Getting online is only half of the battle when it comes to making a successful online business, with the other half being the actual act of bringing in the cash that funds operations and creates your income. Back in the day, when e-commerce was still a somewhat burgeoning industry, accepting payments online from your customers was far more challenging than it is today. Nevertheless, while payment processors are now ten a penny, they aren’t all created equally. This post will offer you some tips you can use to help facilitate the movement of your customer’s pockets into your own.
Choose A Processor That Is Willing To Work With You
This first point might appear to be slightly odd, all things considered, but the fact is that some of the larger options are less likely to work with smaller, niche businesses. Therefore, putting in some effort to search for those more willing to help you with your particular situation will pay dividends down the line. According to PayKings, there are numerous “high-risk” industries that may find it difficult to join the more mainstream processing companies. When this is the case, such as if you’re selling cannabis-related products, adult items, or really anything that bigger banks seem not to want to work with, you need to find a payment processor who is able to look past what you sell (as long as it’s legal of course).
Optimize Checkout Experience For Customers
In most cases, your e-commerce platform should offer you a range of templates you can use to present the checkout to customers at the end of their buying journey and are ready to make the purchase. Even so, it makes sense to design the experience around making the entire process as seamless as possible. The more roadblocks you put in front of your customers, the more likely it is that they will eventually lose patience and perform the dreaded abandon cart procedure, from which there is little you can do to entice them back outside of knocking your profit margin down. Instead, it should be easy for them to navigate around, check at a glance what they are buying, and able to make a payment using any of the most common methods.
Ensure Mobile Compatibility For Transactions
Most people simply don’t use their laptops anymore when buying online and instead opt to use their mobile devices. While you should obviously still make an effort to make your PC webpages beautiful and follow UX best practices, you will gain far more by enhancing the performance and feel of the mobile version. This means including as few steps as possible and avoiding opening up too many tabs on their mobile browser as they proceed through the process of entering various payment details.
Provide Clear Refund And Policy Information
Almost all payment processing companies will demand to see a robust refund and general policy page. This is the page that outlines your terms and conditions, as well as how you will handle refunds and under what circumstances. The clearer you make this, the smoother your application will be and the more chance you’ll have of becoming accepted.
There are plenty of ways to make it easier to accept your customer’s money online, with arguably the most important listed here. As long as you make the process easy to navigate and use a processor willing to work together with you in a mutually beneficial way, you can collect your money and scale up to new heights.
