Overcome purchasing obstacles (1) Payment options


By Margot Bonhomme, Marketing Manager @Botfuel - September 30, 2020

One of the main purchasing obstacles on e-commerce websites is the payment methods. Payment is the before-last step of the purchasing process (before the final confirmation). It’s important to simplify and make this step pleasant in order to improve the conversion rate and retain customers. If a visitor can't find their favorite payment method, they may become reluctant to complete their purchase. What strategy should be put in place to optimize your means of payment and overcome this obstacle?

Multiply methods of payment

The vast majority of customers have preferences for certain payment methods. Over 50% of consumers will cancel their purchase if their preferred payment options are not available.

In addition, every customer is different and can’t or won’t pay in the same way. Just because you are familiar with a form of payment, doesn't mean that it will be the case for everyone. Thus, your e-commerce website must accommodate different needs and preferences. It has to offer as many payment options as possible. The more your customers have at their disposal, the more likely they are to complete their purchases.

For example, the Caudalie brand, No.1 anti-aging brand in pharmacies in France, saw a significant impact on its turnover by optimizing its online payments. The natural cosmetics brand has 23 websites in Europe, the United States and Asia. It was therefore necessary for them to offer a personalized user experience in each country, based on their purchasing behavior. “Indeed, a French customer will not have the same purchasing habits as a Dutch customer for example. The former will prefer to pay by credit card while the latter will most certainly want to use iDEAL to pay. It is essential to be supported by a partner who knows these subtleties and who can integrate new local payment methods.” Explains Patricia Moy, E-Commerce & Digital Manager at Caudalie. In the same vein, and to respond to the internationalisation challenge, Thierry Chang, E-commerce & Digital Marketing Director at Lancaster, also confirms that it is necessary to “offer the means of payment that customers prefer”. “Our main goal at Lancaster is to provide our customers with the best shopping experience, whether online, on mobile or in store. And this customer experience goes all the way to payment. If the customer does not have the possibility to pay with the means he is used to, it almost always ends in an abandonment.” He confided to Adyen.

A streamlined shopping journey, both on desktop and mobile, offering quick and easy payment, leads to a better conversion rate.

Automatically propose a method of payment adapted to the items in cart

To offer the best customer experience, it is necessary to study the buying behavior of your customers as well as the country in which they are located. You can thus push, via a conversational campaign, the most optimal means of payment for each and every one of them.

Payment in foreign countries

If you want to set up abroad, do not offer the same methods to everyone. Offer methods of payment adapted to every country such as:

  • American Express for Americans
  • Pdebit SEPA for Germans
  • IDEAL for Dutch
  • Hipercard for Brazilians
  • Alipay for China Finding a local partner and/or consultant can be a sure way to speed up the process.

Payment in store

73% of consumers believe that online shopping is riskier because they are afraid of scams. In addition to the delivery times, many prefer to collect their purchase in store to avoid this added stress. However, if they order online and select an in-store pickup, they often still have to pay for their purchase before receiving it. Provide customers with options that are adapted to the selected payment/delivery choices. For example, if the visitor chooses Click & Collect delivery, offering them the option of in-store payment might be the best way to ensure conversion.

Mobile payment

According to FEVAD, all industries combined, mobile e-commerce purchases represent 30% of total market share. This figure is steadily rising, with 3.1 million more m-buyers, an increase of 23.7% over last year. Younger clients (25/34 years) are the most avid users of mobile shopping. They are also the most seduced by the use of instant transfer applications. "80% of users are between 20 and 35 years old. The most represented age group is between 25 and 30 years old." Lydia, a payment transfer app, announced in a press release. This is why, if your customer makes their purchase on mobile, offering them payment options through apps such as Apple Pay, Lydia or Pumpkin, will facilitate the purchase. They don’t even need their credit card.


Payment in multiple installments

You can also adapt your payment solutions according to your customer's cart. There is no added value to offer a payment in multiple installments, if your customer only wants a washing machine gasket worth 2€. On the other hand, this option makes perfect sense, if they are buying the washing machine. This was the choice made by Lancaster, by integrating “more payment methods such as Apple Pay, or even Oney, which allows our customers to pay in installments. A very interesting solution for large baskets like ours.” Explains Tony Jean-Rose, CIO at Lancaster.

Trusted payment

Despite this, some of your customers will still be reluctant to pay online. 90% of consumers are concerned when they make a purchase on an e-commerce website for the first time. To overcome those concerns, offer universal payment methods like PayPal. Familiar payment gateways reassure customers. It also may convince those unwilling to give their credit card number. If the person is new to your website, offer those payment types first.

Highlighting the payment method best suited to each visitor makes the customer journey more fluid and reduces the obstacles to purchasing. Beyond the mobile site, consider integrating these different means of payment into all your channels, for a more successful omnichannel customer experience.

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