Fraud Blocker
6 Ways to Improve Customer Payment Experience

6 Ways to Improve Customer Payment Experience

February 22, 2022

One of the top three reasons customers abandon their cart is the complicated checkout process that takes too long to make payments. With growing competitors, your business must level up in all aspects, most importantly, payment experience. In the age where customers can shop wherever and whenever they want, convenience is vital for the best customer experience.

very second counts and a seamless payment, digital payment, and user experience will blur the lines between shopping and paying. Before they know it, your customers will keep checking out more items from your shop because you make spending their money easy for their online payment experience. Let’s see how you can improve your customers’ mobile payment experience with these six methods.

1. Simplify the Payment Process

Most shoppers are impulse-driven and make microsecond decisions on what they want to buy and where they want to shop. The checkout process is essential to keep more loyal customers, whether in-store or online.

To ensure you the best customer experience where customers are happy, create a payment platform that is fast and easy for them. For example, don’t force them to create a wallet account on your website to make purchases. You can also entice them to buy more by offering discount vouchers or points they can redeem.

2. Provide Multi-Channel Payments

Not two, not three, but provide as many payment solution methods as possible. Modern customers prefer cashless transactions for more popular payment systems but don’t neglect conventional customers who still bring cash. This can be tricky for sellers since they must reach out to several banks and financial institutions.

For this step, you may want to look into embedded finance API, which can help you access nationwide online and offline payments at once. But be aware that most customers have more than one bank account, multiple credit cards such as mastercard's, and several e-wallets.

3. Ensure Compatibility Across Devices

Brands with multiple digital channels should pay a hefty price for maintaining their sites/apps. Compatibility is a big issue because customers would leave the site or uninstall the app if it’s buggy or takes too long to enter their payment. This makes a terrible payment experience that will tarnish your brand reputation. Hire a team of reliable developers and designers, then use a refined finance API to manage online payments across all platforms and devices for better customer satisfaction.

4. Let People Know Their Payment is Secure

Juniper Research reports that e-commerce lost US$20 billion in 2021 from online payment frauds. Many brick-and-mortar companies rushed to move into e-commerce due to the pandemic, exposing data for scammers and hackers to rig. Meanwhile, customers are already aware of the many cases of online shopping fraud.

A well-rounded payment experience should be fast, easy, and secure to pay online. But how can you prove it to your customers? First, secure your payment process by getting SSL certificates to secure your payment data. This is a high priority as your business must be PCI DSS compliant to receive card payments. Talk to your payment or API provider. Once done, let your customers know by having the SSL certificates shown on your website or app. To make it extra secure, consider adding other certificates.

5. Provide Passwordless Authentication

A password can be easily forgotten by its owner and easily cracked by fraudsters. Requiring the customers to enter a password also means more time spent during the checkout process. For one-click payments, consider biometric authentications, such as face recognition and fingerprint scans. Additionally, provide instant access whenever your customers are logged in to their online accounts, such as Google, Facebook, or Apple accounts. So they won’t have trouble re-input their password whenever they want to shop at your store.

6. Implement automation

Recurring billing is one of the top purchases and arguably the most burdensome task online. Monthly bills to pay for electricity, telephone, water, and internet come in. Wouldn’t it be great to forget them without forgetting to pay them?

Here’s how automation can enhance the recurring payment experience. This feature allows customers to make recurring purchases and set the payment schedule, reducing friction in their daily to-do list. This will also mean they have to link their bank account to your website or app, enabling you to save their payment details and make the process for all their payments smoother.

Payment experience plays a vital role in your customer’s overall buying experience. Make sure to provide as many payment options as possible since each customer usually has different preferred payment methods. This way, you can reach many customers to shop at your business.