Hi, @Kevn3000 !
Katy here from Shopify. I hope all is well with you!
There can be numerous factors at play here. Some common reasons might include:
Looking at the former, do you have data on this from your admin or from Google Analytics for example? If you have noticed abandoned checkouts in your admin these can offer some great insight as to why a customer may have 'dropped off' before committing to purchase.
If you don't notice any detailed information here, I suggest to try placing a test order yourself using as much information as you can based on the data that you do have. This will show you the checkout process, exactly as your customers see/ experience it. While examining this, do try to do so from the perspective of a potential customer. Ask yourself questions such as: how easy is this to complete the transaction, is there an excess of pop-ups or clutter in the way? Offering multiple payment choices is great, but there may indeed be other factors at play here. Ultimately we want to make the process as seamless as possible.
In terms of the latter, it's great that you have offered some discounts to your customers. As a consumer myself, free shipping is always a win. Though perhaps there are some more incentives that you can explore. For example a flash sale can be great way to entice customers, as they incite a level of urgency around completing a purchase.
I do also have some further questions for you to consider here:
Having some information (both from your own research, and from your store's analytics) allows you to create incentives here. For example, if you know what products are being viewed the most, or from where your customers are accessing your store, you can then tailor discounts and promotions accordingly.
In sum, there is no single reason as to why this may be happening on your store. In order to determine the cause it will require a bit of digging, and often some trial and error marketing techniques, as you discover what works (or doesn't) for your own target audience. I suggest to start things off by placing some orders yourself to rule out any technical errors, and then to use the data that you do have to allow you to explore things in more detail.
I do hope this helps, though if you have any questions at all feel free to let me know.