Digital payments are on the rise, and if you’re an ecommerce merchant, you’ll want to capitalize on this growth. But as this sector continues to become more popular, payment processing systems have the potential to become ever more complex. Between credit card companies, banks, retailers, and consumers, the payments processing landscape represents a fine balance between several parties. However, one feature unites the goals of all these different stakeholders, and that is streamlining online payments and checkouts.
It’s simple, when you think about it. A more streamlined process means happy consumers, which means happy retailers. This also creates a ripple effect reaching credit card companies and banks, who are getting used more often. Streamlining the payments process is simply good business for everyone involved. Below are tips for how to streamline your checkout payment processes.
1) Don’t force registrations
An easy check-out process is key to securing conversions, and avoiding mandatory registration can go a long way towards simplifying the whole process.
This doesn’t have to mean your membership rates have to take a nosedive. If you want both sales and account registrations, it’s totally possible to have your cake and eat it too. Just about all the information users need to register for an account is already collected during a transaction, so simply make it an option at checkout to add a password and create an account.
2) Simplify user flow Being user-friendly as possible can have a big payoff—in one study, improving navigation of an ecommerce site improved the site’s conversion rate by 18.5 percent.
There are a lot of ways to accomplish this. Try to keep users on your site, rather than redirecting them to an outside gateway like PayPal, which can be confusing or even alarming to cautious customers. Don’t put any confusing pop-ups or distracting ads anywhere in the checkout process — you want your consumers to be focused on finishing their purchase. Once they’ve paid, redirect them back to your homepage, so they have the option to keep browsing. And don’t underestimate the power of consistency!
3) Keep it clear and concise
The last thing you want is a confused customer that wants to check out but can’t figure out how. Make sure to give clear directions and calls to action at every stage of the checkout process, so that they can follow the process seamlessly. This isn’t the time to be verbose or long-winded: short, concise directions (preferably in a clean, bold font) are the way to go. You can also offer information buttons to clarify what you’re asking from your users and how you’re going to use it.
It’s important to keep the customer feeling like they’re in control and that they understand what’s happening. Make payment forms intuitive to decrease friction and increase customer trust in the process. One way to do this is to offer a progress bar at the top of the page, so users can always understand where they are in the process.
4) Email a receipt
The checkout process doesn’t end when the customer pays. Sending a receipt is one easy way to make the end of the process pleasant for your customers — and you can use this chance to upsell or cross-sell, or offer a coupon to encourage a purchase the next time they visit your ecommerce site. Emailing an easy-to-understand receipt offers a natural ending point for what was hopefully a cohesive and sleek payment process.
5) Learn about new digital payment technology
Finally, don’t just focus on the present — keep an eye on where digital payment is heading, so you can get in early and provide the best technology for your customers.
Offering a great experience for your customer means you should offer a simple, streamlined payment process. From start to finish, your users should feel like their transactions are frictionless and easy. There are many ways to simplify your current checkout process — these tips are only a starting point. Remember that implementing these changes is an important investment in your online business.
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Why choose Paywise as your payment processor?
We keep costs as low as possible.
We provide multiple payment options to boost your sales.
We secure your site against fraud.
Contact Paywise today and let’s have a chat about your e-commerce online payments.