Why These 5 Ecommerce Payment Mistakes Could Be Costing You Sales

The payment page is the holy grail for all online retailers. However, far too many Ecommerce companies continue to miss out on sales by making common mistakes at this vital stage of the purchasing process.

Here are our top five payment mistakes that could be preventing you from converting visitors into sales.

How to Hack the International Payments Nightmare for Your Startup

  1. Asking for too much information
  2. The modern consumer doesn’t want to complete time-sapping long payment forms and often doesn’t like to give up too much personal information when they make a payment. Asking consumers to provide only the essential details will help you convert more sales, and the minimum you need is three pieces of information – card number, expiration date and security code. Keeping it simple is key to Ecommerce conversion.

  3. Taking visitors away from your site
  4. Visitors have come to your payment page because they’ve decided to buy from you. So taking them away from your site to complete the purchase can result in confusion and heighten the chances of them abandoning their cart.

    This occurs when using a hosted payment gateway, which redirects the consumer to the host’s site to enter their details and complete the purchase. Visitors are likely to question why they’re being taken to a website and will impact your conversion rates. Read this guide by Cardswitcher to discover how to choose the right payment gateway for your business.

  5. Forcing visitors to create an account
  6. Consumers increasingly like to buy from multiple providers or suppliers and, as a result, don’t want to have to create accounts with every single company. So requiring them to create an account with you before they make a purchase – especially if it’s a one-off quick-buy – is a sure-fire way of losing their business for good.

    Forcing consumers to create an account also extends and slows down the buying process, which can result in consumer frustration and make them less likely to want to buy from you again. Instead, allow visitors to buy items as a guest but encourage them to sign up for special offers and discounts.

  7. Not offering data security assurances
  8. Data security is more important than ever before with the introduction of stricter data protection regulations, such as the GDPR. As a result, consumers are more aware of data privacy and the need for their data to be secure during the checkout process and beyond.

    You therefore need to do your utmost to assure customers that their data is safe and secure. Ensure your payment form design is consistent across your website and remember to display security badges and your SSL certificate to assure visitors.

  9. Poor customer experience
  10. The online payment process is built on customer experience. No consumer will complete a purchase with a brand it doesn’t feel is trustworthy or that doesn’t make them feel wanted and valued. So if a consumer has an issue you need to be there to help, and help quickly.

    Always design your payment process from the customers’ point of view, test the process and amend any issues that might cause confusion or lead to visitors abandoning their purchase.

Secure more sales

In the competitive modern Ecommerce market you can’t afford to miss a trick in any area of the consumer relationship. Following these five tips will ensure best practices are in place to make the payment process as smooth as possible and not only see more sales converted but also see customers coming back for more.

FG Editorial Team
The Founder's Guide Team - Asian Associates with dynamic elements out to make a change.Thank you for visiting our site! If you do have any questions or inquiry, feel free to contact us through our links and please don't forget to follow our social media accounts. It would be our pleasure to help you in any way we can. Always Remember: "Proceed to Succeed". Hoping to hear from you soon!

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