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Success Tips for Using a Virtual Payment System

The final step of buying a product or service from a store is making a payment for the purchase. The process of making the payment should be efficient and enhance customer experience. Thus a business owner with a virtual payment system should ensure that the payment process is easy, smooth, and simple to use. Implementing and following the right tips on using a virtual payment system will enhance success and increase leads in the business. Here are some of the success tips for using or implementing a virtual payment system in an organization.

Offer a wide range of payment methods

Providing a wide array of payment options to your clients is vital in enhancing the customer purchasing experience. Studies have shown that about half of the customers abandon an online purchase of a product if they cannot use their most preferred payment option. Thus, it’s vital to have numerous payment options for your customers to use your virtual payment system successfully. Running an online store requires that you have a wide array of payment options since your customers have different payment preferences. You should make use of the various payment options by adding them to your website. Examples of these options include bank transfer, debit card, credit card, and PayPal.

Keep client’s payment information secure

It’s critical to make sure that your payment gateway is secure and free from hacking threats. The various gateway options you use to accept payments should be safe and secure and the security software packages should be able to encrypt the payment data and offer high levels of security. However, it would help if you did not rely on a single security payment gateway since your clients require top security while using the virtual payment system. Security payment experts recommend having a secure sockets layer certificate on your website to encrypt client’s sensitive information and guarantee a secure connection.

Site visitors should not create an account before they can pay

Another success tip to consider when enhancing your virtual payment system is to only require site visitors to create accounts after they make a purchase. User accounts provide lots of information or value to visitors and site owners. Visitors can access a dashboard to manage and view their payment methods, special offers, and order history. On the other hand, site owners have a valuable list of leads with complete contact information, however; requiring visitors to sign up or create a new account can scare them away. This can potentially lead to disastrous effects on the conversion rate of your site. First-time users often overlook the account creation process since they are scared of being bombarded with sales pitches, new passwords, and emails. Paying for a service or product without creating an account makes first-time users comfortable and will most likely convert.

Minimize on information requests

Most of the time, site visitors or clients are not comfortable offering more information than required when processing a payment. Limiting the data or information you ask for on the payment page is a proven strategy to increase the conversion rate and reduce the abandonment rate. The business owner should design the payment page with questions that only ask for essential information since asking for additional information will add extra steps in the payment process. To maximize the payment completion rate, you need to keep the process simple and easy to use. A quick check-out process will lead to the virtual payment system’s success and attract more customers to your website.

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