Credit cards remain the most popular method of payment, especially when making purchases online. But there’s no denying that customers are beginning to branch out and pay in new and different ways.
Making the checkout process smoother and simpler, while maintaining various options is a great way to generate more revenue for your business. It also keeps customers happier. Win-win!
When thinking about payments, consider the perspective of the shopper. It’s fun to browse a website and add items to your shopping cart. Many people “window shop” like this, adding items that they desire but may not actually purchase. However, plenty of people also shop for items that are necessary, or those they want enough to buy.
Converting these visitors into buyers is crucial for your business. Yet it’s also a big challenge. Did you know that nearly 70 percent of online shopping carts are left abandoned? Some of the many reasons for cart abandonment include:
- The checkout process requires shoppers to register an account
- High shipping costs and/or taxes
- Website errors or malfunctions
- A complicated checkout process with too many steps
That last point is significant for two main reasons. For one, it’s a leading cause of cart abandonment. In fact, about 39% of cart abandonment can be traced back to a lengthy or complicated checkout process. The second reason is that you can take action to simplify the checkout process, therefore lowering the likelihood of cart abandonment.
A clean, simple payment integration makes it easier for customers to complete transactions, which leads to a higher conversion rate. What are some things you can do to make the checkout process more seamless?
- Offer both guest and registered checkout options. For customers who register an account, provide a way to securely save payment data. Once data is entered the first time, customers who are signed in can complete a purchase with just one-click.
- Allow customers the choice to use any payment method, such as credit card, eCheck, or eWallet. For even more flexibility, allow customers to pay with gift cards and coupon codes, in combination with any other payment method.
- Ensure that your website is responsive, meaning that it appears correctly on any device from smartphones to desktop computers. This helps minimize the occurrence of technological issues.
Selecting and integrating the right payments solution provides a better user experience for both organizations and customers. A provider like Forte can integrate a comprehensive, yet flexible payment solution into your existing software and systems. A seamless integration can be conducted within a few days to a few weeks, without affecting your daily operations.
This allows you to upgrade your payments, providing customers with a cleaner, smoother transaction process. Happier customers are more likely to follow through on purchases, leading to more conversions, sales, and customer loyalty.