TrialPay: Shoppers want payment alternatives

Cash, check or charge isn't enough for today's shopper. According to a recent survey from TrialPay, about three-quarters (75%) of online shoppers have used an alternative payment method when shopping online.

by Kristina Knight

Just over half (54%) have actually looked for alternative payment options when making an online purchase.

Alternative payment methods like Google Checkout, PayPal and TrialPay's own system are the most often used.

“There are many ways to increase successfully completed checkouts, but perhaps the most important one is to try to augment the consumer’s willingness to pay,” said Alex Rampell, co-founder and CEO of TrialPay. “Adding alternative payments is a good place to start because, as the survey results demonstrate, increasing payment options and conversion tools can rope in more potential shoppers. A relevant alternative payment option can slowly but surely chip away at a consumer’s reluctance to pay and will make a lasting effect on a retailer’s business.”

According to the survey, about 60% of consumers have opted to download trial/free versions of software but only about 10% will purchase the full-scale version. This means that marketers could be missing out on huge revenue potential because shoppers also said that they would upgrade to that full-scale version if given another offer.

Just over 10% said they would definitely download the full-scale version with the purchase of a product from another merchant; more than half said the subsequent merchant would have to have a relevant product available.

Conversely, about one-quarter of those surveyed said they wouldn't purchase the full-scale version, even with another product offer if they are satisfied with the trial offer.