Making payment systems simple and reliable for your online customers is extremely important for increasing your conversion rates on e-commerce or other online service platforms.
Online shopping is one of the main advantages of the modern century. He made the buying and selling process extremely easy. However, due to the lack of robust payment methods, many customers are unable to purchase online.
The growth of fintech is no longer news to us. So why not explore the world of modern technology to improve online customer payment procedures?
A customer’s last stop while shopping online on your website is the checkout page. This is where the real conversion takes place. Therefore, customers are more likely to return if your website makes it easy for them to complete the checkout process.
How to simplify the payment procedure for online customers?
Here are some easy ways you can apply to simplify your checkout process for online shoppers—
Allow “Buy now, pay later” options
BNPL (Buy Now, Pay Later) is a point-of-sale financing option that has recently gained popularity, especially among younger generations. These options are often offered to customers at low or no interest rates and at no additional cost.
Thus, there is no expense for the customer. The BNPL funding market was worth a few billion dollars in the United States in 2019, but is expected to grow by 1,200% by 2024.
Below are some of the BNPL service providers. If you plan to introduce payment methods to facilitate the transaction process, easy collaboration with these platforms can help you speed up payments—
- To affirm.
Enable digital wallet payments
A digital wallet is a system that securely stores customer credit card information and passwords for many websites and payment processors.
Information from digital coupons and loyalty cards can also be stored in a digital wallet.
You can still offer your customers the option to pay with multiple digital wallets such as Google Wallet, Amazon Pay, PayPal, and other digital wallets.
Moreover, you can also allow customers to make payments from Crypto wallets. Common hot wallets for cryptocurrency like the bitcoin codes can help you minimize payment effort for customers who want to pay with cryptocurrencies.
In-app digital wallets are also a great option when it comes to online payment systems for your shopping website. You can create your own digital wallet and allow customers to store their money for any future purchases.
Storing credit/debit card details
The easiest approach for your business to ensure that your customers will pay you promptly for the service they receive from you is to request credit card information at the time of purchase or when checking out. appointment.
Before making a purchase, some customers may be reluctant to give out their credit card information because they might want to assess the quality of the business.
Nevertheless, reassure your clients that you have rules and processes in place to keep their credit cards safe and that you only use them to collect payment after the meeting.
Avoid redirecting customers during transactions
The biggest downside of using a service that sends visitors to a checkout page instead of your website is this.
Customers feel like they’re sending their money to a different company than the one they’re buying from since you have no influence on the design of the checkout page.
Improve security and privacy
According to a survey by eConsultancy, 58% of respondents abandoned the checkout process due to payment security concerns.
Building trust with potential consumers requires consistent design and refraining from sending visitors to a third-party checkout page. Always make an effort to highlight the security measures you have in place regarding sensitive information.
Wrap it up!
Using push-button CTAs to guide your customers through a checkout process is incredibly important when it comes to making online payments simple. For example, make it very clear that a customer can “Continue to Checkout” or “Continue Shopping” after adding an item to their cart.
It’s essential to make things clear and concise when using CTAs such as “Continue”, “Order” or “Apply”. For example, the checkout page on Amazon uses words such as “Add to Cart”, “Checkout”, and “Checkout” as clear and concise calls to action.