Companies frequently make the mistake of undervaluing the significance of a smooth payment process. Improving your customers’ payment process will result in more sales and an increased conversion rate; ignoring this crucial aspect of their purchase journey will have the opposite effect.
What Is A Third-Party Payment Processor, Exactly?
You can process payments from customers using a third-party payment platform instead of setting up your merchant account. This is ideal for businesses of all sizes that will grow and don’t have a lot of revenue coming in every month.
A client can use their debit card to make the payment through a point-of-sale system if they have a merchant account. Companies that have a merchant account will be able to accept payment and complete the transaction quickly.
This is where third-party payment processors come in if you don’t have a merchant account. Always be watchful for ways to make the payment process go more smoothly. Here are a few suggestions for you to think about:
1. Provide As Many Payment Opportunities As Possible To Customers
Not everyone has a PayPal account, and not everyone wants to use their credit card on the internet. Each visitor has different preferences, and you should ideally be able to provide them with their preferred option. Offering a variety of payment options is particularly important for companies with international customers. Ecommerce stores, podcast creators, learning platforms, and bloggers who sell products on their blogs are examples of this.
2. Don’t Ask For Too Much Information
If your customer is only purchasing an eBook from you, do you need to know their complete address, phone number, and date of birth? Most likely not. Customers have been known to abandon their shopping carts if the website requires them to fill out too many fields. Save your clients time and effort by using less. If you need more information, scribble a note on the side explaining why you need it. Full disclosure goes a long way as people become more knowledgeable on the subject of online privacy.
3. Do Not Send Visitors To Other Websites
When we say that reroutes are incredibly annoying, we believe we speak for everyone. You want your clients to think of your company, not someone else’s. This is a disadvantage of using services like PayPal to complete payment transactions, and you end up redirecting your visitors away from your homepage and sending them elsewhere. Because it’s the final step of the sales funnel, finish the transfer of funds on your website if at all possible
4. Allow Customers To Check Out As Guests
Many apps and websites require customers to create an account before they can make a purchase. Customers must create accounts on sites like Amazon, DoorDash, eBay, and others before processing an order. While big brands like these can get away with it and still make millions, smaller companies should avoid doing so because it may negatively impact customer experience.
5. Make Your Security Badges Visible
People, particularly the elderly, are wary of entering their financial information on a website they have never used before. Merchants say a percentage of their annual online sales, as per the 2019 American Express Digital Payments Survey data. This is an increase of 8% from the previous year.
6. Consider Including A Recurring Billing Option In Your Service
Every month, you must bill your customers if you provide a subscription-based service, such as web hosting or outreach. Because no one wants to log in every month to make a payment, recurring billing is used. This idea has gained a lot of traction because it makes life easier for you and the customer.
However, some people may be hesitant to have money deducted from their accounts automatically. Sending a reminder email a few days before the amount is debited could put their minds at ease. This is something Netflix does with all new users.
7. Stay Away From Pop-Ups, Social Media Icons, And Email Sign-Ups
Everything has its time and place, and your opt-in form should not be on your payment page. An opt-in form can help you grow your subscriber list, and social media icons can help you reach out to more people on Instagram.
However, you don’t want to be distracting a customer who is about to hand over their money with adverts or non-essential pop-ups.
There is no navigation menu, no ads, no opt-in forms, nothing on their landing page. It’s the final step before buying a product, so all eyes are on the pricing structure, the free trial, and completing the payment process with a single click.
You can do the same thing with your landing page by using a landing page builder like Leadpages, which provides you with many options and design elements to work with.
8. Provide Email Invoicing With A Click-To-Pay Option
If a customer is hesitant to deduct money from their account automatically, you could send them a click-to-pay email invoice. This is precisely what BigScoots, my web hosting company, does.
If you have a credit card on file or choose a PayPal subscription, the amount will automatically be deducted each month. If you don’t have a PayPal account, you can pay after you receive notification through PayPal. A click-to-pay invoice looks like this.
Take a stroll down trip back and think about things that irritated you during an online payment encounter now that you’re armed with a few ways to make the payment process more efficient for your customers. Your clients will likely dislike the elements you didn’t like.
Most of us, for example, have had reservations about the security of online transactions. Take a deeper look at this and focus on demonstrating to your customers that your methods of payment and process are reliable. This can have a significant impact on your conversion rates.
Anything you can do to make your customers’ lives easier will help you grow your business. You want your customer to enjoy their entire experience with your brand.
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