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In a store, perhaps you use cash, credit cards or mobile payment options like Apple Pay. When online, you may want to make a direct bank transfer for local payments or go with PayPal for global transactions. For services like Uber, you probably have an online wallet linked to your credit card.
And under each method (say, credit cards), you have a host of options (Visa, Mastercard and American Express, to name a few). In fact, there are more than 200 alternative payment methods worldwide. So how many payment options should you give your customers when they come to your checkout page?
So fewer payment methods lead to higher bounce rates. But give buyers a ton of options and they’ll drop off just the same. As always, there’s a UX cost associated with having too many choices.