One of the many reasons why retail eCommerce companies are gaining popularity in India is that it saves the time of consumers who don’t wish to stand in checkout lines at physical stores. Even at a famous restaurant, after good food and service, if the customer is kept waiting for the cheque and further payment, it’s more likely to ruin the overall dining experience. The same goes for any digital business as well, once the user has spent time in picking what services/products they want, the checkout process should be convenient and seamless.
Companies invest substantial time and capital to create an amazing experience for their users on their websites and apps. Amongst the things that aren’t done in-house, a payment gateway system is one of where they usually need to find a partner. The decision of which payment gateway partner a business chooses, has more impact than what meets the eye.
Seamless shopping experience becomes important to get repeat users, reduced cart abandonment rates, higher conversions and ultimately profitability. In my last post, I covered the parameters to look for while choosing a payment gateway. This post is more around the evaluating a payment gateway in terms of the ease it offers to the end customers. Here is a checklist to evaluate payment gateways based on customer experience they have to offer:
Checkout Page Customisation
On most occasions, the payment page rendered by the payment gateway would be hosted at their end. Once a customer clicks on the make payment option, they reach the payment gateway’s landing page which is usually a new visual environment altogether. If the payment page does not have a consistent look & feel as that of your website, it may have negative implications for your business like loss of reputation, cart abandonment, etc.. An ideal system should offer a customisable API/landing page that you can integrate to keep the payment page design and experience consistent with rest of your website.
Facilitation of Express Checkout
The payment leg of online transaction should always be as friction-free as possible. The customer has made a decision to make a purchase. If there are hurdles at the time of payments, the probability of customer changing his or her mind increases. Hence, payment gateways (such as EBS) provide merchants with features like secure storage card details (CVV or CVC should not be stored), Auto Pay (or standing instruction for subsequent payments), etc which help consumers to have a quick & fast checkout, thereby enhancing their overall shopping experience.
The number of smartphone users in India is growing, and so is the number of consumers who shop on mobile. Irrespective of which sector your business is operating, it has become imperative not only to have a mobile responsive website but also a native app. India has more than 300 million users who use internet through their phone. To support such businesses, the payment page also needs to be mobile ready. In fact, responsiveness of the payment page is now hygiene. Payment gateway companies also offer ready SDKs for integrating the gateway within the app itself for platforms such as Android and iOS. This ensures a superior and native payment experience for all the users of the app.
Enhanced Payment Methods
This is one of the many essential things to evaluate when choosing your payments partner. Besides the common modes of payment via credit card, debit card, merchants also offer additional end user convenience by offering other options like wallets of various companies., EMI conversion for credit cards, instant loans, etc., Particularly while starting up, it’s hard to predict what your customers would prefer, hence choose a partner who offers the most options.
International Payment Support
Businesses are now going global, and the payments partner needs to support such growth and expansion. Accepting international cards has its own set of challenges like (i) Enabling of international card acceptance in conjunction with banks and (ii) Fraud risk management, as cards that are issued outside India may not be enabled for 2 factor authentication. Apart from this, features like acceptance payments in multiple currencies and settlement of funds also in various currencies also become important for such businesses. Choosing the right partner who has a proven track record and offers such advanced features in imperative for such businesses.
Every business invests a lot of time and resources to get their customers to transact online. At the time of payment, if the transaction fails due to reasons such as insufficient balance, wrong passwords, etc, then the entire effort of getting the customer to this stage goes down the drain. A customer may not take the efforts of re-attempting after a failed payment attempt, especially if it is an impulse purchase. A payment system should come with an auto-retry option, where the user can get directed to an intermediate page to choose between the same payment mode or an alternate one. If the customer knows he or she entered an incorrect password, they can choose to retry with the same payment option and proceed immediately.
E-Billing Solutions (EBS) established in the year 2005 is headquartered in Mumbai. EBS offers a secure payment system while supporting multiple payment options including international payments. It is a fully owned subsidiary of Ingenico Group. With its acquisition by Ingenico, a global leader in seamless payment, EBS has now access to world class product and solutions to augment its existing services.
Disclaimer: This column is powered by E-Billing Solutions (EBS)