Mobile payments weren’t viewed as a novelty for very long. When you consider that by 2020, mobile payment transactions would top $314 billion, that quickly changes. Vantiv’s research shows that 46% of Millennials and 41% of Gen Xers now utilize mobile payments, with 22% of Millennials routinely using mobile payments to make purchases. Simply said, mobile payments won’t disappear anytime soon. Therefore, it’s time to start accepting mobile payments on your eCommerce site if you want to get a piece of the mobile payment pie. However, have a look at these eleven suggestions first before you start accepting mobile payments.(ecommerce payment solution)
1. Be mindful of your demographics(ecommerce payment solution)
If your company caters to Millennials, you can expect that they’ll accept mobile payments, especially peer-to-peer transactions made through wallets like Venmo. They are, after all, the group with the greatest technological sophistication. Your internet business should therefore accept mobile payments.
Nevertheless, there is still a chance for you to take mobile payments on your eCommerce site even if your target market is older. Utilizing the mobile payment option is crucial. Consider that 22% of PayPal’s user base is 55 years of age or older.
2. Select the appropriate app or software.(ecommerce payment solution)
This is most likely the most crucial piece of advice when accepting mobile payments.
There are many excellent mobile payment choices, including our mobile wallet, PayPal, Square, Apple Pay, Samsung Pay, Flint, Checkout by Amazon, PaySimple, and Dwolla. Start by looking for choices that your consumers are already utilizing to focus your search. This is because they don’t need to open a new account and already trust the payment method.
In addition, you should consider things like processing costs and usability.
3. Permit Payments without Account Requirement(ecommerce payment solution)
Continuing from the last sentence. Allowing consumers to check out as guests will benefit them. They have to remember another another username and password, after all.
Additionally, this allays people’s concerns about the security of mobile payments, which are generally unfounded.
Additionally, given the smaller screen and keyboard of a mobile device that your consumers are using, filling out lengthy forms can be time-consuming. Again, clients can buy from you easily if you allow payments through Apple Pay, Amazon, or PayPal.
If you do need more information, limit it to the absolute necessities, like an email address and a payment method. Too many inquiries will lead to shopping cart abandonment.
4. Make Use of Loyalty(ecommerce payment solution)
“Your mobile device is now the place to go to gain more value for your purchase, whether you’re earning cash back, points, or getting deals and coupons through programs like our Discover Deals platform,” said Brian Meier, Director of Strategic Merchant Relations at Discover. “Consumers now have access to everything they need to reduce transaction costs or expedite the checkout process, while businesses profit from building stronger ties with their customers.”
The good news is that this may be easily put into practice. For instance, your consumer will receive several reward points for every dollar they spend at your store, which they can use to offset a future purchase. Giving your clients the possibility to win fantastic prizes like free products could turn it into a game.
5. Recognize various billing and payment choices
Customers use an average of 3.6 different payment methods every month, according to the 2016 Annual Billing Household Survey. Additionally, 42% of smartphone users said they had paid bills using their phone.
Do not restrict the types of mobile payments you accept if you want to enhance the consumer experience. Give people the option to buy something using their mobile wallet, a credit or debit card, an eCheck, or an eCash system like bitcoin.
6. Pre-Fill Places
Pre-filling will prevent errors and make the checkout process less unnecessary, as 82% of the highest-grossing ecommerce sites already do. You should, at the at least, have an auto-fill where, when paying, the address is automatically filled in. As it saves them so much time, it’s an easy approach to keep your consumers happy.
Designing CTAs that are responsive to mobile devices is another method to keep your consumers pleased. As a result, individuals can easily and swiftly complete the checkout procedure because they are aware of every step in advance.
Here are a few ideas for making your smartphone users’ CTA buttons more potent:
- Keep your communication brief and direct. They don’t need their smartphone screens cluttered.
- Use words with action to instruct your audience on what to do next and what will occur. The guessing game is over as a result.
- Remember to account for “the thumb zone.”
- Apple advises 44 x 44 pixel touch screen adaptations.
- Just use one CTA in each space, please.
- Your CTAs should be “stuck” at the bottom of the page.
- Make good use of color.
8. Prioritize security
As was already established, one of the biggest objections to using mobile payments is security. By placing a high focus on security, you may lessen their anxieties.
Here’s a reminder of what we covered in a prior Due piece regarding how to protect mobile payments:
- Encrypt any sensitive data you have.
- Implement a virtual private network.
- Downloading software should only be done from reliable sites.
- No rooting or jailbreaking.
- Keep your IMEI and MEID numbers private.
- Update the software on your device.
- Install antivirus program.
- Remember to check each transaction by:
- Requesting clients to submit their CVV number or security code.
- Confirming that the address used for address verification matches.
- Keeping an eye out for unusual purchases in client purchasing trends.
- Two-factor authentication being necessary.
9. Adhere to rules
Speaking of security, you must abide by a set of security requirements known as the Payment Card Industry Data Security Standard if you process any payments online (PCI DSS).
Visit the PCI Security Standards Council’s official website to verify that your eCommerce site complies with PCI security standards.
10. Train Your Employees
You must train and educate not just yourself but also your staff if you begin employing new technology. Start by explaining the technology to them. To begin with, when users of Apple Pay and Android Pay make a purchase, they are actually sending a “token” of data rather than their actual credit card number. Since the card number cannot be seen, this additional security measure deters potential fraud.
Additionally, neither Apple nor Android servers ever save credit card details or transaction history. It’s an additional security step to keep private information hidden.
Additionally, you want to confirm that your team is familiar with mobile payment processing. In this manner, if a consumer has a query or problem, your employees will be able to handle it right away.
11. Spread the Word
Finally, spread the word when you’re ready to begin accepting mobile payments. Explain in a blog post how customers can pay with a mobile device on your website. Additionally, make sure your website prominently displays the badges and emblems of the mobile payment methods you offer.
From an e-commerce standpoint, the following are the primary types to be aware of:
Form payments that are considered “traditional” are made when a consumer uses a browser to enter their debit or credit card information. Customers can typically keep their information at stores to check out later more swiftly. Payment gateways like Stripe and Authorize.net enable form submissions.
Mobile wallets – Users can save their card information on their phones using apps like Google Pay and Apple Pay. Customers can avoid having to enter their information again by paying in some stores utilizing mobile wallets. In many physical stores today, mobile wallets can be used in place of cards. Customers can pay at terminals thanks to NPC (near field communication) technology, which is present in the majority of contemporary cellphones.
well-known internet “wallets” Users of payment providers like PayPal can save their information with a third party. All they need to do to process a payment is log in to their account. Because of the increased security, this method is preferred by many users.
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