5 Easy Ways to Accept Payments on Your E-commerce Website in 2023

As you know, accepting payments is one of the most integral aspects of your eCommerce business. In 2023 more payment options are available than ever, and choosing the right ones can make or break your success. With so many choices, deciding which payment methods to offer your customers can be overwhelming. That’s why we’ve compiled a list of 5 easy ways to accept payments on your eCommerce website in 2023.

From traditional credit and debit card payments to the latest mobile payment option and buy now, pay later programs, this article will provide the information you need to make the best decision for your business. After reading this article, you’ll have a clear understanding of the pros and cons of each payment method, as well as the knowledge to choose the right options for your eCommerce business.

So without further delay, let’s dive right in!

Credit and Debit Card Payment Option

Accepting credit and debit card payments is one of the most common and traditional ways to accept payments on your eCommerce website. A credit or debit card payment transaction occurs when a customer enters their card details on the checkout page of your eCommerce website. The card data is then securely transmitted to the payment processor, which verifies the card information and the available funds. If the payment processor approves the transaction, your (merchant’s) account gets credited immediately.

Popular payment processors such as PayPal, Stripe, and Square are widely used to accept credit and debit card payments. Paypal is an all-in-one solution offering payment processing and a payment gateway. It’s easy to set up, and it offers a secure way to accept credit and debit card payments. Square is another popular payment processor offering easy integration and seamless checkout. 

So, if you run a WordPress eCommerce website, then you can easily integrate credit card payment options using the square credit card WordPress plugin, which lets you create custom forms for recurring donations, subscriptions, and much more.

Pros and Cons of Credit and Debit Card Payment 

Here are some pros and cons of credit and debit card payment option:


  • Widely accepted by customers, making checkout convenient and easy.
  • Quick and efficient processing, with funds typically deposited into the merchant’s account within a few days.
  • You can protect yourself from fraud and chargebacks through payment processors.
  • It can help increase customer trust and confidence in the eCommerce business.
  • It offers opportunities for earning cashback rewards or loyalty points for customers.


  • Transaction fees can be high, cutting into the profit margins of the eCommerce business.
  • Potential for fraud and chargebacks can be costly and time-consuming to manage.
  • Some customers may be hesitant to share sensitive financial information online.
  • In some cases, payment processors may hold funds or limit accounts based on risk factors.
  • The process of disputing chargebacks can take a long time and may only sometimes result in a favorable outcome for the merchant.

E-Wallets – Rapidly Growing Online Payment Option

As the number of smartphone users is growing exponentially, E-wallets are becoming an increasingly popular online payment option. With e-wallets, customers can make payments using their smartphones. Essentially, an e-wallet lets you link your bank account or credit card to a digital wallet, which you can use online or in-store for online purchases. Popular e-wallets such as Apple Pay and Google Pay are widely used, and you can easily integrate them into your eCommerce website.

Now, let’s take a look at the demographics of mobile payments, as it can help you determine which demographics are suitable for mobile payments.

  • According to a recent survey conducted by GWI, 63% of female users aged 16 to 24 depend on mobile commerce, a slightly higher percentage than 55.8% of male users within the same age group.
  • As the age range increases from 25 to 34, 8% of female users engage in mobile commerce, while the percentage drops to 58.1% for male users.
  •  The percentage of 35 to 44 years old of female users relying on mobile e-commerce is 40.5%, while the figure stands at 55.4% for males.
  • Female users aged 45 to 54 constitute 51% of mobile commerce, a higher percentage than the 46.9% of males in the same age range.
  • Lastly, 38% of female users aged 55 to 64 use mobile e-commerce, a higher figure than the 35.8% of male users in the same age bracket.

Pros and Cons of E-Wallet Payments

The pros and cons of e-wallet payments are as follows:


  • It is very convenient as it enables users to pay without carrying physical cash, cards, or cheques.
  • E-Wallets reduce the risk of fraud significantly and assure data security.
  • It is easy to track e-wallet payments, which allows users to keep a better tab on their spending.
  • With lower transaction fees, cashback, and other discounts, users prefer E-Wallets more than any other payment option.


  • E-wallet stores users’ personal and financial data, so privacy concerns may make some users avoid it.
  • Any online payment option, especially E-wallets, is susceptible to hacking attacks.
  • E-wallet payments are currently limited to certain types of transactions and are unavailable in all locations, particularly rural areas.
  • Hidden charges can apply to digital payments, which is a deal breaker for most of users.

Offer a Secure Online Payment Gateway

Offering a payment gateway is a fast and easy way to accept payments on your website, as it allows regular customers to save their payment information for future purchases.

Some popular online payment gateways such as Authorize.net, PayPal Payments Pro, and Square offer a secure and reliable way to accept payments for eCommerce websites.

