Categories
eCommerce

How Has COVID-19 Affected the Online Payment Industry?

While the payment industry has experienced rapid positive changes over the years, the pandemic has made it necessary to adapt even faster. From the changes in consumer shopping habits and the drop in international trade, the payment industry faces many implications. One of the most obvious ways the coronavirus has impacted the payment industry is the increased demand for digital payment methods that the payment industry has to facilitate.

There are many other developments the payment industry has undergone as a result of the pandemic. Here are a few examples:

1. Consumer buying and paying habits have changed

There is an obvious in a consumer’s buying habit, from reducing in-store purchases to the increased need for sanitation products. Nevertheless, the most significant change here is the fact that the majority of all customers are opting to shop online. This also constitutes the fact that the method by which people pay has also changed.

No longer are people using cash to pay for their groceries, clothing, and other necessities. Even those going to stores in-person are opting for simpler and safer solutions, such as contactless payments using debit or credit cards and mobile wallet payments. This has caused many merchants who have not employed a contactless payment option to suffer greatly.

As a result, the need for POS (point of sale) systems like terminals has increased to facilitate this “new” way to pay. For the payment industry, this translates to an increased need for their services, allowing them to do great business despite the pandemic.

2. E-commerce has never been so popular

For many small and large businesses around the globe, in-store sales have been declining rapidly. The only way for many of these to survive is to provide their products and services through online means. Essentially, the movement to e-commerce has become a must if a business wants to continue operating.

The establishments that have already set up online payment solutions have reaped the benefits. With quick and easy online payment solutions implemented, customers can quickly pay for the things they need without handling physical money.

For those that have yet to implement online payment methods, the need for payment services providers has increased phenomenally. Besides the usual online payment solutions, additional services like financing options have allowed the payment industry to press on.

Put simply, with e-commerce gaining in popularity in the face of the pandemic, online payment solutions have been sought after by many. With their checkout processes facilitated by service providers, not only do they reduce the burden of handling payment, but they continue to keep their business alive through digital means.

Conclusion

As one can see, the pandemic has driven many businesses to go digital, whether in the form of contactless payment or offering an online store. Whether it is recurring payments, reduced fees, or contactless payment, all of these are new payment methods that many conventional businesses may have to implement. In effect, the payment industry has and still is facing rapid changes due to the coronavirus. The need for new payment methods has driven them to provide better software and other POS solutions to facilitate the changes, benefiting both the solution user and the solution provider.

Payment Page is a payment page builder driven to offer multiple payment solutions to make the consumer’s life easier. If you are looking for a solution to accept payments for your website, use our WordPress plugin to create a hosted payment page! Get in touch with us today.

Categories
eCommerce

3 E-Commerce Payment Mistakes That Can Affect Your Sales

While plenty of website traffic can translate to more sales, this is not always the case. Your SEO or PPC strategies can push all the users to your website, but without further consideration for its design, a website might underperform in terms of turning visitors into buyers. 

There is no such thing as a perfect system. It is impossible to convert every single visit into a purchase, but it is nevertheless important to aim for as high a conversion rate as possible. If you’ve got a great site design and plenty of interest for your product, though, what could be the issue? We’ve got one culprit you may want to consider: your payment page.

How quickly your customer converts into a purchase often depends on how many clicks it takes to get to your payment form. That being said, this article will talk about what else you can do on your business website and what mistakes you can avoid making that can expedite the process other than the obvious route of reducing clicks. Here are some of these strategies:

1. Not informing the customer of their checkout progress

We’ve spoken before about the importance of making sure your website is easy to navigate. This means making it as easy as possible for visitors to get from your landing page to your checkout page. Beyond the ease, though, you can take things a step further by showing them how far along they are in the process. 

Customers might find it tiring to be forced to endure all the steps needed to make online deliveries, such as inputting their address, filling in their contact and payment information, and so on. If they are made aware of how close they are to the finish line, though, they may be more inclined to complete the purchase. A progress bar also adds a layer of transparency that might just provide enough transparency to make them feel more comfortable. 

2. Not allowing guest checkout

The numerous website data breaches of the last decade resulted in billions and billions of accounts and various details being leaked to unscrupulous criminals on the internet, and as such, users are now more reluctant to hand over their details to just any website. 

Allowing your customers to check out items as a guest can help them feel more comfortable about their purchase. It addresses their security concerns and can expedite the process—especially since they don’t have to go through the extra step of making an account. 

3. Not disclosing delivery and other additional charges

Nothing turns off a buyer more than surprise charges. It is the reason why 7 out of 10 buyers abandon their shopping carts right before the final step. Even before your customers reach the payment page of your website, they should know exactly how much they’re paying for. 

Customers have to be made aware of any and all charges as early as possible, so that they don’t feel like they’ve been fooled into paying more. If possible, try to offer promotions that give your customers perks like free shipping or small gifts depending on how much they buy. 

In conclusion

The payment process is an important aspect of the customer experience. As such, it must avoid the previously mentioned mistakes. Avoiding these mistakes can allow you to offer your customers two things: transparency and security. These are just two of the most important things to think about when designing your website and payment page. 

If you need a payment page builder, send us at Payment Page a message. We have the expertise to make this process more convenient for your customers, turning those visits into purchases. 

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Marketing Tutorials

A Guide to Designing a Payment Form Users Will Love

In any online eCommerce site, the most important element of the site is the payment form. Without it, customers would not be able to checkout and complete their purchases, which is what any online business wants their site visitors to do. This is why investing time and resources into a payment page builder is crucial.

A hosted payment page can make a world of difference in improving your sales and bounce rates. While many business owners choose to simply put a PayPal link on their checkout page, they’re missing out on a big opportunity to generate better returns. Many customers fail to understand how PayPal works or don’t want to create an account, preferring to utilize other more familiar payment methods. 

