Imagine this:
You’ve got a business and you want to sell something. You set up a nice-looking website and make a sweet product. You even price it competitively. All that’s left is to get customers to click “Buy Now” and you’re golden, right?
Wrong.
Let me ask you a question:
How long does it take to lose a customer?
Go on. I’ll wait.
Scroll back up and take another look at your checkout page.
Count the steps. Notice all the form fields and payment options.
Now I’ll tell you how you lose a customer in 4.2 seconds flat.
You make them jump through hoops at checkout.
Every additional form field, every confusing step, every payment method not listed… It all adds up to one thing:
Lost sales.
Here’s the kicker though…
The average cart abandonment rate is 70.19% in 2024. That means 7 out of 10 shoppers are walking away before checkout!
The good news?
It’s fixable. Seamless payment processing can turn the checkout experience around. If businesses invest in building frictionless payment experiences, customers will actually enjoy buying from them.
So In This Post We’ll Look At:
- Why payment processing matters for CX
- The real cost of checkout friction
- How to build a frictionless payment experience
- Payment methods to keep customers happy
Why Payment Processing Matters for CX
Payment processing is the last step of every purchase.
The sad truth?
Businesses royally mess it up.
Think about it…
Someone has been shopping around and finally found the perfect product. They click “add to cart” and they’re ready to buy. Then they’re confronted by a clunky checkout page that:
- Asks for more information than is necessary
- Doesn’t have their preferred payment option
- Takes an eternity to load
Guess what happens next.
Yep, they leave.
That’s why payment processing is so important to customer experience (CX). It’s the last impression you make on a customer before they complete the transaction or walk away.
Most providers of business payment processing solutions understand this, like Adaptiv Payments for example. They know modern customers expect fast, secure, and flexible payment options. Without that, you can have the slickest products and best services and still not convert browsers to buyers.
The key here…
Payment processing isn’t just about the money changing hands from point A to point B. It’s about creating trust. It’s about eliminating friction. It’s about building confidence in customers that this transaction is safe and easy.
Make that part of the buying experience great and customers will return. Make it bad and they’ll never be back.
The Real Cost of Checkout Friction
Checkout friction is checkout death.
The reasons?
Plenty of them. The big ones include:
- Long or complex checkout processes
- Customers can’t find their preferred payment method
- Checkout pages don’t feel secure or familiar
- Hidden fees or costs get revealed last minute
But it runs deeper than one-time lost sales…
Customers who have a negative experience at checkout don’t come back. They vent to their friends. They write bad reviews. And one negative payment experience can lead to serious reputation damage.
The solution?
Streamlining, streamlining, streamlining.
Modern payment processing solutions can get rid of the friction points. One-click checkouts, multiple payment methods, and secure transactions customers recognise and trust help solve these problems.
How to Create a Frictionless Payment Experience
Creating a smooth payment experience isn’t rocket science. It does take attention to detail though.
Start with the basics…
Simplify the Checkout Flow
The fewer steps, the better.
Every additional form field or page click is another chance to lose customers. Checkout should be effortless.
Guest checkout options are a must. Mandatory account creation before checkout turns away 26% of potential buyers. Make it easy for customers to buy first, sign-up later.
Offer Multiple Payment Methods
This is a big one most businesses get wrong…
They assume everyone uses the same payment method as they do. But customers have wildly different preferences. Credit cards work for some. Digital wallets like Apple Pay or Google Pay work better for others. Buy-now-pay-later services are booming too.
Flexibility is key. Offer a range of payment methods so customers can pay how they want with no friction.
Prioritise Mobile Optimisation
Mobile is huge. And mobile cart abandonment rates are higher than desktop… sometimes over 85%.
Why?
Bad checkout pages aren’t optimised for smaller screens. Buttons too small to tap. Text hard to read. Forms clunky and difficult to navigate. Mobile shoppers experience these pain points constantly.
Mobile-first payment processing solutions mean customers can complete purchases smoothly on any device.
Build Trust with Security
Security isn’t an afterthought. It’s a must-have.
Customers need to feel their payment info is safe. Security badges, trusted payment gateways, tokenisation and encryption all play a part.
When customers know a business has their back, they feel confident completing the purchase.
Payment Methods to Keep Customers Happy
Payment methods have changed a lot over the years. Businesses that adapt to these shifts come out ahead.
These are the payment options driving customer satisfaction today:
- Digital Wallets – Apple Pay, Google Pay, and the like. Speed and convenience are their hallmarks. Customers tap to pay and the transaction is done. No need to manually type in card details.
- Buy Now, Pay Later (BNPL) – Flexible payment methods. BNPL services have exploded in popularity over recent years. Customers love them because they spread the cost over time.
- One-Click Checkout – Returning customers are sick of re-entering their details every time. Payment information is saved and one-click options remove friction almost entirely.
- Contactless Payments – Physical retail isn’t the only place where contactless payments have become standard. Customers expect to use this functionality everywhere now.
Businesses that offer these payment methods will have higher conversion rates and happier, repeat customers.
The Competitive Advantage of Great Payment Processing
Payment processing used to be an afterthought. Now it’s a competitive advantage.
Customers have more choice than ever. They’ll buy from whoever makes the experience easiest. Clunky checkout = straight to competitor with a smoother process.
But when it’s seamless…
Customers finish purchases quicker. They trust the business more. They return again and again. Customers recommend them to others.
There’s the power of good payment processing.
Bringing It All Together
Seamless payment processing has a direct impact on CX, conversions and revenue.
Businesses that prioritise investment in modern payment processing solutions set themselves up for long-term success.
Quick recap:
- Checkout friction causes conversions to plummet
- Streamlined checkout flow makes customers keep moving forward
- Multiple payment options suit diverse customer preferences
- Mobile optimisation reaches growing mobile audience
- Security builds customer trust necessary for sales
Customer journey doesn’t end when they click “add to cart”. It ends when the payment goes through. Make the steps between as smooth as possible and customers will reward you with loyalty, repeat business, and positive word-of-mouth.
That’s the real value of seamless payment processing.
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