A German web start-up called PayLobby offers ecommerce sellers with a payments provider comparison service with the aim of matching merchants with the most appropriate offering.
Based in Munich and launched in 2016, they say that over 1000 businesses have already used the online comparison tool to save money. The company emphasises how important it is to have the right payment methods in your online store: “If you are missing a payment method that your customers wants to pay through, or if the check-out process is too complicated, many customers won’t go through with their order. Online merchants should therefore review and update their payment system for optimization at least once per year.”
You may not have heard of the company. Paylobby says of its service: “Paylobby.com is a freely accessible platform that helps merchants find and select suitable payment methods and providers. Within a short period of time, over 1000 ecommerce businesses have profited from our services.”
“We work closely with our partners from the payment industry. In our portal, you’ll find the right payment providers from among over 450 different options. In just a few business days, you will receive individualized offers from different providers that you’re interested in. If the you like the offer, you can begin integrating it into your shop system immediately.”
It’s not clear whether they are already successfully working with the plethora of multichannel software providers out there as yet, but that seems like an obvious opportunity, and there is no doubt that offering multiple payment methods does encourage conversion and loyalty. Making it easy for customers to pay and making the options clear from the start is a well established bit of ecommerce wisdom. And there is, after all, more to life than PayPal. (Although it is very popular.)
We’d be interested to hear from readers who have successfully utilised PayLobby.