Ways To Make The Payment Process Easy For Online Customers

By Author: Sahil Verma
Total Articles: 160
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While customer experience has become a primary focus for eCommerce retailers, many are overlooking an important stage of the online customer journey – the payment process through an online payment gateway. If the checkout process is too long or complicated, approximately 87 percent of online shoppers abandon their carts. A complicated and time-consuming payment process can be a significant contributor to cart abandonment.

Streamlining the online payment process will be a game-changer for eCommerce retailers looking to increase conversion rates. SifiPay outlines eight methods for making the payment process as simple as possible for online customers.

Don’t put all your eggs in one basket

Today's shoppers want variety, which is why it's critical to avoid making the mistake of offering only a few payment options. One-fifth of digital buyers worldwide would not complete an online purchase if their preferred payment method was not available, according to the Global Alternative Online Payment Methods 2020 and COVID-19's Impact. Over 200 alternative payment methods are ...
... available globally, including buy now pay later, mobile payment solutions, bank transfers, direct debit, digital wallets, cash on delivery, e-invoices, and digital currencies. Furthermore, alternative payment methods accounted for nearly 55% of global eCommerce payments last year. The message is clear: if you don't provide a variety of simple online payment methods, you're doing your eCommerce platform a huge disservice and potentially missing out on a sizable audience.

Offer flexible payment options

According to a recent Global Web Index report, 83 percent of consumers believe brands should offer payment flexibility. Flexible payment options, such as SifiPay's online payment gateway, allow consumers to get what they need right away without falling into a debt trap. This is especially important at a time when consumers are facing additional financial strain as a result of the Coronavirus pandemic.

Keep it as simple as possible

Online shoppers expect their shopping experience to be quick, easy, and efficient. As a result, it is critical to keep the checkout and payment processes through the best online payment gateway as simple and user-friendly as possible. The more complicated the product, the more likely the customer will go elsewhere to find it. Make clear calls to action, keep distractions to a minimum, and keep the page design and navigation simple and to the point.

Make them feel secure

According to one study, overall retail fraud attempts have more than doubled year over year and have tripled since 2017. Because of the COVID-19 pandemic, a record number of people have gone online, making online shopping fraud even more common. It is therefore critical to make customers feel safe while shopping on your eCommerce site by displaying the safeguards you have in place to protect their personal information.

Offer an account-free option

Provide customers with an account-free option that does not necessitate an additional step in the checkout process.

While encouraging customers to create an account on your website is a great marketing tool, you may be limiting your sales if your site requires mandatory account creation in order to make a purchase. This is especially true for first-time customers who are unfamiliar with your brand and offering and may be hesitant to sign up.

Detail storage option

Returning or repeat customers will appreciate the idea of you storing their information (securely, of course) so they don't have to waste time entering their payment and delivery information each time they visit your store.

Communication is key

A streamlined, simple online payment process requires clear communication. Once payment has been received, send the shopper a confirmation of their purchase. Make sure to give them a trackable order number so they can see when their order will be delivered.

Avoid redirecting away from your site

You lose control over things like error messages, customer service, and payment confirmation when you redirect the customer to another website to process payments. This is extremely dangerous and could have a negative impact on the customer experience. This is also an extra, unnecessary step in a process that should be quick and efficient. Whatever online payment gateway you choose, make sure you offer on-site checkout.

Conclusion

A streamlined payment process can significantly increase revenue for eCommerce retailers in addition to being an important component of providing an integrated and seamless shopping experience. You've made it to the home stretch if you can get a potential customer to enter their payment information. It is not easy to get to this point, which is why you must do everything possible to ensure the shopper follows through. Implementing a strong payments strategy that includes a variety of simple online payment methods is thus a significant opportunity for retailers to gain a competitive advantage.