Actionable Tips for Optimizing Online Payments and Getting More Conversions
Online payment is one area of ecommerce that needs that next great idea from a genius. While the Internet has automated most processes and made it easier for companies to sell products to customer worldwide, payment remains a hassle. Even for the best ecommerce websites, the customer has to enter an address, enter a long card number and fill in other details to complete the payment.
As it is, the payment process is pretty repetitive and time consuming. And, many online stores make things hard by not allowing certain payment methods or by putting a lot of conditions on payments. Payment hassle is one of the big reasons why many people choose not to shop online.
If you can make your payment process as easy and simple as possible, you can count on a spike in conversions and sales. And, who knows, grateful customers may also develop some loyalty towards your website! What can you do to make improve your online payment process? Here are some actionable tips and tricks that will help you.
1) Show that you can be Trusted
I may not have any qualms about using my credit card when I am buying from a small, niche online store that I don’t know much about, I am a little wary. There is a good chance that many people visit your online store for the first time and they may feel a little uncertain. They may feel it unwise and unsafe to pay money online on your ecommerce website.
So, it is a good tactic to reassure the users through clear and prominent signs on security and privacy. The most popular way of doing this is highlighting the SSL and PCI compliance symbols. Also, humanize your website with pictures of regular people with testimonials and offer live chat option allay any online payment insecurities.
2) Offer the Right Payment Methods
For most online stores, the most popular payment method will be credit cards or debit cards. But, there are several other ways in which users may want to pay. So, offer as many payment methods that you can provide. It won’t be possible for you to cover each and every method – there are too many.
But it is best to study your target audience and see what payment methods they prefer and expect. By ensuring that a few key payment methods are available, you can make things more convenient for your customers.
3) Use Simple Web Forms with Inline Validation
Ask the users only for the most essential information and use real-time inline validation to let them know immediately when the data entered in the fields is not valid. This will make sure that customers do not have to go back and make changes in the form.
4) Consider Avoiding Redirecting
While savvy online buyers understand that they may be redirected to PayPal or other online payment sites, new users and less tech savvy users find it unsettling. Many users may feel that they are making the payment to some other website. They may feel insecure and leave your website without buying the product.
So, as far as possible, accept the payment on your website without redirecting the users. This may require more investment in ecommerce web development, but this can be a strong factor if you are functioning in a niche where most users don’t understand online payments too well.
5) Let Customers Pay on Delivery of Goods
While the above methods will help you offer better and more trustable online payment facilities to your customers, you will still not be able to reach a large number of people who do not have any way of paying money online. This is especially pertinent in the case of customers in developing markets.
By offering the option of payment on delivery, you can enable a large number of such users to buy good from your website. Sure, you will have to set up infrastructure for this kind of payment, but it will give you a sharp edge over your competitors.
By using these tips, you will make payment easier for the users. Undoubtedly, this will improve the user experience substantially and help you get more conversions and sales. Are there any other methods that you have used to improve online payments? Please share your insights and experiences in the comments!
And if you need help with building a better store, get in touch with us!
Cygnet Infotech is a CMMi level 3 and is ISO 27001:2013 and ISO 9001:2008 certified, 18 year old global technology provider enabling ISVs & enterprises through emerging technology, software engineering, technology consulting, SAP Implementation, advisory & maintenance services. It’s proven 18-year track record boasts of successfully delivered 1400+ valuable software solutions to its diverse clientele across the globe using a global delivery model.View All Posts