Online Payment Common Mistakes That Affect Your Business

Ways To Manage Your E-Commerce Risk

Have you ever noticed that customers added items into their carts but they never bought it, instead, they just left your website. If yes, you’re probably did something wrong. Online merchants face the risks of losing their customers and sales by making common mistakes with online payment processing on their website.

These are the common mistakes that usually affect your business.

1. Redirecting customers

Imagine yourself in a store, about to make a payment for your goods at the cashier counter only to be told you need to go to the neighbour’s store to pay. Wouldn’t you feel irritated? Your customers will feel the same too.

Redirection is a usability violation and not only it can push away your potential customers, it will also give your competitor an advantage. Exploiting your weakness, creates a solution and your customers surely going to leave you. Furthermore, redirection kills customer loyalty by pushing them to another website. No, you do not want that. You want them to stay on your website all the time.

Keep in mind, without redirection, customers tend to spend more time on your website and indirectly create a possibility to make more purchases. An easy and sufficient checkout payment is what online consumer seeks.

2. Forcing customer to create an account

It sounds like a doable thing and should not be that hard but believe it or not, it is hard and inconvenience. Requiring an account, especially when a customer only want to buy just one item quickly, it is a recipe for disaster.

You may think it as this way, buying process is prolonged due to this. Resulting customer to lose patient because time is not a privilege that everyone has. Out of frustration, your customer will just leave your site along with the product that they wanted to buy.

Take note that when you force people to create an account, each of them feel frustrated and 30% of them don’t even bother to continue their intention. This is proven by a test carried by Smashing Magazine. Another crucial thing that you have to take into account is when there’s a high possibilities that your customer already has more than enough accounts. They don’t need another one.

3. Too much information required

Sometimes less is better. In this situation, information is very crucial. There is no deny, information is important because it’s the source of confirmation, validation and legitimacy that online payment depends. But no one likes nosey people especially a long payment form on the website asking for information.

Every extra fields is just going to make the customers lose their interest so it is better if the form is short. Only essentials information are need for example card number, expiration date and customer full name or identification card number. Hence, find a payment gateway that will make checkout as easy as possible.

Customer’s experience is very crucial in online payment. Every step determines whether the customer will be a buyer or just visiting your website.

With that being said, do not ask them for information that doesn’t make any sense or potentially be a pointless question that will just waste their time.

To discover how Razer Merchant Services can help you expand your payment options and increase sales, schedule a free appointment with our team today.

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