There are several businesses out there who are focusing on marketing their services/products, building brand and acquiring new customers. But at the time, they just skip the most important point which is payment conversion.
Creating a simpler paying process is essential to increase sales and conversions. Regardless of how successful your business is at alluring customers, friction in your payment process will lead to the abandonment of shopping cart and increasing customer churn.
Let’s imagine a case where a customer wants to buy your service but is not able to process that payment. This will result in your business losing the sale. Therefore, it is imperative to utilize payment system that helps in secured, faster and seamless checkout experience.
1. Provide Different Payment Modes
Consumers expect businesses to offer their preferred method. According to a report, 56% of people want businesses to offer a variety of payment option on the checkout page.
It can be a digital payment method like PayPal, a mobile payment service or a credit/debit cards. These methods allow easy and quick payment experience as they can be authorized within few clicks and a single password.
2. Integrated Experience is Must
There are customers who do not prefer getting redirected to other external payment gateway site. This raises red-flag, increases the chance of error in payment and distract customers from your company-branded experience.
Rather start investing in online payment gateway to link with your website, shopping cart and mobile app. Moreover, A right payment gateway partner will provide your business the ability to make faster payments.
3. Encourage Payments without an Account
Well, nobody wants to remember another username and password. No business wants to put a wall between them and their customers. Also forcing people to sign up become intrusive and conversion killer for the first time customers. According to a study by Smashing Magazine, the main reason behind not wanting to set an account is due to fear of getting flooded with promotional emails.
The easiest way to lose the sale is by asking for too much information or making them fill several forms. By the time your customer reaches to check out process, you already have all the relevant information. So, avoid any extra form as it will only cause them to abandon the purchase.
4. Reassurance on Privacy and Security
According to the eConsultancy survey, 58% respondents drops checkout process due to security issues. You need to have a secure Secure Sockets Layer(SSL) certification to provide secure connection and encrypt card information. Additionally, comply with the PCI standards. Investing in security protocols like SSL and PCI is crucial for businesses. A right processing partner will implement these security measures to serve your customer without any privacy and security issues.
5. Be Transparent on Payment Mode
At times, business forgets to offer clear indication on a final purchase price. If customers have to invest time in the price of particular product/service, they are likely to lose interest. This makes it important to be transparent in the checkout process. An “easy-to-find” button allows visitors to easily navigate and add items to shopping carts. Another important aspect is to let customer receive confirmation message regarding the purchase.
Keeping the above tips in your mind will create a simple online payment process for customers. All you need to do is find a right company that helps your serve your customer through modern and integrated online payment gateway.