In addition to providing a payment form, processing the payment securely, and storing the customer account information securely, using payment gateways, you can easily customize the payment form to match your brand.

If you run a service-based business, offering a payment gateway can make it easy for your customers to make payments on your website, as you can accept credit cards, debit cards, or e-cheques online.

In short, online payment gateways are among the best payment options for e-commerce businesses due to their popularity.

Pros and Cons of Using a Payment Gateway

Similar to the above, both payment options payment gateways have their own pros and cons:


  • It securely processes transactions and protects sensitive customer information.
  • You can provide a streamlined checkout experience for customers with automatic payment processing and confirmation.
  • With a single payment gateway, merchants can accept many payment methods, including credit and debit cards, e-wallets, and alternative methods.
  • A payment gateway offers tools and features for managing transactions, such as automatic recurring payments and fraud detection.


  • Most payment gateway providers typically charge fees for transaction processing, cutting into the profit margins of the eCommerce business.
  • Some payment gateways may have high setup fees or require long-term contracts, which can be a financial burden if you are a small or new eCommerce business.
  • Downtime or system errors with the payment gateway provider can result in lost sales and damaged customer relationships.
  • Different payment gateway providers have their own requirements and restrictions for accepting certain payment types, which can limit the options available for your eCommerce business.

Cryptocurrency Payments

Cryptocurrency payments are a relatively new payment option that empowers customers to purchase using digital currencies such as Bitcoin, Ethereum, Bitcoin Cash, Litecoin, etc. To accept cryptocurrency payments, you need to set up a digital wallet to accept and process these transactions.

There are several digital wallets that you can use to accept cryptocurrency payments for your eCommerce website, such as Coinbase Commerce, BitPay, CoinPayments, GoCoin, and SpectroCoin.

Pros and Cons of Accepting Cryptocurrency Payments

Before accepting cryptocurrency payments on your website, take into account the following pros and cons:


  • It can attract new customers who prefer to use digital currencies for online transactions.
  • Lower transaction fees can help you reduce payment processing costs.
  • Cryptocurrency payments are not bound by geographical borders, making it easier to accept payments from customers worldwide without the need for currency conversion or cross-border fees.
  • Blockchain technology prevents fraud and chargebacks by leveraging a decentralized and secure payment network.


  • Cryptocurrencies’ extreme price volatility can make it difficult to set prices or set a realistic budget for revenue.
  • The adoption rate of digital currencies is still low compared to traditional payment methods, so there may be only a small number of customers who are willing to pay in digital currencies.
  • The regulatory landscape for cryptocurrency is still evolving, so eCommerce businesses could encounter difficulties complying with taxes and laws when accepting cryptocurrency payments.
  • Accepting and making cryptocurrency payments requires a certain level of technical expertise and infrastructure, which can be a barrier to entry for most users.

Buy Now, Pay Later (BNPL) Payment Option

If you have customers who don’t have a credit card or simply prefer not to use one, you may want to consider offering a buy now, pay later (BNPL) option on your eCommerce website. It is a type of short-term financing that allows consumers to make a purchase and defer payment until later.

In recent years, BNPL has become increasingly popular due to the convenience and flexibility it offers to shoppers. Some popular BNPL options include Shop Pay Installments from Shopify, Afterpay, Affirm, and Sezzle.

Indeed, by offering BNPL, you can attract a large audience of customers who want to budget their spending or spread out the price for a large purchase.

Pros and Cons of Offering Buy Now, Pay Later Payment Option

Following are some noteworthy pros and cons of the Buy Now, Pay Later payment option:


  • By offering BNPL options, you can attract more customers to make a purchase, especially those who can’t afford to pay the full price upfront.
  • You can also increase the chances of repeat business from satisfied customers who appreciate the flexibility of your payment options.
  • Most BNPL providers often have their own fraud prevention measures, reducing the risk of fraudulent payments compared to traditional credit card payments.
  • You can easily increase the average order value as customers are likely to purchase more expensive items when they can pay for them over time.


  • Some BNPL providers may charge additional fees or interest rates to the customer or the merchant, which can lead to higher prices.
  • If a customer fails to pay the outstanding balance, you are responsible for chasing the payment. Otherwise, you will lose revenue.
  • Processing BNPL payments can add to the administrative workload of managing an e-commerce store.
  • There may be limitations on the amount you can finance with BNPL options, which could limit the number of possible sales.

The Bottom Line

In the evolving landscape of e-commerce, your options for accepting payment on your e-Commerce website are increasing daily. So, it’s essential to understand the pros and cons and the cost of having or not having a specific payment method.

However, by offering various payment options, you can improve the checkout experience for your customers and potentially increase conversions. 

Ultimately, before choosing any of the payment options above, your main goal should be to simplify the payment process for your customers, resulting in faster and more reliable payments.