5 Tips for Improving Your Customer Payment Experience

Did you know that 59.8% to 80% of customers often abandon their carts before purchasing? Some of the leading reasons for cart abandonment is a frustrating payment process or high processing fees.

There is a need to enhance the customer payment experience to increase your sales volume, build a loyal client base and remain competitive in the market by providing convenient and cheap payment methods like PayPal. This guide outlines PayPal transaction fees and other payment method fees as well. In this article, we’ll outline five tips to improve your customer payment experience to achieve your company’s bottom line.

1.    Provide customers with multiple payment options

The first step to enhancing your customer payment experience is offering various payment options. Customers want to use their preferred payment choice instead of having a method they are not comfortable with imposed on them. Before investing in a specific payment system, conduct a quick survey to determine what your clients expect and the methods of payment they prefer. Next, set up a platform that accepts cash, PayPal, Visa, MasterCard, gift cards, and check payments.

2.    Support payments on multiple channels

Customers often interact with your business via mobile phone, in person, social media channels or online. Some customers even change their preferred payment methods over time. For instance, a customer may opt for an alternative payment method to avoid high PayPal transaction fees. Ensure that your company accepts payments and connects clients to customer service regardless of their point of interaction with your business. This will increase your sales and generate customer loyalty.

3.    Implement a simple payment procedure

If your payment procedure has too many steps, is confusing, or takes too long to complete, you increase the chances of cart abandonment. Note that any actions or unnecessary requirements you include between a client's purchasing decision and their ability to purchase prompts them to leave and buy elsewhere, leading to a loss of sale. To simplify the payment process, you should:

●       Reduce the requirements for online purchases. Do not demand that clients sign in or complete complex forms to complete a purchase.

●       Provide clients with the chance to create an account where they can save essential information, including addresses, phone numbers, and payment details to speed up the checkout process.

●       Ensure all payment requirements are clear to reduce the chances of declined payments

4.    Enhance security

As cyber criminals devise more sophisticated strategies to access confidential financial details, customers are becoming more cautious about the information they share, to whom they disclose it, and how they do it. For this reason, you have to implement robust security strategies to establish your company as trustworthy and reassure clients that their personal information is safe.

To enhance security, you should avoid asking clients to read their financial details aloud, obtain an SSL certificate for your business’ website, and invest in Digital Secure Remote Payment (DSRP) that uses EMV-based cryptography. Additionally, certain businesses go the extra mile by offering automated online identity verification, such as Jumio, to enhance customer security, provide added assistance, and ensure a seamless user experience.

5.    Provide an easy way for clients to contact customer care service

Some customers may experience challenges such as declined credit card payments when checking out. To avoid missing out on a sale, you should ensure that these customers can easily reach your customer service. Include your contact information on all your web page footers, or provide live chat features to enable customers to get instant support.

Endnote

Do not let the time and money spent promoting your products and services go to waste because customers struggle to complete a purchase, so they walk away. Allow multiple payment options via different channels, simplify the process, enhance security, and provide an easy way for clients to reach customer service to improve the payment experience.