The Trick To eCommerce Sales? Reduced Friction During Checkout

The general rule of thumb with eCommerce is that when people access the payment form, you will want them to have the fewest steps possible. This reduces the chances of them putting extra thought into their order and abandoning the cart. The more steps you place on your payment page, the less likely people are going to continue placing their orders. 

Here are some steps to reduce bounce rates and keep people from receiving friction when transacting with your business:

Explore Hosted Payment Pages

If you are spending your resources on getting people on your website, it doesn’t quite make sense to send them elsewhere when it is time to pay. This is why using payment forms like Stripe is amazing. Stripe offers amazing customizability and integration with your website. This payment form is best used because it is all done on your site’s domain, without bringing up external windows as PayPal would. 

It also looks much nicer than just slapping on a PayPal button, as the whole user interface can be customized to fit your business’ theme and needs. 

Multiple Payment Methods Are Always Welcome

In today’s world, people pay for their purchases using a variety of methods. If a business only has one kind of payment method available when it is time to checkout and their preferred one isn’t available, there’s a chance they will abandon their cart. To continue generating revenue and keeping sales at a high, be sure that payment methods are available, from credit cards to installment payments for more expensive items. 

Offer Checkouts Without Needing An Account

A good way to have a high bounce rate at checkout is to mandate people to create accounts to be able to check out. People do not appreciate having to take additional steps in order to buy something they are unsure about purchasing a second time. This makes it more likely that people will abandon their carts and leave you with fewer sales. 

By making the account creation suggested but not mandatory, you can ensure that people who want to just try out your products will think less about buying and go through with the purchase. 

Make The Whole Site Look And Feel Legitimate

Many people rely on the look and feel of a website, which includes everything from the homepage to the payment form. If you are investing in website design, it only makes sense to also invest in a payment page builder to make the checkout process give off a legitimate feel. With all the scammers on the internet, people are very skeptical about online purchases. Ensuring your website has a high-quality payment form will be a huge plus. 

Choose a good hosted payment page that has certifications for SSL encryption, as well as complying with the PCI SSC standards for maximum safety. 

Conclusion

A hosted payment page is integral in any online business website’s success. Having it well built and running smoothly will convert multiple leads into followers. By reducing your payment form’s friction rate, this will ensure better sales over time, as more steps entail more room for second thoughts. 

Payment Page aims to assist international businesses of any scale craft easy-to-use and highly customizable payment pages using apps like Stripe checkout. If you want a better way to run your business’ checkout pages, sign up for our services to be notified when we launch. 

Categories
Marketing

What Are Some Top Strategies for Conversion Optimization?

In any online business, one of the greatest indications of health is a good conversion rate. When people convert from being leads into clients, this is where the real revenue starts to come in for a company. Conversions are the goal of all advertising and digital marketing campaigns, and once people start converting from leads, this allows for better growth overall.

Digital marketing methods combined with e-commerce tools like payment page builders and hosted payment pages can create a powerful online business site. Digital marketing tools build websites and increase online visibility, which can be coupled with a hosted payment page for reduced checkout friction for best results. 

Optimizing Your Site For Conversion Rates

There is what is called a conversion rate optimization plan, or a CRO, which aims to improve the overall buyer’s experience of users and the performance of a website. This is a good mix of a multitude of tools that exist to create seamless websites that are tastefully done to fit the user experience. 

Your CRO plan should have the aim to reduce friction, which is the most important driving force in securing any sale online. Friction when it comes to finding your page, navigating it, and checking out will increase bounce rates, which won’t do your Google rankings any good. 

Here are some CRO strategies to boost your overall conversion rates:

Take Advantage Of The “Feeling Of Missing Out”

Many people are susceptible to this marketing tactic. Shoppers love to see items on sale, and when they see that there are timers for sales or specific dates, they are less likely to think twice about confirming their purchases. While many people hate being rushed into a sale, putting limited time offers out there for them to decide on their own will likely result in an urgency to buy. 

Make people feel like they’ll regret not taking up the offer you set out, which you can employ in your website through writing a call-to-action that states how limited the offer is. 

Make Sure Your Payment Page Has Fewer Steps

People hate loading through multiple pages especially when all they want to do is buy a product. Payment page builders are great at this, as sites can be customized to have a set number of pages they have to go through to complete a purchase. Stripe checkout is especially great at this, as it looks legitimate in user interface while offering maximum customizability. 

When your payment page has fewer steps to complete before making a sale, this reduces bounce rates that are bad for your website’s online visibility. One thing that gets people irritated more than anything is the mandatory creation of an account to make a purchase. By reducing the steps needed while keeping everything streamlined, you’ll see your conversion rates rise! 

Think Of How Your Site Is Optimized For The Best User Experience

One of the biggest sins in website design for conversions is not optimizing a site centered on the user’s experience. At the end of the day, the one who will be using your site to buy is the customer, so it makes sense to give the best-optimized experience for your site visitors. Remembering that customers mostly access sites on their mobile devices should make you prioritize the mobile experience of visitors to ensure they stick around long enough. 

Conclusion

The overall CRO plan has the idea of being seamless in all aspects of the browsing and shopping experience. With a nicely designed website and the help of a payment page builder, the entire shopping experience can generate better conversions over time. In any business venture, it pays to have a plan for all aspects of running one, and this now includes making moves online. 

Payment Page aims to assist international businesses of any scale craft easy-to-use and hassle-free checkout processes using apps like Stripe checkout. We believe that the biggest factor that hampers an e- commerce store’s ability to sell all over is the lack of proper payment page builders, which is why we are here to help. Sign up on our website now to be notified when we launch our services.