Broadly speaking it's because it removes a question that is a potential cause of hesitation at the point in the checkout process that always has the highest abandonment.
People usually like to confirm quickly (and without having to ask) that their preferred payment method is accepted rather than take the time to enter their info and find it's not accepted.
We added a couple of other bits to our checkout process on Cutting Edge Knives ages ago that helped reassure users - confirmation of free UK shipping and also our money back guarantee. This helped nudge conversions up too.
Broadly speaking it's because it removes a question that is a potential cause of hesitation at the point in the checkout process that always has the highest abandonment.
People usually like to confirm quickly (and without having to ask) that their preferred payment method is accepted rather than take the time to enter their info and find it's not accepted.
We added a couple of other bits to our checkout process on Cutting Edge Knives ages ago that helped reassure users - confirmation of free UK shipping and also our money back guarantee. This helped nudge conversions up too.