Last year, the Covid-19 pandemic changed the way we shop due to the restriction in traveling and movement as well as the implementation of the social distancing policy. It is why e-commerce transactions are gaining popularity these days, and customer demand is expected to increase in the future.
Recently, there are more and more businesses planning to invest in technologies that speed up online payment. Are you interested in getting some cool tips on speeding up the payment process on your website? We have got you covered!
This article gives you the best ten simple tips that can be applied right away to bring your business to the next level.
Top 10 tips to speed up the payment process on your website
1. Take advantage of the autofill feature
Customers usually have to fill in their details at the checkout that takes a long time to complete, leading to an increase in cart abandonment rates.
The solution to this problem is to enable an autofill feature for all payment information on your website to speed up the payment process.
According to a study, Claire Johnson, a customer service specialist at Flatfy, claims that only 20% of people can remember their credit card information. Thus, autofill allows customers to make payments in seconds. So, customers don’t need to waste time searching their wallets and entering credit card details each time.
You can require customers to sign in before purchasing if they already have an account with your website. By using this way, the detailed information about their name, address, phone number, and other personal information that they provide during registration will be automatically added during checkout, which saves them time.
Udemy, an online educational platform, provides an auto-complete option for all regular users when they purchase a course, guaranteeing a complete payment to the end.
2. Allow payment process without an account
As mentioned above, there are some benefits to requiring customers to have an account on your site. In particular, they can take advantage of the autocomplete feature during checkout.
However, not all customers want to open a new account on your platform, such as those who intend to make a one-time purchase only. Requesting customers to sign up for an account takes them one step further, slowing down the payment process, and ultimately causes them to reconsider the decision on whether they want to keep buying your products or services.
The best solution is to include both login and guest checkout options, allowing customers to shop without account registration.
Office Depot is an excellent example of incorporating both features on its website. Guests can still purchase products without registering but must create an account to use their rewards.
Another example is Apple’s website that allows instant checkout for guests, making shopping easier and more convenient.
3. Include a number of payment methods
Another factor that affects the payment process is that your website doesn’t offer enough payment methods. Most e-commerce businesses only focus on one or two popular payment systems like PayPal or AliPay. As a result, some of your potential customers may delay payments because they did not access these payment methods at the checkout.
Data shows that 56% of respondents would like to have multiple payment options on the checkout page, so it is crucial to meet all your customer needs by diversifying payment solutions.
In this case, it is convenient to introduce some alternatives, such as Apple Pay, Google Pay, or Amazon Pay. Although they are not as popular as credit cards or PayPal, these options can be used as an intermediary for credit and debit cards, bank accounts, and online transactions for anyone who doesn’t want to fill in any additional forms.
For instance, Mindmeister, an online mind mapping software, allows users to pay with several different types of credit cards, PayPal, or a coupon.
4. Ask for essential information only
Some websites require buyers to provide unnecessary information such as their full name, location, date of birth, etc., in addition to the payment details to keep track of their customers.
However, this is another bureaucratic hurdle for the customers that reduces the conversion rate. According to Forrester’s Research, 11% of US adults abandoned the payment process before paying because these websites asked for too much information.
The average customer is becoming even more demanding these days, so you should ask for essential information only to avoid losing customers and have higher customer satisfaction. If you need additional information, such as your customer’s phone number, remember to explain why you need it.
5. Use cutting-edge payment software
There is another solution to simplify and speed up the payment process. You should forget about the traditional approach and use AccountDock, an advanced payment software with modern features that can save you much time managing payments and ultimately change your company’s financial position in a positive way.
First of all, by installing this software, there is no need to send invoices to your customers manually because all the receipts will be sent directly from the system to your client’s emails, and they can also manage their invoices if they want.
Another best thing is that AccountDock automatically generates emails to remind customers of unpaid invoices after a certain period, which is very convenient. So, no effort and time are required to track the delayed payments.
Take advantage of these features, and you will quickly see the effect. The software helps to reduce the time you spend managing your orders and improves relationships with customers by allowing them to manage all receipts themselves.
6. Highlight errors
According to an infographic from Invesp, one of the top ten conversion killers during checkout that causes your website to lose customers is submission errors.
It is usual for customers to make mistakes when entering data, such as filling in the wrong postal code or forgetting the “@” sign in their email address. Your task, in this case, is to point out the error and request updated information.
Some websites display an error message at the top of the checkout page, but customers then have to scroll up to see what happened, which can be confusing at some point. Ideally, your website should display messages in the field where the mistakes occurred.
