Diesen Payment Fehler macht fast jeder Shopify Shop

Which payment methods actually generate more revenue and increase conversion weight? That sounds complicated, so I've brought along one of the best Shopify experts from Germany, the lovely Calvin, and he'll now explain to you step by step how to optimize everything. So, Calvin, tell us something about [music], the Shopify Pinance, and different payment methods. What should you use? Thank you for the intro, Johannes. Today we will be discussing specifically the topic of payment methods. What payment methods should you have? How do you understand how your payment methods are used, what can you optimize there, and what do you absolutely need to pay attention to? The first thing we want to look at, if you already have a Shopify store , is how the payment methods are currently being used? Here we see a report, which we can find under Analytics. Then we go to reports, then search for Payment and see Payments by Gateway Summary. Here we receive a specific report on which payment methods were used and how frequently. For example, PayPal is in first place here. That means we generated almost 6 million via PayPal, almost three and a half million via Shopify Payments, and here's a detailed breakdown of that. What exactly do you see here ? How are they used? Where do you need to do a double down? And where might problems arise? And what should you focus on, and how? Let's take a closer look at the available payment methods and what you need to pay attention to. The first and perhaps biggest topic is credit cards. You actually have two main options when it comes to credit cards. Either you use Shopify Payments or you use a third-party provider. What can one say? Shopify Payments works with Stripe and is usually more expensive than Molly. You simply have to decide whether you want to use Shopify Payments or Molly. My recommendation is always to pay a little more in Shopify. I'm deliberately reducing my margin a little bit there. Why? Because in my opinion, the usability of Shopify Payments is better and, above all, more familiar to the customer . Here's an example of what it looks like with Shopify Payments . I can enter the card details directly at checkout and see everything right there. In Molly's example, we see that when using credit or bidding cards, information appears stating that after clicking " Buy," i.e., after confirmation , I have to enter my credit card details on an external, separate page, which therefore looks different from the Shopify checkout. It's simply not as trustworthy and, above all, not as well-known as it is in the Shopify ecosystem, and for that reason alone, the experience with Shopify Payments is better for me. It is also important to mention that with third-party payment methods such as Molly, you cannot perform post-purchase upsells with other providers either . This means that if your customer orders by credit card, they can only purchase the item if they paid with Shopify Payments. Therefore, my specific recommendation is to use Shopify Payments , even if it might be a bit more expensive . Just to reiterate: If you are a large Shopify Plus store, feel free to write to me, then we can go to Shopify together and renegotiate, giving you the option to get something extra. The second huge part of payments is express checkouts. For example, there's ShopPay, Apple Pay, or Google Pay. All of these payment methods are highly relevant, but they also differ depending on the target group. Shopay is gradually seeing an increasing influx of customers because Shopify is also making it more visible . The shop app works very well on mobile devices. Plus, it's simply a very good integrated system where you can see your order directly in your shop account. The same applies to Apple Pay and Google Pay, which are native payment methods. You should also take a closer look at how frequently each payment method is used, as I showed you above. This way you can see very specifically what you should perhaps ignore and what you should prioritize. It is important, however, that you activate and use these payment methods effectively. Very important, and still not used by many, is Clana. Kaner is extremely important to many people, especially in the clothing sector. Bey No Pay Later is a super popular payment method. Although it is relatively expensive for us as merchandise, it is all the more highly regarded by customers. That's why you should definitely use Clan. As a tip, you also have the option of installing the Clana Merchandise App in your store, and then you'll have widgets from Clana. For example: "Hey, you can buy this product with instant bank transfer or with Plan by now payer, you can pay in 30 or 60 days ." You can then communicate all of this transparently to your customers, for example, on the product page. A super important payment method, absolutely essential, especially for the fashion industry. The last major topic is PayPal. PayPal is also a very important payment method, especially in Germany. It is very well-known and accounts for 50 to 75% of payment methods in many online shops . Why is this so well known? Because PayPal offers buyer protection, which gives your customers a certain sense of security. This means that you can also place the PayPal callout very effectively on the product page or in the shopping cart and definitely prioritize it in the checkout, in express checkouts as well as in the payment methods, indicating that you have PayPal and offer PayPal to your customers . This is the payment stack you should have. You definitely shouldn't do without PayPal or Kaner. You should also take a close look at the topic of Shopify and alternative payment methods and payment providers such as Molly. Once you understand and implement this, you can be sure that you have a state-of-the- art payment method setup for your Shopify store. And with that, I return to Johannes. PayPal and Kaner are mandatory in Germany. It's absolutely necessary, but PayPal is even better because you can sell something extra to PayPal customers with PPU, and we at Nox make several euros higher AOV, meaning we increase our average order value by over 10% because we sell something extra to PayPal customers. And if you want to know more, check out the PPU app. We also recorded a detailed podcast on this topic and released Payment Theor to help put payment methods in the correct order at checkout . So many things to optimize your checkout process so that you actually earn more money. And otherwise, it's great that you tuned in. If you're interested in more Shopify content, then feel free to check out Kin's channel now and we'll see you in the next video.