A smooth and hassle-free payment system is one of the hallmarks of a thriving business. When you have a complicated or restricted checkout process it’s likely to lead to a lot of cart abandonment.
This is because customers become frustrated by the process. You will then lose a lot of sales. Whether you run an e-commerce store, a subscription service, or an online consulting business simplifying the payment process is a must. Here are some of the major ways in which you can go about doing that.
Offer Multiple Payment Options
Customers have different preferences when it comes to payment methods. This is for a number of different reasons. Some prefer to use their debit card while others prefer to use credit cards.
Some prefer digital wallets such as PayPal, Google Play, and Apple Play. When you offer a variety of payment options, you cater to a wider audience and reduce the likelihood that people are going to abandon carts on your website.
If your business is operating in a niche industry such as alcohol sales having the right payment processor is more important than ever. When you have an online alcohol merchant account it is going to ensure that your transactions are seamless while you comply with industry standards.
Implement a One-Click Checkout
Perfecting one-click checkout is something that you need to try. Complicating the checkout process is going to frustrate your customers and drive them away.
When you have one click check out it allows your returning and regular customer to purchase without having to re-enter all their payment details. This ensures that there is a seamless process as they try to purchase goods.
The result is less frustration and higher conversion rates. The bottom line is that making it easy for your customers to conduct their transactions in seconds will do wonders for your business.
Optimize for Mobile Payments
With so many consumers shopping on their smartphones and tablets mobile payments are important. You need to make sure that your checkout page is mobile-friendly. The best way to do this is to make sure that there are easy-to-click buttons, autofill payment details available, and simple navigation.
Make sure that you are supporting all the major payment wallets such as Google play and Paypal. Customers who are using their phones rarely want to pull out their credit cards unless they have to. They might be purchasing on the go and in a busy location. Making it easy for them to use a payment wallet is going to increase your conversion rate.
Ensure Payment Security and Trust
Customers are more likely to complete a purchase if they feel that the website security can be trusted. Make sure you use a secure payment gateway to encrypt transactions.
Whenever possible display trust badges such as an SSL certificate and your payment provider’s logo. This will reassure customers that their financial information will be kept safe if they make a purchase.
Allow Guest Checkout
Forcing your customers to create an account to make a purchase is one of the quickest ways to frustrate them and get them to leave your website. If someone doesn’t want to create an account you should make sure that guest checkout is available.
It allows them to complete their transaction quickly. If you want to encourage them to create an account do so after they have made a purchase by highlighting the benefits, like faster future checkout and order tracking.
Reduce Form Fields and Steps
As mentioned before, making the checkout process simple is critical. With too many form fields you are going to overwhelm your customers.
Minimize the requested information that you need to complete the purchase. Keep the information you require to the bare minimum.
Provide Transparent Pricing
When you have hidden fees and unexpected charges people will abandon carts. You need to be upfront about pricing, this includes taxes and shipping costs as well as additional fees.
When you have a clear itemized breakdown of the total cost right before checkout this reassures your customers that they will not be paying more than they should. This will go a long way in increasing trust.
Enable Subscription and Recurring Payments
For businesses that offer membership, subscription-based products, and software services recurring payment options can improve your customer retention. Always allow your customer to save their payment details securely and automate their payments for these services.
Try to avoid having them go through the checkout process repeatedly as this can lead to some frustration and may influence whether they keep the subscription or not.
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