Rob Crutchington of Encoded identifies how merchants can streamline transactions, improve customer satisfaction and increase online sales.
The checkout experience is a key measure for merchants looking to improve their customer conversion rates. While a well-designed website and the right product mix are crucial, streamlining the checkout with successful transactions significantly increases sales.
Here are five ways that merchants can increase online sales:
- Offer customers a choice of payment methods
The new ways to pay ie, Google Pay, WeChat Pay and Apple Pay, all provide convenience, security and speed. With an independent payment gateway service provider a merchant can capitalise on these options by using a gateway that connects seamlessly to multiple acquirers. This enables the merchant to offer Alternative Payment Methods (ATMs) to improve customer experience.
- Streamline transactions
A payment orchestration layer takes this one step further. As a standalone platform (working independently of a gateway provider), it provides a resilient payment ecosystem that allows merchants to connect and manage multiple payment methods through a single integration. It optimises transaction success for a smoother, more reliable customer experience.
- Make sure customer payment details are accurate
Ensuring that transactions are processed efficiently, and ideally first time, reaps dividends on the bottom line. Choosing a payment gateway provider that offers detailed declined codes means that more specific information is available for unsuccessful payments. This can be followed up and actioned to increase transaction success.
- Expand across borders
Enabling customers from different countries to purchase online can increase revenue opportunities. An independent payment orchestration platform makes it easy to connect with third-party payment service providers via different platforms or merchant accounts. It helps a business to grow globally without significant infrastructure changes.
- Manage your online brand
To offer the best consumer experience, e-commerce pages should reflect a company’s look and feel. Choosing a payment solution that gives your website developers control of your e-commerce pages ensures consistent branding. It provides customers with a seamless experience and confidence they are buying from a trusted business.
For merchants wanting to increase successful transactions, addressing these five key areas will ensure frictionless payment processes, increased conversion rates and a satisfied customer.
Rob Crutchington is Managing Director at Encoded