9 Ways to Make the Payment Process Easier for Customers

In this era of rapidly evolving digitalization, and post-Covid situation, the world has largely shifted to the medium of online payments. With easy access and convenience, more and more people are committing to this elementary method, mostly at challenging times when this technology came to the immediate rescue of all.

During the Covid 19 pandemic, human beings had certainly been accustomed to instant virtual connections like digital banking and shopping. Consequently, the businesses benefitted in manifold ways, giving customers the option to pay online and hence drive more conversion rates and sales. Companies also get the RapidSSL wildcard to secure customer details.

A survey conducted by a renowned consumer billing and payment company revealed that almost 70 percent of respondents today prefer the mode of digital payments. At the beginning of the year 2020, experts had predicted that the total spending by online consumers is expected to hit $100 billion. At present, on an average, the daily payment quota of consumers online is $40 billion.

Studies have also mentioned that online E-Commerce consumers alone will contribute to 20% of the global retail sales by the year 2023. Henceforth, every business and enterprise should pay added attention to ensure smooth payment gateways for all.

In this article, we will discuss some constructive methods of assuring that.

1. Providing numerous payment pathways

Although it does sound obvious, there are many websites on the internet, which offer only a single payment medium. This is highly inconvenient for the customers. The Milo Mclver detailed survey report concluded that 56% of all global consumers prefer more than two payment methods after checking out. Hence, it is practical and conceivable to have multiple payment options than a single one. This way, you can also attract more audiences.

For example, you can go for the following combination – options for direct bank transfer, the option of payment via credit and debit cards, through application based payment platforms etc. The customers should also feel secure enough while paying online.

2. Allowing payments without having an account

People find it an extra hassle to register, remember passwords and username before being able to make an actual online payment. Most websites force people/first-time customers to sign up. Little do they realize that it is a big conversion killer, thus hampering the business in a major way.

A magazine named Smashing Magazine once wrote an interesting piece which mentioned that the significant reason why users hate to sign up on any website is due to the fear of getting flooded with promotional messages and emails. It also prolongs the entire payment procedure without any reason.

Hence, every business should make it easy for buyers to carry out online payments. This way, they will be less baffled. Potential consumers can also sign up as guests to simplify the process.

3. Fix errors immediately

Given we are all human beings and not machines, typing errors and spelling mistakes are bound to happen, especially while entering all the payment details one after the other. Sometimes mistakes also happen in the case of entering card number or expiry dates. This is why you can help us. Program your system in a manner that users can easily resolve this issue without having to type repetitively.

Alert them about the fields where the correct information is necessary. Auto-fill the boxes with the relevant information in case an error message pop up or the page are reloaded again. Save the previous information already submitted. This is a very useful tip to make it easy for people who are visiting your site. Seamless payment page design.

4. Go for a seamless yet engaging design

This is highly essential from the branding perspective. Try to keep every element on the page consistent, without any distractions like advertisements. Balance the colour, fonts and layout. All these will speak greatly about your brand and you as a professional businessperson.

Henceforth, never give up control over how your website payment/checkout page should look. This page is crucial, given it comes at the end of the sales cycle. Too many advertisements on the checkout page force the buyers to leave the payment incomplete. Hence, keeping the customers engaged and interested should be one of your core responsibilities.

5. Flawless checkout

While checking out and going ahead with the online transaction, often buyers face the trouble of server problems or difficult to put in information etc. These should be immediately taken care of. If someone is a new customer, give them the option of auto-saving all the details so that they do not have to go through it over and over again. Auto-correction of mistakes is another suitable idea.

To enhance business, the checkout page should function flawlessly. Before launching the website, analyze and test the page carefully so that further issues can be avoided.

6. Avoid re-directing people

Most websites re-direct the customers/buyers to another website after or before checkout. This is one of the biggest mistakes a business can make. As the leader, your prime objective should be to make more consumers visit your website. Most payment services also re-direct buyers away from the main website. You should avoid those to the maximum.

You can give away your sales to another business altogether. Hence, the aim should be to build strong consumer loyalty to increase buyer retention.

7. Assure security

The smooth execution of online transactions is possible only after the buyer provides all his necessary personal information to the website. So, whenever data and information exchange happens on any internet platform, the customers look for utmost guarantee and security assurance. Studies have suggested that almost 58% of the buyers opt-out after checkout given the doubtful security systems. This becomes a huge concern for the business.

Begin by building a soberly designed checkout page, without redirecting the customers to other outsider websites/places. This contributes to building the trust of the buyers. Convince them that all details are kept confidential and protected against hackers. Possessing an SSL or Secure Sockets Layer certificate is the key to keeping your website safe and all the data encrypted from third party users.

Comply with the standard guidelines of the PCI SSC or PCI Security Standards Council. The card companies, who manage security protocols regarding storage, transmission and processing of the cardholder’s data, enforce it.

8. Ask for important information only

Buyers hate giving in too much information, also because of the security concern. Hence, websites should only ask for critical and necessary information. Redundancy in work should be avoided to the maximum. Customers get bored while providing needless information, which also consumes a lot of extra time. Adding long lists in the forms is also exhausting.

To reduce cart abandonment rates, you have to optimize the checkout and payment page. After putting in additional details like email id and phone number, the customer should be able to proceed and complete the transaction smoothly.

9. Think from the customer’s perspective

The ideal payment process for any website is rooted in the minute preferences and interests of the customers. Hence, you should adjust your payment page to be completely customer-centric. To accommodate their needs, a variety of different tools should be implemented. Give the assurance of cross-functionality, since Smartphone users are increasing rapidly. Lastly, the payment process should be easy and simplified with extra features like a guest checkout mode.

Conclusion

Attracting more and more audiences to the business is a big challenge. Assuring unhindered online payment or transaction besides making it buyer-friendly is the key. Devising new online payment strategies is also likely to work in the favour of all, most importantly the businesses to increase their sales, profit, revenue and conversion rate.