How can businesses make the payment process easier for online customers, and why does it matter? The answer lies in simple facts: nearly 40% of Indians used digital payments in 2020, and the number is set to increase to 47% in the next 2.5 years.
To put it simply, a business that wants to be a part of the multi-billion dollar e-commerce industry in India will have to embrace online payments. Introducing payment modes like UPI, digital wallets, net banking, Pay Later, and credit/debit cards have become critical for businesses to survive.
Moreover, it is of utmost importance that businesses ensure their payment process is the simplest for anyone to understand. For example, it must not be complex or require multiple steps, and should not redirect the user to a third-party page. To solve this, businesses can use payment links to accept payments and avoid third-party pages.
Ask yourself: Is this payment process simple enough for a 10-year old to navigate through?
If you find yourself hesitating, it might be time to revisit the payment process in place and make it easy to navigate through.
Here are some fundamental steps that can help businesses smoothen the payment process for the customers.
1. Offer multiple payment options
Businesses must try and offer as many payment methods as they can. From credit and debit cards to net banking, from different digital wallets to UPI modes and even newer credit payment options like Pay Later- customers expect a wide variety of payment modes on the checkout page. Any company must ensure that customers do not leave the website due to a lack of their preferred payment mode.
It is equally essential for online businesses to understand their target audience and incorporate payment modes into their website. Using advanced features like payment links allows customers to pay at their convenience.
2. Allow guest payments
When customers are forced to make accounts on a website to complete the transaction, they are likely to abandon the purchase since the process can feel unnecessarily long.
With customers having to deal with several online accounts, the last thing that they want is to add another set of passwords that they need to remember. This can also hinder many customers from completing the payment.
This makes having the facility of allowing guest checkouts extremely important. Another way is by giving the customer the freedom to create an account for future purchases or proceed with ‘guest checkouts.’
3. Incorporate a seamless user interface
It is 2021, and branding is the key to making a business stand out among others.
Brands need to be consistent in the website design, from the font and logo to the design and the colour palette, especially on the checkout page. Customized payment gateways simplify this by allowing businesses to design the checkout page with the brand color scheme.
There is also an option of incorporating the logo on the payment gateway, which can help avoid scepticism if the checkout page looks different from the website. Increasing brand awareness this way can also help businesses enhance brand loyalty and retain customers.
4. Stop redirecting customers to third-party pages
When customers are redirected to another web page to complete the transaction, it raises suspicion of fraud for the average customer. In addition to this, it moves the customer away from your website or app and reduces the online store’s brand visibility.
In addition, customers end up paying on a website they have never heard of, which can alter customer satisfaction.
Payment gateway providers like Zaakpay ensure that the customer is not redirected to any other page, and the transaction is completed on the merchant website seamlessly. Zaakpay’s payment links work similarly by ensuring that the transaction takes place on the merchant’s website.
5. Avoid distractions
The payment gateway is the final step in the order fulfillment process. Therefore, it is super important for businesses to ensure minimal distractions on the payment gateway.
The digital era has reduced our attention span significantly; the last thing any online business wants is for the customer to get distracted by an advertisement on the checkout page. Once the customer lands on the payment gateway, the goal must be to expedite the payment as fast as possible to avoid losing the customer’s attention.
This is where Zaakpay comes in. Zaakpay offers affordable payment gateway charges and premium features that keep the checkout page as clean as possible. With a clean UI, brands can rest assured that no third-party content on the payment gateway distracts the customer.
6. Incorporate ‘Call-to-action (CTA)
Businesses must keep the average customer in mind when formulating a payment process. Leaving instructions on the website is a great way to avoid customers guessing what they have to do next to place an order.
CTAs can work effortlessly to solve this problem. The use of crisp and precise terms like ‘continue shopping, ‘click to pay, ‘go to the cart,’ ‘place an order,’ ‘add to cart’ help guide the shopper and assist them in making the simplest of payments.
CTAs also become crucial when merchants use payment links. When customers click on a link, they must not feel lost and have cues to help them through the process.
It is critical to understand the payment gateway charges and look for features like these in the service provider.
The deal is not sealed until the money exchanges hands and settles into the merchant account. Payment gateways facilitate this exchange and must be simple to use, easy to navigate, and designed to keep the cart abandonment rates low.
Zaakpay’s payment gateway makes the payment process effortless for customers by providing a user-friendly platform and facilitating secure transactions.