Taking card payments online? Try these 11 tips to maximise your business potential.
Are you ready to take your business to the next level and start taking card payments online? In today's digital age offering convenient payment options is essential for staying competitive and attracting customers.
But where do you start? How can you ensure a smooth and secure payment process? In this blog, we have compiled 11 essential tips to help you navigate the world of online card payments and how to maximise your business potential.
Read on, to discover:
- Why does taking card payments online matter?
- Navigate online card payments to maximise business potential with these tips:
- Provide multiple payment methods
- Choose the right payment gateway
- Ensure data security and compliance
- Optimise your website for easy checkout
- Offer multiple login options
- Add multi-factor authentication (MFA)
- Simplify the payment process
- Provide clear and transparent pricing
- Invest in customer support
- Stay updated with industry trends
- Leverage mobile-friendly solutions
- Conclusion
Let’s begin!
Why does taking card payments online matter?
One of the goals of your business is undoubtedly to make a profit; but this is only possible if you can accept payments. Online payments have grown in importance due to recent technology breakthroughs in the e-commerce sector.
Offering online card payment options enables you to cater to your customer's preferences and tap into a broader market. Accepting card payments can increase your sales potential and provide a seamless experience.
Nowadays, all consumers demand user-friendly and cost-effective payment platforms. Hence, meeting these expectations is a must for businesses to stay competitive and cater to customers' evolving needs in today's globalised marketplace.
Navigate online card payments to maximise business potential with these tips.
In order to retain customers for your e-commerce company, you'll need to provide them with a stable, dependable, safe, and easy online buying experience. Start by implementing the below-mentioned tips.
1. Provide multiple payment methods.
Many e-commerce websites only have one online payment method. However, research reveals that 56% of respondents anticipate having a range of payment alternatives on the checkout page.
You should cater to customer preferences by providing various payment options, including major credit cards, debit cards, digital wallets, and online banking. This flexibility enhances the customer experience and expands your potential customer base.
2. Choose the right payment gateway.
Payment gateways are applications that handle credit card transactions for your company. They protect your business by facilitating secure and easy transactions.
Selecting a reliable payment gateway is crucial for seamless online transactions. You should look for features such as secure payment processing, fraud detection, and integration capabilities with your website or app.
Looking to switch to a new payment gateway? Find out more.
3. Ensure data security and compliance.
Companies that process payments and credit cards regularly deal with sensitive cardholder data. Hence they must comply with stringent data security standards. The Payment Card Industry Data Security Standard (PCI DSS) is a crucial standard for securing payment systems and mitigating the risks of breaches and fraud.
So, safeguard your customer data when taking card payments online. Also, partner with a payment gateway that follows industry standards, such as PCI DSS compliance, to protect sensitive information and build customer trust.
4. Optimise your website for easy checkout.
According to research, the average cart abandonment rate is around 70%, costing e-commerce companies $18 billion in annual revenue.
Streamline your website's checkout process to minimise cart abandonment. Ensure it is user-friendly, intuitive, and has clear instructions for customers to complete their purchases. A smooth checkout experience leads to higher conversion rates.
5. Offer multiple login options.
Although requiring customers to register before placing an order is easier for your marketing, customers are least interested in going through the procedure. Remember that once they've purchased from you and feel more connected to your business, you can always invite them to open an account. You must allow people to check out as guests to avoid losing them along the road.
You might even consider allowing them to log in using a Facebook or Google account. This will speed up the login process and reduce registration friction. If applicable, emphasise that you'll never post without the customer's consent.
6. Add multi-factor authentication (MFA).
MFA helps to improve your system’s security. It protects data from potential attacks, monitors accounts, and deters hackers. It safeguards users even if their login credentials are accidentally revealed. Christopher Lawson, a former cyber-security engineer, states that “MFA offers a variety of choices as per your security needs, including adaptive MFA, single sign-on, etc. This allows you to adjust the breadth of access and choose the right security options to meet your unique needs.”
MFA can also:
- Assist you in building a layered defence against cyber attacks if your organisation depends on third parties to access your systems.
- Aid organisations in limiting access to critical or secret material. This makes it possible to guarantee that only authorised individuals can access sensitive information.
- Eliminate the risk of password cracking or guessing, making it the ideal choice for expanding businesses trying to hasten their digital transition.
So, implementing MFA in your business today enhances your security and protects sensitive data, ensuring only authorised individuals can access critical information. Safeguard your organisation and accelerate your digital transition with MFA today.
7. Simplify the payment process.
If your company sells goods, it's critical to ensure that the goods themselves and the purchasing procedure, particularly online, are of the highest calibre. Customers and staff should find the payment procedure simple, resulting in a good reputation for the business.
Make the payment process as simple and straightforward as possible. Minimise the required steps, eliminate unnecessary form fields, and offer guest checkout options. A hassle-free payment experience encourages customers to return.
8. Provide clear and transparent pricing.
Your customers continually assess their interaction with your brand, whether clicking "add to cart" or standing in line at a cafe while waiting to order.
Empower your customers to make informed decisions that can be done through proper communication and transparency. Communicate any fees, charges, or additional costs associated with card payments. Transparent pricing builds trust and avoids unwanted surprises, promoting a positive buying experience.
9. Invest in customer support.
Customer service has long been seen as a crucial revenue generator. However, businesses worldwide don't appear to be aware of what many people perceive to be common knowledge.
Customers who shop online want to feel comfortable contacting your business for assistance, mainly if they are first-time users. They might hesitate to buy from you if you don't provide them with a direct route to your contact information. They also might hang back if they do not get the assistance required to complete a transaction.
You have to offer them exceptional customer support throughout the payment process. Provide accessible channels for customers to ask questions or concerns, such as live chat, email, or a dedicated helpline. Prompt and helpful assistance fosters customer satisfaction.
10. Stay up-to-date with industry trends.
The complexity of taking payments online has never been higher than it is now. This is partly caused by the wealth of choices and the ongoing technological advancements. To give customers the most incredible experience possible, businesses must stay abreast of trends as the payment processing environment continues to develop with new capabilities.
Stay informed about emerging trends, new technologies, and customer preferences to remain competitive. It is crucial to regularly assess your payment solutions and consider adopting innovative tools and methods that can enhance your business operations.
11. Leverage mobile-friendly solutions.
In 2014, we reached the tipping point between mobile and desktop usage. Since then, the disparity has continuously grown between mobile and desktop users worldwide. More than 80% of consumers make decisions using their mobile devices today. People browse or use mobile apps to compare pricing, search for product reviews, or look up store locations.
With the rise of mobile commerce, ensure your online payment process is mobile-responsive. Optimise your website or app for mobile devices to provide a seamless and convenient experience for customers on smartphones and tablets.
Conclusion
Accepting card payments online is crucial for businesses to stay competitive and cater to customer preferences in today's age. Companies must work hard and provide a compelling and secure online card payment process to maximise their business potential. So, it is crucial to prioritise business needs, invest in customer support, and stay updated with industry trends.
Empower your online payments with our flexible solutions.
Judopay offers a comprehensive payment solution that empowers our customers to grow their business. Our solution enables conversion-driving checkouts, flexible payment flows and access to various payment methods, all in one place.