Moreover, nothing is more frustrating than resubmitting all the information after filling a long-form because you made a stupid mistake. Another tip that will make it easier for customers during the payment process is automatically saving the information they submitted.
For instance, Spotify automatically saves the data submitted by their users and displays the error message in red with a clear explanation. This way, users can quickly notice their mistakes and correct them immediately.
7. Avoid redirecting
E-commerce businesses often use PayPal as their online payment platform. However, the main disadvantage of PayPal is redirecting customers from your website to the PayPal website in order to complete the transaction. While this payment method is safe to use for both businesses and customers, it can affect the speed of the checkout and some customers’ purchase decisions.
Flatfy, an international real estate company, reported that 15% of their clients do not complete a payment because PayPal redirects them to its website.
Most of the concerns can come from people who do not fully trust the online payment systems and are suspicious about entering another website to make a payment. Moreover, customers can also raise a question about which parties they should contact if any issues occur.
Therefore, this matter can lead to more abandoned carts, lower website conversion rates, and less credibility in your business.
So, since redirects cause so many problems that delay the payment process, providing various payment options that do not require redirecting to another website can be an excellent solution to speed up the transactions on your website.
8. Don’t forget to show trust signals, badges, and seals
When it comes to personal data, be sure to show all the security measures necessary to safeguard your customers’ information and privacy.
As reported by eConsultancy, about 58% of participants left the payment page because of issues about the security of payments.
Displaying prominent payment trust signals and logos on your checkout page gives customers peace of mind through the payment process. It also makes them more confident in the platform they use to purchase and the website’s security. If clients do not feel safe with their financial and personal information, they will not buy anything on your website.
SSL (Secure Sockets Layer) is an internet security protocol based on encryption that you may want to use on your site to reduce the likelihood of credit or debit cards being stolen.
Moreover, you may want to comply with the PCI Security Standards Council (PCI SSC) standards, which were created to increase control over cardholder data to reduce credit card fraud. PCI Standard is mandated by payment card brands, while the Council manages the security standards for everyone who stores, transmits, or processes data from the cardholder.
For example, MindMeister shows their security credentials with SSL and PCI badges and displays the number of users they have to convince people that others are also using their service.
9. Minimize distractions
According to a study by Microsoft in 2000, the average attention span of a person is only twelve seconds. That number has decreased to around eight seconds 20 years later. Thus, it is understandable that maintaining customer attention is one of the biggest challenges faced by digital marketers.
Minimizing distractions along the customer’s path to finish the purchase is critical to overcoming this matter.
It’s commonly understood that the checkout page is the final and vital step to capture sales for your business, and you don’t want anything to distract them from completing the checkout. So, you should have a clean and transparent payment process with limited distractions as much as possible.
By removing any advertisements on the checkout page, you can ease your customers in making the final payment, reduce the checkout abandonment, and raise the revenue of your business.
Also, you can consider removing any unnecessary buttons to keep customers on track and focused on following through to the end of the process.
For example, you can take a look at the checkout page of Kissmetrics company. They drop the navigation at the top and ask customers only essential information to help them stay focused on purchasing.
10. Optimize your calls to action
Remember, don’t let your customers wonder what to do next. The call to action is a crucial element on a website to clarify to potential customers which action they should do in the next step.
There are some tricks here to optimize your calls to action.
First of all, you should remember to place your calls to action in the right places on your platform. Please don’t put it randomly at the bottom or above of your website. It should be placed where it makes sense to give customers ample opportunity to click through and make a purchase.
Second, another trick that you should make sure of is to avoid generic words such as “Continue”, “Buy now” or “Try me”, which aren’t too effective. Instead, you should make the call to action text more specific to ensure that your customers notice and follow, such as “Continue to checkout” or “Continue shopping”.
Some large e-commerce companies like Amazon use clear and specific calls to action “Place your order”, “Add to Basket” or “Proceed to checkout” to guide their customers from the shopping cart to continue the payment process.
With the popularity of eCommerce due to the pandemic, consumers are also becoming more demanding. They can easily switch to other online websites if they don’t have a satisfying shopping experience. This is why it is so important to speed up the payment process on your platform.
Here are best 10 tips that you can do to speed up the payment process on your website:
- Use autocomplete
- Allow guest check-out
- Offer various payment methods
- Request only necessary information
- Use cutting-edge payment software
- Highlight errors
- Avoid redirects
- Display trust signals, badges, and seals
- Minimize attractions
- Optimize your calls to action
Follow the tips above and it will not only increase your business revenue but also create a pleasant experience for your customers.
So what are you waiting for? We’d love to hear your thoughts on these tips in the comment section below!