To have a successful e-commerce, it is not enough to have a usable website, products with competitive prices and a good position in search engines for the consumer to find you. It is essential to have a good online payment method so that the customer who has already decided on the purchase does not abandon at the last minute.
Safety is the main concern
The security of the internet payment system is the number 1 concern of consumers when buying in a virtual store. Studies show that payment service providers face a lack of consumer confidence in their security methods.
According to research conducted by Kaspersky Lab and B2B International, 71% of users felt vulnerable while making online purchases or transactions, and 57% of users use online payment systems more often if they feel protected from fraud . .
The research also shows that 67% of users are afraid of financial fraud and that 56% of users abandon a financial operation in the middle of the process because they are not sure about the security of the transaction.
“Many users continue to feel more secure paying in cash or using their credit cards in a physical location, rather than shopping online with their computer or mobile device. This resistance hinders the development of the online payment market . To encourage people to use online payment services more, banks, online stores and online payment systems must strengthen users’ sense of security,” says Ross Hogan, Global Leader of Kaspersky’s Fraud Prevention Division. Lab.
3 tips to improve online payment
Find out below three tips to improve the online payment method of your e-commerce and reduce the abandonment rate at checkout, to increase the number of sales conversions.
1. Improve security
Customers need to know that shopping on your website is secure. Invest in cryptography and security certificates. Also use stamps that prove that your internet payment system is reliable.
2. Do not require an account for the purchase
You may think it’s a good idea to require the customer to fill out a lengthy form before buying. This way you would obtain their information and then you could send them offers, for example. But while data can be valuable, focus first on completing the sale with a good checkout experience. Then you can propose that he leave his other data.
3. Offer various forms of payment
Your client cannot reach the end of the purchase and not have the credit cards that you accept available. It offers systems that integrate various forms of payment: debit cards, credit, invoices and transfers.