What Happens When the Shops Close?

April 23, 2020 | Expertise

We are being faced with a difficult scenario; our shops are closed and we are being advised, in some cases ordered, not to leave the house, only being allowed to leave to buy essentials. But what about those who can’t leave their homes, the elderly or the immunocompromised? If they leave their homes to go to the supermarket or to take out money, which we have been told to avoid due to it being handled by multiple people, they are putting their lives at risk.

Online shopping and making online payments is a way in which people are able to purchase essentials in a safe environment. However, a lot of people who are now forced to rely on purchasing their shopping online do not necessarily have the right tools to do so. It is up to eMerchants to make sure that they have a variety of alternative payment methods (APMs) available, so those who are unable to go to the shops or the pharmacies can complete their shopping safely from the comfort of their own home. It is also a way in which traditional brick and mortar shops can sell their goods online and have them ready for pick up via a click and collect option.

A recent study conducted in the United States by the Payments Journal reported that 33% of consumers were ordering groceries online for the first time. When asked if they would continue this behavior after the threat of COVID-19, 54% of these first-time online grocery customers said that they would. This goes to show that now is the time to prove to consumers that your products and service is what they want and need; customers are far more likely to be loyal to companies who were able to provide for them in uncertain and difficult times. 

By offering alternative payment methods (APMs) shops, both online and brick and mortar, are giving more customers access to their products. It may come as a surprise for some, but not everyone has access to a debit or a credit card, which have historically been the most popular methods of purchasing products online. ThePaypers predicted in their 2020 Who’s Who in Payments Report that credit card payments would decrease to 18.5% of the market share and debit cards to 8.8%. So if people don’t have credit cards how are they making payments? 

What are APMs?

There are a variety of APMs with each country seemingly having a preferred method. 

First, there are APMs that involve bank transfers. This is when an online purchase is made, and the shopper approves the funds via online banking. As online banking continues to grow, especially with the older generation, this method is likely to become more popular.

Then you have your eWallets like PayPal, where people can deposit funds via credit and debit cards or bank account. People like this method as they do not have to give their banking details or card data to eCommerce sites. 

Another method that is gaining popularity is crypto payments. Whether or not you should consider accepting Bitcoin, Ethereum, Dash or another crypto currency depends on your customer base; it is most popular among the technologically minded. Bitcoin and Co. are anonymous, so the risk of any personal information being compromised is extremely low and chargebacks are impossible. International transactions are a huge strength for Bitcoin; their value is the same everywhere which means exchange rates become a thing of the past.

There are of course many more alternative payment methods and many factors involved in determining which would be most suitable for your eShop. By using a Payment Orchestration Platform like IXOPAY, eMerchants will have access to over 200 plus online payment methods, which can be set up quickly and efficiently via a plugin based integration. This connectivity gives access to more users across various locations. By giving more people access to your product or service you are likely to increase sales. 

Have a look at our adapters page and get in touch to see if the IXOPAY Payment Orchestration Platform is right for your business.


IXOPAY is a payments orchestration platform enabling independent, flexible and global payment processing. As a highly scalable and PCI-DSS certified “fintech enabler”, IXOPAY fulfills the needs of large merchants as well as those of “white label” clients: payment service providers (PSPs), acquirers and independent sales organizations (ISOs). The modern, easily extendable architecture offers smart transaction routing & cascading, state-of-the-art risk & fraud management, fully automated reconciliation and settlements processing, comprehensive reporting as well as plugin-based integration of acquirers, payment service providers and alternative payment methods (APMs).

IXOPAY is part of the IXOLIT Group, founded in Vienna, Austria in 2001. With local entities in Austria and the USA, IXOLIT supports national and international customers across various industry verticals. The owner-led and -financed company has grown from 2 to more than 65 employees and is focused on building innovative solutions for eCommerce.

Please find more information about IXOPAY here: https://www.ixopay.com

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