solutions that offer seamless integration with your website or app, intuitive interfaces and straightforward setup processes. The easier it is for customers to complete their transactions, the more likely they are to return.

Security features and compliance

Prioritize payment methods that offer advanced security features, such as two-factor authentication, fraud detection and encryption. Compliance with industry standards like PCI DSS is non-negotiable, as it ensures that the payment method adheres to rigorous security protocols. Implementing secure payment methods protects your business from data breaches and enhances customer confidence.

Support for multiple currencies and international transactions

To cater to a global audience, choose payment methods that support multiple currencies and facilitate international transactions. This capability not only broadens your customer base but also simplifies the purchasing process for international buyers, reducing barriers to sale and increasing your global competitiveness. 

According to Josh Guthrie, UK Country Manager for MOLLIE, “Different countries are so different in terms of the payment methods that have a high share of checkout… For example, if a retailer had initially expanded into one country offering only cards that would be relevant there, bringing in European payment methods really rapidly takes share of checkout.”

Speed of transactions and fund settlement

The speed at which transactions are processed and funds are settled can impact your cash flow and customer satisfaction. Payment methods that offer quick transaction processing and prompt fund settlement can improve your operational efficiency and provide a better customer experience. Delays in payment processing can lead to customer frustration and potential loss of sales.

Customer support and service reliability

Reliable customer support is essential for resolving any issues that may arise with payment processing. Choose payment methods that offer robust customer support, including multiple channels of communication and quick response times. Reliable service ensures that any problems can be addressed promptly, minimizing disruption to your business and maintaining customer trust.

By carefully evaluating these factors, you can select the online payment methods that best suit your ecommerce business, ensuring a smooth, secure and efficient payment process for your customers.

In 2024, several online payment methods have emerged as the top choices for ecommerce retailers, each offering unique features and benefits that cater to different business needs. Popular payment methods like PayPal, Stripe and Square are recognized for their reliability, security and ease of integration. These platforms not only enhance the customer experience but also streamline business operations, making them essential tools for any ecommerce retailer. 

According to Guthrie, “[One trend] is around mobile wallets and the growth there… We’ve seen a really rapid share of checkout taken by mobile wallets. So we’ve seen retailers go from zero — and not offering it before — to 15 percent share of checkout almost immediately and upwards.” 

Below, we delve into the details of these top payment methods, examining their popularity, features, pricing and integration options.


  • Overview and popularity: PayPal is one of the most widely used online payment platforms globally, known for its convenience and widespread acceptance. Established in 1998, PayPal is known for providing a secure and user-friendly payment solution and is accepted by millions of merchants worldwide.
  • Key features and benefits: PayPal offers a range of features, including the ability to send and receive payments in multiple currencies, fraud protection and buyer/seller protection policies. It supports one-touch payments and provides tools for invoicing, recurring billing and easy integration with ecommerce platforms.
  • Pricing and fees: PayPal’s fee structure includes a standard transaction fee of 2.9% plus a fixed fee based on the currency of the transaction. There are additional fees for international transactions and currency conversions.
  • Integration options: Integrating PayPal with an ecommerce store is straightforward, with plugins available for major platforms like Shopify, WooCommerce and Magento. PayPal also offers APIs for custom integrations.


  • Overview and popularity: Stripe is a leading payment processing platform known for its developer-friendly API and robust feature set. Since its launch in 2010, Stripe has gained popularity among tech-savvy businesses and startups for its flexibility and scalability. 
  • Key features and benefits: Stripe offers a comprehensive suite of features, including support for multiple payment methods (credit/debit cards, ACH transfers, digital wallets), advanced fraud detection and recurring billing. Stripe has a customizable API and it integrates neatly with third-party tools.
  • Pricing and fees: Stripe charges a standard fee of 2.9% plus 30 cents per successful card charge, with additional fees for international transactions and currency conversions.
  • Integration options: Stripe’s API is designed for easy integration with a wide range of ecommerce platforms and custom websites. It offers extensive documentation and SDKs for various programming languages, enabling developers to seamlessly integrate Stripe into their applications. Stripe also integrates with platforms like Woocommerce, Shopify and Magneto. 


  • Overview and popularity: Square, founded in 2009, is well-known for its point-of-sale (POS) systems and has expanded its offerings to include robust online payment solutions. Square is particularly popular among small to medium-sized businesses due to its ease of use and comprehensive ecosystem of business tools.
  • Key features and benefits: Square’s payment platform includes features such as invoicing, recurring payments and support for multiple payment methods, including credit/debit cards and digital wallets. Square also offers robust reporting and analytics tools.
  • Pricing and fees: Square charges a standard fee of 2.9% plus 30 cents per transaction for online payments. There are no monthly fees and the pricing is transparent and straightforward.
  • Integration options: Square provides seamless integration with its own suite of business tools, as well as with major ecommerce platforms like WooCommerce, BigCommerce and Wix. 

Apple Pay

  • Overview and popularity: Apple Pay, launched in 2014, has quickly become a popular mobile payment solution due to its integration with Apple’s extensive ecosystem of devices. It allows users to make payments using their iPhones, iPads, Apple Watches and Macs, making it a convenient option for Apple users. 
  • Key features and benefits: Apple Pay offers a seamless and secure payment experience with features like Touch ID, Face ID and tokenization, which replace card details with a unique device account number. It supports both in-app and web-based payments, as well as in-store transactions via NFC. 
  • Pricing and fees: Apple Pay does not charge users or merchants additional fees for transactions. Standard credit or debit card processing fees apply, which are handled by the merchant’s payment processor. 
  • Integration options: Integrating Apple Pay into an ecommerce platform is straightforward, especially for those already using Apple products and services. Apple provides detailed documentation and APIs for integration. Popular ecommerce platforms like Shopify, WooCommerce and BigCommerce offer plugins and modules to facilitate Apple Pay integration.

