The rising demand for online businesses has prompted online merchants to improve payment methods on their platforms. Most merchants add local payment modes and more currencies, but ignore user experience. This Macropay review will explore the importance of UX in online payments.
Merchants dedicate a lot of resources to aesthetically improving their platforms. However, little effort is often made to improve the user experience of the payment process.
After all, the experience of customers with the payment interface can make or break a sale.
Why Is a Great UX Important?
A majority of consumers abandon the shopping cart: the rate can go as high as 98 percent for cruise and ferry services to almost 88 percent for fashion items and 50 percent for consumer electronics.
While the experience with the payments process is not the only factor behind the abandoned cart items, an improved payment UX can help convert some of them into sales. Other areas where a payment UX can help are:
- Boost conversions: A good payment user interface can boost sales conversion by up to 400 percent, according to a market study. Thus, it can significantly improve the performance of the online business.
- Increase spending: A better payment can also push per customer spending on a merchant platform. A report by PwC revealed that 86 percent of customers are willing to spend more for a better user experience.
- Improve retention: Customers always tend to come back for good platform experiences. A survey found that a third of customers would not return to a platform with a bad experience.
- Strengthen brand value: A great experience with strategic branding always appeals to customers. A 2020 report suggests that customers link brand value with their experience on the platform.
How to Improve Online Payment UX?
Improving the experience of the product page and other areas of an online merchant platform is easy. But how does a merchant improve the user experience of the payments process?
Though the task sounds difficult, it’s the minor improvements that matter. Here is a list of areas where UX improvements will directly affect the payment process:
Reducing the Payment Steps
Merchants should carefully reduce the steps needed to complete payment. Business owners should only seek the necessary information from the customers. Unnecessary fields, even if not mandatory, add to the complexities of the customers. Further, merchants can use the auto-complete feature and save information for returning customers.
A clunky payment page design with ad banners and up-selling products is a BIG no. Merchants should follow a simple design for their payments page.
A simple payment page only with highlighted buttons and necessary fields definitely adds to the customer experience.
The payment process should be simple with clear instructions for customers. If there is an error in making the payment, the specifics should be highlighted without confusing error codes. Any confusion on the payments page immediately drives the potential customer away.
Branding is essential, but it should not be limited to displaying the logo of the merchant platform. The appearance of the familiar names and logos on the payments page boosts customer confidence in the merchant platform.
Some of the generic logos that a merchant can add to the payments page are:
- SSL certification
- Google trust scare
- Logos of Visa, Mastercard, and other payment processors
Merchants should place all of these brandings strategically on the payments page.
The cost and extra fees should be transparent on a platform. Fees like shipping costs should be highlighted properly before the product is added to the cart. No matter how small an extra cost is, it adds to customer distrust.
Even extra costs are one of the reasons behind abandonments during checkouts. Therefore, there are no surprises with added cost.
How Can Macropay Help?
Building a good payment user experience from scratch could be difficult and time-consuming. It needs trial and error, as well as incorporating customer feedback. However, it can be easily implemented with the services of a trusted payment gateway.
Macropay offers payment gateway technology built to cater to different industries. Simplify payments and improve customer experience when you integrate our payment gateway.
Reach us at [email protected] to know more about our service.