Did you hear? The brick-and-mortar shopping experience is dying a slow death. Shopping malls are shutting down, retail stores are closing their doors and many brands are filing for Chapter 11.There are several reasons for this trend occurring across North America: a real estate bubble, too much expansion during the 1990s and early 2000s and not enough foot traffic these days.Of course, the biggest culprit for the demise of retailers is the rise of online shopping.
When you’re a merchant in today’s generation, your first thought isn’t to establish a physical retail store. Instead, your immediate inclination is to head online and try to survive and thrive in the realm of ecommerce. But it isn’t as easy as setting up a website, selling products and marketing your goods. You also need a great payment processing system in place.
Here are five tips to make payment processing easier for online customers:
1. Offer Multiple Payment Methods
For years, the two most popular forms of payment on the Internet have been credit cards and PayPal. In recent years, however, a vast number of payment methods of popped up, such as Apple Pay and bitcoin. They have been adopted by millions of consumers all over the world.
It is time that you implement these payment options into your business model as well.
When you give your customers a wide variety of payment methods, they’re far more likely to shop at your online vendor than skipping your digital store. So, add as many as you can.
2. Provide Guest Checkout
One of the most difficult aspects of being an online shopper is having to open client accounts on a website. Whether it is purchasing a shirt or buying a piece of equipment, the business often requires you to establish a customer account. It’s understandable why they do it, but it’s irksome.
A simple solution to this annoying feature is to offer your customers a guest checkout tool.
By doing this, the shopper only needs to provide basic client information, payment details and an email. That is all! Done like dinner. This makes everything a lot easier and faster.
3. It’s Time to go Mobile
Mobile commerce is the next big thing in the world of online shopping. Like email and social media, more and more people are doing their shopping with their smartphones and tablets.
What does this mean for you? You must adapt to this growing trend almost immediately.
Rather than tailoring your payment processing to desktops, you must design your payment processing page with mobile in mind. This isn’t too difficult to achieve, but it must be a priority.
4. Easy-to-Fix Errors in Checkout
Here is a common scenario: you buy a product, you head to the checkout page, you fill in the required fields and hit the submit button. You return the previous page to be notified that you have made an error, but the more frustrating revelation is that all of your information was erased.
As a webmaster, you must keep in mind that you should establish a checkout page where it is easy to correct any errors that have been made, with highlighted fields and undeleted details.
If all of the information has been wiped away then the risk of shoppers abandoning process increases substantially.You never want the cart abandonment rate to jump.
5. Highlight Your Security & Privacy Features
To this date, online shoppers remain apprehensive about digital commerce because of potential security infiltration, data breaches and a paucity of security on the website. It’s scary out there.
The best way to put shoppers’ minds at ease is to display your extensive security and privacy features: certification, technologies, logos and the list goes on. Once you have added these features to your checkout page then shoppers are more likely to go through with the payment.