LONDON--(BUSINESS WIRE)--Allied Wallet, a leading provider of online payment processing offering various payment solutions in 196 countries all over the world, is now compatible with several new alternative payment options in the United Kingdom, allowing them to better serve the largest e-commerce market in Europe.
Allied Wallet is continually innovating to find better ways to connect businesses and their customers. The Fintech company recently made several new alternative payment options compatible with their NextGen Payment Gateway to better serve consumers and merchants and their preferred methods of payment.
Allied Wallet now supports several “pay by bank” applications including Trustly and SOFORT as well as several other payment methods including PayPoint, SEQR, and Paysafecard.
The United Kingdom has a population of about 66 million with about £121 Billion spent in e-commerce annually. The average user spends over £2000 through e-commerce every year. Trends show steady signs of growth at a rate of 14.7%.
92% of the population is on the internet and they have one of the highest smartphone penetration rates in the world with 74%. That being said, mobile commerce is predicted to double in the next few years.
The issue is that 99% of the population is banked; however, only 62% of the population uses credit cards.
Alternative payment options such as Trustly and SOFORT offer the banked population a safe means for shopping online and these applications allow shoppers to select their bank upon checkout and use their banking details to finalize their purchases.
Services like PayPoint, SEQR, and Paysafecard allow users to settle online purchases in stores or even with prepaid vouchers or cards.
Businesses that accept these payment options see higher percentages of sales by offering their customers more opportunities to securely pay for their goods and services.
“The U.K. represents 30% of all European e-commerce across the region and a third of their transactions are not only domestic, but cross border transactions. Allied Wallet is happy to offer its users these payment methods to not only securely shop online but to also be able to send money with their eWallet,” said Allied Wallet CEO, Dr. Andy Khawaja.
While credit card penetration in the region is high, using credit cards online is less popular. Companies like PayPoint are serving the demographic who prefers alternative options. PayPoint has over 10 million people a week using their service to make a purchase online and settle the bill in store. SEQR reports about 5.3 billion transactions per year.
E-commerce shows steady growth globally, but it’s important that regional preferences are served to best suit the varying markets.
Allied Wallet proudly announced their new compatibility with these alternative payment options so that they may better suit the evolving e-commerce and m-commerce payment spaces.
About Allied Wallet:
Allied Wallet continues to revolutionize the e-commerce industry by introducing new and innovative payment processing solutions for online merchants, enabling them to send and receive global payments. With PCI compliant merchant services for nearly any business size, Allied Wallet provides a state-of-the-art payment gateway to optimize online transactions. Please visit www.alliedwallet.com/.