Checkout options: What your business should use based on popularity, cost and implementation
There’s never been more ways for businesses to take people’s money, so let’s explore the various checkout options now available to small businesses.
In short, things are getting crowded. E-commerce and the digitisation of small businesses have transformed how consumers pay (or seemingly pay) for things.
Digital wallets, payment gateways, buy now, pay later (BNPL), traditional cards, even crypto options are amassing faster than a credit card bill at a long lunch in the ’80s.
In fact, according to the Australian Bureau of Statistics, BNPL transactions were equivalent to about 1.7% of Australian card purchases (about $11.5 billion in payments) in the year to June 2021.