Whether you own small brick and mortar antique store or the biggest online retail store, you need to understand the world of payments. In the end of the day, paying customers are what keep your business alive.
While there are many marketing techniques that can bring you more customers, who’s to say they’re going to take out that credit card and make a purchase. If you want to increase your chances of getting money from their pockets into your bank, you’ll need to do everything in your power to make payments easier for your customers. Here’s how to get started:
Eliminate Common Errors (Online Stores)
In the end of the day, you won’t be able to eliminate all potential drawbacks in your payment process. However, you need to make sure you take care of the common ones. These are a few to take note of and how to make sure your business has them covered.
- Compatibility: If you own an online store, it’s imperative that your website is compatible on all devices. Whether its an iMac, Tablet, iPhone, or Android you have to cover all the bases. It’s well worth the extra time and money spent on developing your website to be compatible with all devices. Just think about how many user’s you’re losing if you dont provide one of these options.
- Checkout Flows: If you’re an online store owner, you need to have a streamlined checkout flow. A common mistake made by online retailers is when they make customers create an account before purchasing. Remember the general rule of thumb is “less is more”, especially when dealing with payments.
- Analytics: Make sure to have good analytics set up when you begin to sell. Understand which pages get the most activity and where customers abandon their purchase. Utilize this data to better improve the efficiency of your payment process and overall business.
Stay Up To Date
In a world where new payment technologies are emerging daily, it’s imperative to stay with the times and optimize your store for new technology. The more knowledgeable you are about which processes are offered or what technologies are most used, the more you’ll be able to satisfy your customers. Here are some new innovations in payments that you should take not of.
- ePayments: The modern world is moving away from cash and payments cards and moving towards a digital economy. Due offers ePayments that allow you to seamlessly make payments completely online.
- eBank: The average consumer has multiple cards they use for payment, and often times they get difficult to keep track of. Due offers an eBank in the form of a digital wallet that allows customers to not only securely store financial information in one location, but also send and transfer money to other users on the platform.
- Contactless Payments: Many of these technologies work hand in hand. Contactless payments work great with digital wallets. Technologies like Apple Pay and Google Wallet allow customers to make contactless purchases from their phones in stores that accept these forms of payment. These wallets can also be integrated into mobile and online purchases as well.
These are just two simple ways to make the overall payments process easier for your customers. By implementing these strategies you’ll have a great foundation for your payments process. Remember to always stay curious, and continue to learn about the changing world of payments.