Google Pay

  • Overview and popularity: Google Pay, formerly known as Android Pay, is a widely-used digital wallet platform developed by Google. It is popular due to its integration with Android devices and Google’s suite of services. 
  • Key features and benefits: Google Pay supports in-app, in-store and online payments, offering a versatile payment solution. It features strong security measures, including tokenization and biometric authentication. Users can store multiple payment methods, loyalty cards and gift cards in their Google Pay account.
  • Pricing and fees: Like Apple Pay, Google Pay does not charge additional fees for transactions. Standard card processing fees apply and are managed by the merchant’s payment processor.
  • Integration options: Google Pay provides easy integration with ecommerce platforms through APIs and plugins. Platforms like Shopify, WooCommerce and Magento support Google Pay integration, allowing merchants to offer a seamless payment experience to their customers.

Amazon Pay

  • Overview and popularity: Amazon Pay, introduced by Amazon, leverages the company’s extensive user base and trusted brand to offer a convenient payment solution. It allows customers to use their Amazon account to make purchases on third-party websites.
  • Key features and benefits: Amazon Pay offers a streamlined checkout process by allowing customers to use their Amazon credentials and stored payment methods. It provides robust fraud protection, leveraging Amazon’s advanced security infrastructure. Amazon Pay also supports voice-activated payments through Alexa, adding a layer of convenience for users.
  • Pricing and fees: Amazon Pay’s fee structure includes a transaction fee of 2.9% plus 30 cents for domestic transactions. There are additional fees for cross-border transactions.
  • Integration options: Integrating Amazon Pay with an ecommerce platform is relatively simple, with plugins available for major platforms like Shopify, WooCommerce and Magento.

Buy Now, Pay Later (BNPL) Services (e.g., Klarna, Afterpay)

  • Overview and popularity: BNPL services like Klarna and Afterpay have surged in popularity due to their flexible payment options, allowing customers to split purchases into interest-free installments. 
  • Key features and benefits: BNPL services offer installment payment options, often without interest, enhancing affordability for customers. They provide a quick and easy approval process, integrated directly into the checkout flow. For retailers, BNPL can increase average order values and reduce cart abandonment rates.
  • Pricing and fees: BNPL providers charge merchants a fee for each transaction, typically ranging from 2% to 6%, depending on the provider and the agreement. There are no additional costs for customers if they make payments on time.
  • Integration options: BNPL services offer easy integration with popular ecommerce platforms through plugins and APIs. Klarna, Afterpay and similar providers have established partnerships with platforms like Shopify, WooCommerce and BigCommerce.


  • Overview and popularity: Cryptocurrencies like Bitcoin and Ethereum have gained traction as alternative payment methods, driven by their decentralized nature and potential for lower transaction costs. While adoption varies, they are becoming more accepted by forward-thinking ecommerce retailers.
  • Key features and benefits: Cryptocurrencies offer secure, transparent and irreversible transactions, reducing the risk of fraud and chargebacks. They enable cross-border transactions without the need for currency conversions, which can be beneficial for international sales.
  • Pricing and fees: Transaction fees for cryptocurrencies can vary based on network congestion and the specific currency used. Generally, these fees are lower than traditional payment methods, especially for cross-border transactions.
  • Integration options: Integrating cryptocurrency payments requires partnering with a payment processor that supports digital currencies, such as BitPay or Coinbase Commerce. These processors offer APIs and plugins for major ecommerce platforms.

How to implement new online payment methods

Successfully implementing new online payment methods involves careful planning and execution. Here are the key steps to ensure a smooth integration:

Integration best practices

  • Test thoroughly: Before fully implementing a new payment method, conduct thorough testing to identify and resolve any issues. Use sandbox environments provided by payment processors for testing.
  • Focus on the user experience: Ensure the payment process is seamless and intuitive for customers. Minimize the number of steps required to complete a transaction.
  • Guarantee compatibility: Ensure the new payment method integrates smoothly with your existing systems, including your ecommerce platform, CRM and accounting software.

Security and compliance

  • Implement strong security measures: Use encryption, tokenization and secure authentication methods to protect customer data.
  • Audit regularly: Conduct regular security audits and vulnerability assessments to identify and mitigate potential risks.
  • Ensure compliance: Stay updated with industry regulations and standards. Ensure your payment processing methods comply with PCI DSS and other relevant regulations.

Monitoring and optimizing payment performance

  • Measure performance: Monitor key performance indicators (KPIs) such as transaction success rates, average transaction times and customer satisfaction.
  • Listen to customers: Collect and analyze customer feedback to identify pain points and areas for improvement.
  • Improve continuously: Regularly review and optimize your payment processes based on performance data and customer insights. Stay informed about new trends and technologies in payment processing.

Implement the top online payment methods with Linnworks 

Choosing and implementing the right online payment methods is crucial for the success of your ecommerce business. Wise choices here will enhance the customer experience, increase conversion rates and streamline your operations. 

It’s important to ensure that your ecommerce infrastructure supports your choices here. Linnworks has direct integrations with a wide range of payment providers to ensure that your ecommerce operations are seamless — from cart to delivery — end to end. 

If you’d like to discover how Linnworks can unlock greater growth for your scaling ecommerce business, book a free demo today. 

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