What consumers want from payments
The payment experience is one of the reasons why consumers return. There are a number of factors that make a person want to pay and the desire to purchase again from the same store. If making a purchase is a hassle, the customer might not wish to continue with their payment. There are times even after they pay, they decide to ask for a refund as the bottom line is that they had an unsatisfactory payment experience.
Seamless payment process
Having a seamless payment processing is essential for any online business for them to increase their sales conversions. This is because consumers nowadays want the easiest and most convenient ways to do their shopping. Anything that complicates matters lessens their appeal for a particular eCommerce site. With the vast amount of competition out there, this can make or break a merchant from being successful or not.
Here are a few things that consumers want when it comes to payments on eCommerce sites:
Multiple payment methods
You don’t really have to put all the payment methods available for you to get more customers buying your product. All you have to do is to provide consumers with enough options for them to choose from. There are some areas around the globe that prefer wire transfers to pay for online shopping. So if you only offer the option of online payment services like PayPal or debit/credit cards, you may be losing a whole lot of other potential customers.
Less information required
Less is always more when it comes to the information you require from your customers to be able to make a purchase. Form fields that go on for days are something that can kill the appeal of a customer from following through with their purchase. Requiring your potential customers to have an account for a certain payment service or on your site can also kill your sales conversion. Consumers should be able to just fill up forms with ease. If the person experiences difficulty filling up the form, they might decide to no longer continue.
Preferred payment method
There are various methods of payment such as via credit card, debit card, or bank account. If the preferred payment method of the client isn’t available, they cannot go through with their transaction. However, there is an advanced payment solution that only requires an email address.
With the use of this payment service provider, you can easily integrate into your system the option to pay with ease. This secure payment system only requires that an email be sent with the relevant details for a transaction to be completed. The client will choose their source of funds like that of a credit card or bank account. To initiate the payment, the email address of the recipient and other details such as the amount is sent to the payment services provider.
When there is not much ado about making a payment, the client will complete the transaction. The payment experience is vital to keep the customers happy and for them to return. You’ll greatly benefit from enabling email transfers as payments. You can easily do so by using the right money services provider.