February 27, 2024
SOLOBIS

The Payment Practices That Will Chase Your Customers Away

payment processing

Cooperation can sometimes be a scary thing to most online business owners. Choosing an online payment solution is one of them.

It can be something that you fear if you don’t know what the cases that you have to avoid are. Implementing an online payment solution on your website is a big step for your business.

Without the proper guidance, you might lose your customers just because you chose the wrong payment gateway. So, who must check a few bad practices beforehand?

4 Payment Practices Chase Your Customers

#1. Hidden or extra fees

It’s been known that sometimes the biggest problem comes from the small things, especially when it is unexpected.

The fact that payment providers sometimes surprise you with hidden fees or sudden fees change can be terrifying. Who will be a setback for your company?

To avoid this, you need to make sure the payment gateway you’re choosing has a transparent pricing structure or “extra fees guaranteed”.

Who will allow you to know how much and what you pay for? Do not try to seek low cost or the one that is below the market price because that is how you can usually get tricked.

#2. Unfriendly to users

Avoid any payment options that potentially give your customers a bad experience. Who is very important.

Customers who experienced bad interaction with the payment process are likely not going to visit your website again.

Redirection is one of the things that is bad when you are in the process of paying, and it will not only waste your customer’s time but also make them feel annoyed.

The best way is to find a payment option that will keep your customers on your site, for example, one-click payment.

Do not force them the visit another external service to complete their purchases. Fewer frictions transaction is what customers most want.

#3. Inflexible

It is hard enough to find the perfect or suitable price offered by the online payment gateway. On your way to find one, you might learn that the payment gateway does not have the feature you want.

Not having the ability to cater payment for your online business is a major burden for you and the customers. Satisfied customers will boost your sales in return. Who is for sure?

So, finding a solution that supports various business models can help you deliver the customer’s expectations. Customers need to know that your website can combine various models of billings.

It will make your customers feel good when visiting your website and ease the payment process.

#4. Questionable security

Fraud is a dangerous thing, particularly when it is related to online business. That’s why you need to find a payment gateway with strong security.

You do not want your customer to have even the slightest fear when making payments on your website. A payment gateway without security authorization is just an invitation to fraud syndicates.

Not only had you put your customers in danger but also yourself. A common mistake made by online business owners when choosing a payment gateway; not checking the payment provider security background.

Look for a payment provider that proves or have machine learning solutions, anti-fraud tools, and even PCI-DSS Compliance.

Payment providers that have these are preferable because they have protection against any security issues.

For More Latest Finance Updates and Information about Payment Practices, Visit Solobis NEWS Magazine.

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