By now, you’re probably marketing your products and services via ecommerce platforms. That is a strategic move considering that many consumers now turn to online shopping for their purchasing needs, whether it’s food or groceries, clothing, or health and lifestyle essentials, to name a few. Even service businesses are going digital, from academic tutorials to accounting work and management consulting.
With a significant number of business transactions coming from your ecommerce site, it’s also now crucial to have an online payment system that will enable you to get paid by customers digitally.
If you have no IT resources, you can partner with merchant services, which will help you build an online payment system and integrate it into your ecommerce site. By having an online payment system set up, you can serve more customers and attract repeat buyers.
Cashless payments are rising, especially among shoppers who find no need to keep cash in their wallets. Many customers also prefer paying with their debit or credit card because they’re cautious about going out these days, so they would rather stay home and transact through online payment modes.
Just imagine customers’ frustration if they’re unable to complete a purchase they badly need because your website or ecommerce store doesn’t support online payment. That may result in missed opportunities and significant losses for your business, as customers are likely to look for alternatives or ecommerce sites that accept debit cards, credit cards, or e-wallets.
Still, some consumers may be a bit apprehensive about submitting their information or payments online, so you’d do well to offer the cash-on-delivery option. Just like your digital-savvy customers, those who prefer to pay in cash will be delighted if you let them choose how they want to pay for their purchases.
Whether your customers are paying digitally or COD, see to it that your ecommerce store doesn’t involve a lengthy checkout process. That tends to put off customers, which doesn’t help create a positive experience. In worst-case scenarios, buyers choose to abandon their shopping cart because they feel it’s not worth their time to do several steps to complete their shopping.
Thinking about what else you should do to win in the digital market? Check out our featured infographic, as it discusses 4 Online Payment Tips to Improve Your Ecommerce Site.