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How To Speed Up Payment Process On Your Website Amazing 10 Tips

The Covid-19 pandemic has changed the way we shop. Restrictions on traveling and movement and the implementation of social distancing severely impacted our ability to shop in-person. As a result, e-commerce transactions have been gaining popularity, and customer demand is expected to increase continually.

Recently, more and more businesses have been looking to invest in technologies that accelerate the online payment process. If this sounds like you, then we’ve got you covered.

Check out our ten best tips to take your online payment system to the next level!

Top 10 tips to speed up the payment process on your website

1. Take advantage of the autofill feature

Customers dread the time-consuming chore of filling in their personal details at checkout, from billing details to the shipping information. The longer they spend doing it, the more likely they are to abandon their cart.

You can avoid this by enabling an autofill feature for all payment information on your website to speed up the payment process.

According to studies, only 20% of people can remember their credit card information. Autofill inputs information automatically, so customers don’t need to waste time re-entering their credit card details each time.

Customers with an existing account on your website can sign in before purchasing and automatically load detailed information such as their name, address, phone number, and other personal information they provided during registration.

For example, 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

While there are some benefits to requiring customers to have an account on your site, not all customers want to open a new account on your platform. Requesting customers to sign up for an account takes additional time, slowing down the payment process, and ultimately causes them to reconsider purchasing your products or services.

The best solution is to include both login and guest checkout options, allowing customers the option of shopping without an account.

Office Depot’s website is an excellent example of incorporating both features. Guests can still purchase products without registering but must create an account to use their rewards.

Another example is Apple’s website, which allows instant checkout for guests, making shopping easier and more convenient.

3. Include several payment methods

Another factor that can affect the payment process is the number of available payment methods. Many e-commerce businesses only offer one or two popular payment options like PayPal or AliPay. As a result, some potential customers may reconsider their purchase because they do not have access to these payment systems.

Studies have shown that 56% of consumers prefer having multiple payment options to choose from. That is why one of the best ways to boost your customers’ shopping experience is by diversifying payment solutions.

Some of the most popular alternatives include Apple Pay, Google Pay, or Amazon Pay. 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, and even coupons.

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 too.

While this data can provide useful insight into your customer base, it simultaneously creates an additional hurdle for customers, negatively impacting your conversion rate. According to Forrester’s Research, 11% of US adults abandoned the payment process before paying because websites asked for too much information.

Customers are paying more attention to their privacy these days, so you should only ask for essential information to avoid losing customers and improve 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

If you’re looking to truly boost your payment process, forget about the traditional approach and use AccountDock, an advanced payment software with modern features that can save you time managing payments and ultimately change your company’s financial position in a positive way.

This software allows you to automate your invoicing process, send receipts directly to your client via email and allow your clients to manage their own invoices independently.

Another great feature is that AccountDock automatically generates emails to remind customers of unpaid invoices after a certain period. Tracking delayed payments has never been so easy!

AccountDock helps to reduce the time you spend managing your orders and improves relationships with customers by allowing them to manage all receipts themselves.

AccountDock powers your business’ billing history

AccountDock powers your business’ billing history

6. Highlight errors

According to an infographic from Invesp, one of the top ten conversion killers during checkout is submission errors.

It is highly common 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 re-submitting all the information after filling a long-form because you made a mistake. Adding a function that automatically saves customer-inputted information during the payment process can smoothen out this issue.

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 that it redirects customers from your website to the PayPal website to complete the transaction. While this payment method is safe to use for both businesses and customers, it can be a time-consuming process.

Flatfy, an international real estate company, reported that 15% of their clients do not complete their payments because PayPal redirects them to its website.

Most of the concerns can come from people who do not fully trust online payment systems and are suspicious about entering another website to make a payment. Moreover, customers can also raise the question of 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 for 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 that you are taking all of 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.

See more: Secure Online Payments: Everything Small Businesses Need To Know.

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 customers’ 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 overcome this matter.

It’s commonly understood that the checkout page is the final step to capturing 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 as few distractions as possible.

By removing any advertisements on the checkout page, you can ease your customers into making the final payment, reduce 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, 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 (CTA) is a crucial element on a website to clarify to potential customers which action they should take in the next step.

There are some tricks here to optimize your CTA.

First of all, you should remember to place your CTA in the right places on your platform. Don’t put it at the very top or bottom of your website. It should be placed where it is most visible to give customers ample opportunity to click through and make a purchase.

Second, avoid generic words such as “Continue,” “Buy now,” or “Try me.” Consumers are largely desensitized to these frequently-used CTA’s, making them less effective. Instead, make the CTA 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 such as “Place your order,” “Add to Basket,” or “Proceed to checkout” to guide their customers from the shopping cart to the payment process.

Wrap up

With the booming 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 the best 10 tips that you can do to speed up the payment process on your website:

  • Use autocomplete
  • Allow guest checkout
  • 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.

We’d love to hear your thoughts on these tips in the comment section below!

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