By Julia Olson
4 Simple Steps to Improving Your Payment Experience
As a business owner, the last thing you want is for a customer to have any barriers to purchase. This might mean making your website easier to find on the web, tailoring the layout of your store to the psychology of shoppers, or even adding special incentives or promotions.
One barrier that a lot of business owners don’t think about, however, is the payment process. Even if the customer has already decided to buy from you, a clunky payment experience could deter them at the last moment, and unnecessarily losing business.
Here are 4 simple ways you could improve your payment experience, no matter what type of business you own, to increase your sales and grow your business.
Accept the Payments Your Customers Want to Give
Let’s take a look at a hypothetical bakery. This bakery has a brick-and-mortar location, online store, and catering orders. Although this is all one business, each section requires it’s own unique payment experience. If they’re working with a bride on her custom wedding cake order, it would be an inconvenience to ask her to come to the brick-and-mortar location to pay an invoice by check or credit card terminal when she would probably prefer to simply do it online.
More and more businesses are becoming omni-channel, meaning they have multiple aspects of their business requiring multiple payment methods. In order to create the best experience for all of your customers, regardless of how they’re interacting with your business, you need to ensure you’re meeting their payment needs.
A recent report by ACI Worldwide and Ovum stated that 75% of organizations say that consumers are expecting more payment options than what merchants are offering. This is a great opportunity to get ahead of the curve as a business owner and innovate in an industry that desperately needs an upgrade. A lot of businesses are still operating on clunky, 40-year-old systems while their customers are quickly adopting new and exciting online and mobile technologies.
Keep it Simple
The less you ask your customers to do, the better. This is especially true when it comes to making online payments. Customers don’t want to have to leave your sight or have extra login credentials just to make a payment on an invoice or purchase an item. It’s always a good idea to keep them within one comprehensive system when moving them through the payment flow.
This is why having a completely connected experience is essential. You may have an outstanding invoice with a client who is currently at your office willing to give payment. Being able to send that order information to a physical terminal and swipe is card right there not only takes the pressure off of the customer but simplifies your reporting and data tracking as well.
Make Security a Priority
When a customer makes a payment online, they are putting their trust in you to have a secure and reliable system. It’s important to reassure your customers that their sensitive information is being taken care of. You can do this simply by adding a badge or logo to your payment form that says “Secure” or “Protected”.
More importantly, however, make sure you partner with a payment processing company that takes security seriously. If you’re accepting online payments, make sure your customer’s payment information is tokenized and stored securely. While you’re shopping around, make sure to ask these questions before you sign on the dotted line.
Create a Branded Experience
This last tip benefits both you and your customers. Making sure your logo and brand elements are present throughout the payment processing creates a complete end-to-end experience for your customers. This evokes a sense of confidence in their purchase, your security, and the decision they made to purchase from your company.
Not to mention the marketing and awareness benefits that come with the constant presence of a logo. The more your customers are exposed to your brand, the more likely they are to remember you the next time they need your product or service. You can kick it up a notch by adding your social media information and encouraging your customers to engage with you online after their purchase.
At the end of the day, this is all-important in order to attract and retain your customers. Consumers remember which companies are easy to work with and which aren’t – and crafting a customer-focused payment experience builds trust with your audience. You want people to come back for the experience, not just the product or service.
Fattmerchant offers a full line of payment technology solutions to help you integrate your payments and create the perfect experience for your customers. Give us a call at 855-550-3288 or contact us today to talk to a payment consultant.Tags: brand, merchant services, payment experience, payment processing, payment tech, payment technology, payments