Are payments a problem in your business? Unfortunately, this happens to businesses all of the time, and if they have no idea what to do to rectify the problem, moving forward is almost impossible. We don’t want to see this happen to you, as you don’t deserve to be stuck in endless issues with your payment process. In this article, we’re going to be taking a look at some of the different elements of sorting your payments once and for all. Ready to find out more? Feel free to read on.
Reducing Cart Abandonment
The first thing that we’re going to talk all about is reducing cart abandonment. This is where you employ a range of tactics to make sure that people who have added items to their cart don’t leave them and click off the page. Unfortunately, this is quite common for online stores, but as we’ve mentioned, there are ways to reduce the frequency that this happens.
One of the most important things for you to do is making checking out easy to do. You should be highlighting where to pay on the screen so that shoppers do not have to spend ages looking for the contents of their cart to then move to the payment gateway. You can learn more about reducing cart abandonment on various websites if you’re interested.
One Way To Pay? No Way
Another super common problem that businesses have is that they only offer one way to pay. While we understand that it’s easier for you to limit the payment options that you offer, it’s not convenient for your clients, and as such you will lose them. They will instead choose to go for someone who will offer them their preferred payment method, losing you a sale and helping out your competition.Â
So, you should be accepting the following, or as many of them as you can:
- Credit/debt card
- PayPal
- Apple Pay
- Google Pay
- Bank transfer
You can even go as far as to offer some buy now, pay later options such as Klarna and Clearpay to help those who are in a bit of a tough spot.
Storing Sensitive Information
When it comes to storing payment information, what kind of system do you use to keep the details safe? A lot of companies have used encryption now and in the past, but have you ever considered payment tokenization instead? This form of security changes a single digit in the details, meaning that even if someone did manage to break into the system and find the details, they would all be rendered useless.
Hopefully, you have found this article helpful, and now see some of the different things that you can consider if payments are a problem for your business. You need to get on top of this as soon as you can, before it becomes even more of an issue for your company. Identify the problems, and get them sorted so that your business can thrive once more.