The payment process is a key point during the consumer journey and begins once the user has decided the product or service that he wants to buy. The buyer could leave the shopping cart if he has a bad experience during the payment process.
It is a serious mistake to think that a sale is successful when the client decides to buy a particular product or service and proceeds to complete the purchase. The shopping process consists in several steps including the payment process, that has to be fast, effective and secure.
Technologic innovation and new consumer habits favour online purchases, placing the Spanish ecommerce turnover during the last quarter of 2015 in 4.946 million euros according to the CNMC (National Commission Markets and Competition).
For this reason, in a growing market such as ecommerce, the business must adapt to the consumers’ journey, making the payment process immediate, easy and of course, secure. Achieving this is simple, a business should have a payment process that meets the following characteristics, making it a differentiating factor and adding value to the consumers.
- Maximum security: in some cases, users are reluctant to shop online, because they have to provide their card data. To prevent this, it is essential that the ecommerce environment has online security guarantee seals or complies with international security standards such as PCI DSS.
- Multiple payment methods: ecommerce provides access to buyers worldwide. Therefore, the more alternative payment methods, more options they have to pay and greater will be the willingness to buy.
- Omnichannel: Increasingly, businesses that sale their products through different channels, should provide consumers a unique, careful and personalized experience in each channel.
- Tokenization: it helps protect sensitive card data and facilitates recurrent purchases having only to confirm the purchase.
- Innovation: the consumer journey and the way to pay are continuously evolving, causing changes in consumer habits and forcing businesses to innovate and adapt.
From Communication Department at Sipay Plus, payment gateway specialized in intelligent payment solutions based on innovation and security: “It is essential to facilitate to final consumers the ways to complete the shopping process. If they are satisfied and loyal will act as prescribers of the brand and / or business”.