Don’t you want to maximize the sales and conversions of your e-commerce business? Let us help you explore how you can do it better here.
Today, we are living in a digitized world, where e-commerce brands are growing at a stellar rate. If you own an ecommerce business, it has become vital to check your online business strategy, especially the checkout process.
Optimizing your payment page is paramount for the success of your business, as they can directly impact your sales volumes and conversions. Research by Baymard Institute has covered that well-designed and streamlined payment pages can achieve a boost in customer conversions by 35%.
Here are some of the ways you can optimize your payment page for better results on your performance and revenue.
We know you have taken help from alternate payment providers so that your customers have more than one way to complete the purchase during the checkout. Check out the following actionable tips that help you improve your checkout page and increase the chances of converting website visitors.
Improve your payment design page
Start with enhancing your payment design page. The better the design and the interface, the more your customers are likely to enjoy the checkout process. You should call for simple language, straightforward instructions, and clear labels that play an instrumental role in offering a seamless checkout experience. Additionally, your checkout page must be free from unnecessary elements so that your customers can easily navigate through it.
Reduce the length of the checkout form and the number of required fields
Customers hate to fill out lengthy forms. More fields in the form can slow down the checkout process and possibly dampen the joy of making a purchase. Research suggests that 17% of the customers abandon their shopping carts because the checkout forms were too lengthy. Even if the customer is paying through cards, it should typically consist of the below details, such as cardholder’s name, card number, expiry date, and CVV.
More payment methods of customers’ choice
If you want your customers to enjoy the checkout process, it is essential to offer them payment facilities they are comfortable with. It shall include traditional payment methods, such as cash on delivery or card payments, or wallet payments and so on. You can use alternate payment methods that will help to cater to the choices of your customers.
While you are offering a seamless checkout, ensure that you keep in mind the local and global payment procedures. For more information about alternate payment providers in the city, you can reach out to us. Our team of experts will be glad to assist you.
High Risk Merchant Accounts are most of the times subjected to a setup fee .The higher the risk associated with your industry, the higher the fees and charges for credit card processing.Various factors define the risk associated to your business like Industry, Location, Processing History, Processing volumes and Clientele.
For instance, stores that offer adult products are just as likely to be rated as high risk enterprises as those who deal firearms.The same holds true for travel services, telemarketers, bail bonds businesses, online auctions, and dating websites.Businesses that are placed in the Terminated Merchant File (TMF), also sometimes called the MATCH list, will also be considered high risk.Keeping in mind that the actual rates and fees you’ll pay depend on a number of factors, high risk businesses should expect credit card processing fees to start around 3.5% for an established business in a “less risky” high risk category.From there, costs can rise to 10% or more, with the highest rates coming for those in the riskiest industries or businesses using “offshore” payment gateway providers.
